dougweil

dougweil

Well Known Member
Hi guys:

One of our local RV members had a question I would like to pass on. His son is a professional corporate pilot with a young family. He wants to build an RV but wonders whether he can get a term or whole life insurance policy that covers flying in an experimental aircraft. My policy through my airline and ALPA covers this but I told him I would contact the folks at VAF and see if we can get some other info.

Thanks
 
Believe it or not most life insurance policies have a rider excluding aviation related activities where you are doing anything other than acting as a passenger on an airliner. Most people are unaware of this.

I had a terrible time getting life insurance with no aviation exclusion rider from any of the major underwritters until I found the folks at Pilot Insurance Center. Belive it or not, they were able to get me underwritten with no aviation exclusion rider by the same company that already had my business with a rider excluding my aviation activities, and get this! It was cheaper.

Not sure how flying an experimental impacts this. I can tell you that my policy does not specifically exclude experimentals.
 
Last edited:
Rider

I too have insurance with a rider for flying. But now I'm concerned and will have to check if there are any exclusions for flying in experimental aircraft. It increased the cost by about 50%, but isn't that much overall. I was also told that I could remove the rider at any time and the premiums would go down. You do want to check and verify this.
 
Brantel said:
Believe it or not most life insurance policies have a rider excluding aviation related activities where you are doing anything other than acting as a passenger on an airliner. Most people are unaware of this.

I had a terrible time getting life insurance with no rider from any of the major underwritters until I found the folks at Pilot Insurance Center. Belive it or not, they were able to get me underwritten with no rider by the same company that already had my business but with a rider excluding my aviation activities, and get this! It was cheaper.

Not sure how flying an experimental impacts this. I can tell you that my policy does not specifically exclude experimentals.
Click to expand...

These days I always ask a prospective passenger whether they have any exclusions on their life insurance policy for flying in GA/experimental aircraft. Not that I'm interested in scaring anybody, I just want to protect the passengers estate and mine too in case the unthinkable should happen.

Unfortunate fallout from the times we are living in.
 
.02 cents

Make sure to buy it prior to owning and possibly even before building. So as to be able to honestly answer NO to any aviation questions. The policy I have requires 125 total and 25/year and as far as I know does not exclude experimentals but they sure as heck asked when I applied (I hadn't touched an exp at that point). And as this goes try to afford whole life so it doesn't require a reapplication every 10 years. My policy is with Mass Mutual, a very strong company.
 
do they know?

MacNab said:
These days I always ask a prospective passenger whether they have any exclusions on their life insurance policy for flying in GA/experimental aircraft.
Click to expand...

I wonder how many non-aviation types even know this. . .
 
My company provided term life insurance has some interesting words that even the Legal Services desk of AOPA could not decipher. And, of course, all I got was the runaround from Prudential, the underwriter of the policy.

Basically, the words in the policy state that I'm covered IF I'm compliant with the FARs, current, valid medical, etc., and flying in a CERTIFIED aircraft. I did not mis-type that.

So, my question was: Since an EX/AB aircraft receives an AW CERTIFICATE, am I covered, or do they mean Part 23 certification (I think that's it) like a Cessna, Piper, etc. No one could answer me. It's the old certified vs certificated question.

Bottom line is that upon further examination, the exclusions were for AD&D. I have no exclusions for the basic term life, so I'm covered just fine. Whew!

Carl
 
I have mine through AOPA/Minnesota Mutual. They write pilots. I specifically asked about experimental and they told me as long as I was not flying them when I purchased the policy, I could do anything I wanted to do after, and I would be covered. Hope this helps.
 
MacNab said:
These days I always ask a prospective passenger whether they have any exclusions on their life insurance policy for flying in GA/experimental aircraft.
Click to expand...

grover said:
I wonder how many non-aviation types even know this. . .
Click to expand...

Not many in my experience, and a couple of friends have declined a ride after checking their policies. My brother pointed this problem out to me when he found that his policy had exclusions for GA flight, and he's a cop with a policy that covers death in the line of duty. Seems the odds of buying the farm would be similar under both circumstances, but added risk nonetheless.
 
I have AAA life insurance, their rates are much more competitive than piclife or the other aviation life insurance co's. No restrictions on flying experimentals or acro. I told them up front what I flew and during the interview they asked me a lot of questions about my credentials, and there was no problem.

