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Things To Consider When Shopping for Pilot Life Insurance October 21, 2014

When you consider the amount of aircraft in the air at any given time, it is amazing how few accidents actually occur. While some consider being a pilot a dangerous occupation, it is actually much safer up in the air than it is on the road, unless of course you are a fighter pilot!

When trying to secure a life insurance policy, the challenge is to find a company that does not put you into one “danger” category and charge an excessive premium simply because you fly recreationally or professionally.

Factors that Will Contribute to Lower Life Insurance Premiums for Pilots

Health – as you already know, not just anyone can be a pilot. The rigors of the profession demand that pilots are generally in extremely good health and are well-educated individuals. Think about it…when was the last time you heard of a pilot having a heart attack while flying?

You are far more likely to have heard about someone behind the wheel of a vehicle having a heart attack. That being the case, pilots live longer than the average person, contributing to a lower overall rate.

Aircraft – the type of aircraft being flown will play a significant role in how much the monthly premium is. Larger aircrafts, such as a commercial airliner, are generally considered safer than smaller aircraft. For instance, do you think the biplane flying low over beaches with advertising banners is safer than a 747?

Think about the safeguards in place for commercial planes vs. those of someone that actually owns their own small plane.

Professional or Recreational Flying – the amount of time in the air will also play a role in how much to charge an applicant. Are you flying five days a week as a profession or is this something you only do once or twice a month for recreation? Are you traveling long distances or merely flying for an hour a week?

Experience – experience and/or training also play a role in the expense of the premium. As with any profession, the longer you do it, the more likely you are to become more proficient. Would you prefer to fly with a captain that has ten years in the cockpit or one that is on his or her first commercial flight? genesage.com/life-insurance-over-60 offer a useful guide for older pilots looking to get covered without paying out too much for a policy.

The more experience and specialized training you have, the more likely you will see a reduction in rate compared to less experienced pilots.

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