Life Insurance providers friendly to pilots.

[Juicegoose]

I'm looking to setup some life insurance and know that there tends to be a increase for pilots, or so I've heard. So lets here about it guys. Who have you all found to give pretty good rates for pilots regarding term and permanent life insurance?

Side note: Although I value everyones opinion on the pro's and cons of each type of insurance I'm simply wanting to keep this to a specific who'd ya go with forum topic.

Thanks in advance

[rocketbob]

http://www.aaalife.com

Much more reasonable rates than the other life insurance companies that cover pilots, and I'm covered for flying experimental aircraft.

[ccsmith51]

In Addison, TX, 800-380-8376, www.piclife.com. In 2004 I purchased a 10 year term policy, fixed premiums, no aviation exclusions. American General Life (AIG) is the insurance company. I worked with Dan Cook there, ext 126. Can't say how well their claims process works (thankfully)

Hope this helps.

Chris

[pierre smith]

At the time, there was only one writing insurance to include ag flying: Lafayette Life, in Lafayette, Ind. 800 243 6631.

Ive been with them for close to 25 years now and pay $635/quarter for $250,000 at age 65.

Best,

[Mile High Relic]

I tried going through whatever company AOPA shills for, and when I told them I would be flying an RV-6 or RV-6A, the rate tripled from the initial quote to over $1200 a year for a 250K 10 year level term. Age 48.

After carefully examining all the plan documents of the supplemental life offering where I work, which is a large telecom company, I ended up just adding on $250K to the basic 1 x annual salary life policy the company provides. There is no aviation exclusion for basic and supplemental life. AD&D won't apply if I die in a plane I'm piloting, but the basic and supplemental will. Make sure to verify with your HR department, as it is different at different companies.

The pros are that it is easy to obtain, with no physical required in my case, and about 1/4 the cost of the level term I was quoted. It also includes AD&D so if I'm hit by a bus the payout doubles to $500K.

The cons are that the price will go up each year, and it isn't that portable if I leave the company. I figure that every year I'm alive reduces my need for life insurance though, and in about 5-7 years I'll drop it altogether so the gradually rising premiums are not a big problem.

[Lemmingman]

Has anyone tried USAA? They can be pretty conservative in their choice of coverage, so I wouldn't be surprised if they simply didn't wish to write the policy.

[snoop9erdog]

I just received a quote which I am going with for a 20 yr 500K term policy with no aviation exclusions through American General for approx 47/month. PM me if interested and I can provide more info

[pmnewlon]

I've been struggling with this for the past six months, since I bought an RV4. My insurance age is 49 right now; I would qualify for 'preferred plus' with any provider health-wise. Where I run into trouble is that I scuba dive and am a private pilot. The scuba diving issue is much smaller than the flying, so my rates are predicated on that.

$500K, 20yr level term:

Primerica - $1600/year. No questions about homebuilt or experimental aircraft in their questions. I am suspect of this only because the agent I talked to didn't give me a warm and fuzzy that he knew poop from pop.

Nationwide - $1600/year with homebuilt / experimental exclusion. Adding experimental kicks it to $3800/year

PIC Life - $1300/year with homebuilt exclusion until I have 100 hours TIT. $3500/year with no exclusion.

[N941WR]

I don't even try. My wife is a Veterinarian so she can provide for herself and our son, should something happen to me.

A few years back my insurance agent called and suggested I need some life insurance. When I told him I just started flying a plane I built in my basement, the car he used to insure was used primarily on the race track, and my other hobby was mountain climbing, he hung up and hasn't called back. I wonder why he did that.

At least he didn't cancel my auto and house insurance.

BTW, my health insurance agent tried to "friend" me on FaceBook. Don't ever let your insurance agent be a FB "friend".

[Lionclaw]

SGLI $29/month + an oath gets you $400k coverage without any exclusions.