I suppose juggling chainsaws would be a bad hobby to have but most insurance co's don't seem bothered by that. Aviating is another story though.
 
Last edited:
Brantel said:
I had a terrible time getting life insurance with no aviation exclusion rider from any of the major underwritters until I found the folks at Pilot Insurance Center.
Click to expand...
Same here. I also went through http://www.piclife.com/ for mine. They had a question or two about my "experimental" experience, but it didn't seem to matter all that much.

FWIW, our insurance broker came over to the house one night to do an analysis. When I showed him the quote I got from PIC Life he said "That's a very attractive quote for a pilot, I probably won't be able to come close to that."
 
RV7Factory said:
Same here. I also went through http://www.piclife.com/ for mine. They had a question or two about my "experimental" experience, but it didn't seem to matter all that much.

FWIW, our insurance broker came over to the house one night to do an analysis. When I showed him the quote I got from PIC Life he said "That's a very attractive quote for a pilot, I probably won't be able to come close to that."
Click to expand...

My original insurance was with a long term family friend who worked for AG. She said there was nothing she could do to get the aviation exlusion rider off my policy. She just about flipped when I told her that I did get a new policy, it was with AG and it did not have the aviation exclusion rider on it and oh yeah by the way it is less expensive.

Needless to say, she was speechless.
 
Brantel said:
My original insurance was with a long term family friend who worked for AG. She said there was nothing she could do to get the aviation exlusion rider off my policy. She just about flipped when I told her that I did get a new policy, it was with AG and it did not have the aviation exclusion rider on it and oh yeah by the way it is less expensive.

Needless to say, she was speechless.
Click to expand...
That's funny. This is a perfect example of how important it is to have an agent and underwriter who know, or specialize in, aviation.
 
life insurance for pilots

I sell a fair number of policies to pilots. There are a few important details buyers should know. I am in Canada, so the rules may be a little different but many of the carriers do business in the US too.
In my country if you have an existing policy in force for 2 years and you decide to take up experimental flying....no worries, no policy changes no paperwork required and no extra costs. They cannot change the policy now that you have taken up a new hobby. Keep an existing policy in force until you find something better and its a signed contract. Dont lapse the first one till you are positive it does not give you what you want. Deal with a BROKER who isnt in bed with just one or two life insurance firms. There is a huge difference in the underwriting out there. If you need a new policy they will likely ask if you fly, be honest. Then there is an aviation questionaire. The broker can make some calls and find out all the rules and issues before you even fill out the app. There are several carriers that have NO issue with flying. Its kind of goofy, as an 18 year old can get a crotch rocket and fly down the expressway at 200, that is ok, but an experienced pilot flying a plane for pleasure...oh thats considered too dangerous.
Anyway, my point being (at least in my country), the insurance that is in force CANNOT deny coverage if it was in force before you started flying homebuilts. Also, lots of firms want your business, just find a broker willing to do some leg work to get it done. A broker could get you the answers in a couple emails or calls and get you solid peace of mind and a very fair "standard" heath/risk rate. READ the policy papers and ask questions. Owning a policy with an aviation exlusion is crazy. Explain that to your wife. Do a little work, have a broker earn thier pay..and let you and your wife sleep well.
 
PIC

I was trying to upgrade my life insurance but as you have all found, many companies have an aviation rider. Last year at OSH, I talked to a company called PIC about getting more insurance yet still being able to fly an experimental airplane. They found me a good policy with a company called Lincoln Benefit Life in Lincoln, Nebraska. It looks like a solid company that has been around for many years and they gave me the best rate. The agent at PIC (Pilot Insurance Co.) is Dan Cook.

PM if you have questions.

Bill Near
 
Just about every single question from the USAA people was whether I participated in every type of aviation activity there is. They didn't seem to care if I raced motorcycles or did saturation deep water diving. As I'm not taking flight lessons right now I could answer no to the questions, but I have to find out how that will change my policy when finances let me continue.
 
Life ins.

When I purchased my policy through Prudential Life I told them I was a pilot of an experimental airplane and they were ok with it.
I had them include that in writing in the policy.
Bruce
 
You must log in or register to reply here.