Loss of medical insurance

SpiraMirabilis

Possible Subversive
This used to be available through ALPA but as I no longer work for an ALPA carrier I am curious if there are any insurance carriers that sell loss of medical or loss of license insurance to individuals.

The type of product I would be interested in would be the one that pays out until you're 65. Any body know anything?
 
This used to be available through ALPA but as I no longer work for an ALPA carrier I am curious if there are any insurance carriers that sell loss of medical or loss of license insurance to individuals.

The type of product I would be interested in would be the one that pays out until you're 65. Any body know anything?

You are still eligible for those ALPA products.

Loss of License & Loss of License-Plus Overview
Eligibility—Who Can Apply?
You are eligible to apply to start or increase the amount
of your Loss of License/Plus coverage if you are:
ƒ
An Apprentice, Active, Executive, or Reactivated
member of ALPA in good standing, holding a valid
Airman Certificate, and actively at work.
ƒ
An Inactive Participant flying in the capacity for
which you hold a Federal Aviation Administration
license for an acceptable non-ALPA carrier
classified under Federal Aviation Regulations Parts
119, 121, 129, or 135.




and



Lump Sum Loss of License Overview

Eligibility—Who Can Apply?

ALPA Apprentice, Active, Executive, or Reactivated
members and Inactive Participants* are eligible to apply
for the program. In underwriting your application, we
rely on the medical information you provide, and on the
information you authorize us to obtain.
*If flying for an FAR part 119, 121, 129, or 135 carrier.
 
Also,

Short Term Disability

  • NOTE: ALPA is no longer accepting applications for SHORT TERM DISABILITY and all STD coverage will end effective November 1st, 2014.
 
The type of product I would be interested in would be the one that pays out until you're 65.

That would be ALPA's "Loss of License-Plus"

Just watch out for this golden nugget:

This Loss of License-Plus coverage pays monthly "
benefits for total disability, defined as the inability
to perform major duties of any occupation for which
you are reasonably suited by education, training, or
experience, if that occupation might be expected to pay
you, within 12 months of returning to work, at least 60
percent of your pre-disability earnings.
You will not be
eligible for monthly benefits if you are performing any
work for wage or profit."


So this isn't just a "lose your First Class medical and you're set financially for life until age 65." If they can show that you can still perform another job that falls under your college degree/qualification that pays at least 60%, then you are working.
 
They look good. The only gotcha seems to be a "vocational rehabilitation" clause where they can pay for you to go back to school or something similar.
 
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