Pilot Life Insurance
If you are an aircraft owner, whether powered, non-powered, fixed wing or rotary, you will no doubt have insurance covering the plane/helicopter/microlight both in the air and on the ground. And if you are one of the increasing numbers of recreational flyers, part of an Aeroclub or a commercial pilot, you will no doubt assume that someone else has insured the aircraft, the hanger, the glider trailer etc.
…but have you thought about insuring yourself?
If you died, or were seriously injured as a result of an aircraft incident, what would happen to your family? Would they cope financially?
Whether a private or commercial pilot, flying as a hobby or as a career, we all know you do what you do because you love it…..statistically yes, the chances of being involved in a major accident on the roads are much higher than something going wrong in the air¹. But, the fact remains that many insurance companies view your passion as simply too risky.
Even more worrying is that those with existing income or life insurance policies, may find the premiums will not even be paid out if something goes wrong whilst flying.
For example, a microlight pilot may find that their insurance company excludes ALL aviation activities as part of their income protection policy. Another pilot, with a different insurance company may be fully covered irrespective of aircraft type or number of hours just excluding aerobatics. However, this same pilot may find that his life insurance policy has a load premium of between $1-$5 per $1000 of cover.
Puddle 2 Pond Financial specialise in aviation / Pilot Life insurance and are one of the few financial planning companies in Australia with the experience to know which income protection and life insurance policies are best for the aviation community. They can help find the right products to suit you, often with minimal or no loadings or exclusions.
So although we all hope the worst will never happen, the fact that something as simple as a birdstrike can have disastrous consequences, can you afford not to provide security and peace of mind for yourself and your family?
Call Puddle to Pond Financial today to find out what policies are right for you and how you can keep on flying, knowing that your family is covered if something goes wrong.
¹There were a total of 157 fatalities in private/business and sports flying between 2001 and 2010 (source: ATSB Aviation Occurrence Statistics 2001-2010) whereas in 2010 there were 405 fatalities on the roads in NSW alone (source: https://www.rta.nsw.gov.au/roadsafety/downloads/crashstats2010.pdf)