Sender: <marv@lancaironline.net> (Marvin Kaye)
To: lml
Date: Mon, 18 Nov 2002 10:55:31 -0500
Message-ID: <redirect-1881003@logan.com>
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In-Reply-To: <redirect-1880343@logan.com>
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From: "Lorn H. Olsen" <lorn@dynacomm.ws>
Subject: Re: [LML] Life Insurance owning an LNC2
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>A broker told me that life insurance premiums for what I wanted (20 
>year term, good health) would be $450 per year if I was not a pilot. 
>Since I fly a Lancair 360, that same coverage comes at a whopping 
>$2,250 per year.
>What are some of you doing about life insurance at reasonable rates?
>
>Ed de Chazal
>N361DC

Ed,

I had the same problem when I was 54. My brother set me up with a 
company that charges me $1,182.50 per year for $350,000 worth of 10 
year term life insurance. At your age, I would expect you to pay 
about 1/2 of that amount. Of course, 20 year guarantees cost more 
that 10 year.

I had to fill out an aviation form and show that I didn't fly too 
much and didn't fly too little. I think that they liked about 75 
hours per year. Over my 25 year flying career, I had just exactly 
that amount of time, on the average. I expect that if you average it 
correctly, you may have just about the same amount, on the average, 
over the last x years.

A question that I have is: Is there a time limit(like 2 years) after 
which a policy with a non-scheduled flight, exclusion clause, will 
pay, even if you are on a non scheduled flight and are the pilot or 
not?

My brother's e-mail address is listed above and you can reach him at 
his office at 941-921-3275.

Let us know what happens and be specific, we are not insurance agents.
-- 
Lorn H. 'Feathers' Olsen, MAA, DynaComm, Corp.
248-478-4301, mailto:lorn@dynacomm.ws
LNC2, O-320-D1F, N31161, Y47, SE Michigan