|
|
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
|
|