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What All Pilots Should Know When Applying For Life Insurance
Statistics would show that pilots are healthier, more affluent, and live longer than the rest of the general public. That in itself would lead you to believe that pilots would be a preferred risk for life insurance companies over non-pilots and therefore their premium rates would be less. Surprisingly, this could not be further from the truth. As you probably know, life insurance companies put you through their underwriting process to determine whether or not to offer you coverage. This underwriting takes into account many factors such as your age, health & medical history, occupation, and hobbies. To your dismay, insurance underwriters consider aviation a risk factor and the hobby of flying can dramatically affect your ability to gain affordable insurance.
Applying for life insurance as a pilot can often lead to a very trying experience. Frankly, it is very frustrating when a pilot in excellent health can be offered a premium rate higher than a non-pilot that is not as healthy. The fact that an active pilot completes a flight physical exam every 6 months to 2 years in its own way separates the healthy from the non-healthy so why isn't a pilot a life insurance company's best friend? Unfortunately, many insurance companies still base their premium rates for pilots on limited and often outdated aviation safety statistics and thus penalize pilots with unreasonable premiums for their coverage. See below for some valuable suggestions to save you time and money and make your insurance underwriting a smoother ride. Read the suggestions online.
What All Pilots Should Know When Applying For Life Insurance
1. Work with an aviation experienced insurance agent
2. Know the aviation guidelines before submitting an application
3. Complete the insurance aviation supplement form correctly
All-Around Tips When Applying For Life Insurance
1. How to have a better medial exam
2. Disclose your complete medical history to the insurance company
3. The low-down on smoking rates
4. The more you weigh, the more you pay
5. Conclusion
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