Life Insurance For Private Pilots 2024

Insurance Hero explains how to get a competitive life insurance quote in this article. We have been helping pilots get life insurance with standard and not loaded premiums

Some Sound Reasons To Consider Getting A No-Obligation Quote Today:

• Pilots can get affordable, comprehensive life insurance tailored to their specific circumstances
• Get a quick and free quote without having to visit an office
• You are not required to purchase insurance after you have received your quote
• You have many options for coverage. These include mortgage and critical illness coverage
• Flexible coverage for whole-life insurance plans
• Outstanding customer service reviews have been received
• Great rates for shared coverage policies
• Discover how much life insurance costs and which policies are most suitable for your budget
• Excellent rates on shared coverage for same-sex couples
• You can get critical illness coverage separately or together with your life insurance for a small additional cost

Protect Your Loved Ones With Life Insurance. Highly Rated For Financial Strength. Quick Quote

Pilot Life Insurance Overview

Topic	Details
Can pilots get life insurance?	Yes, pilots can secure life insurance. The premiums are influenced by the type of flying, the routes, and the number of hours flown annually. Commercial and helicopter pilots can often secure insurance with manageable premiums, especially if their routes are considered safe. However, private, glider, and military pilots in active service might face higher premiums due to increased risks.
Why choose Insurance Hero for pilot life insurance?	We offer fee-free, personalised, no-obligation quotes and guidance through the application process.
What does life insurance for pilots cover?	It covers financial protection for the pilot’s family in case of their death. The payout can help with mortgage or rent, childcare, funeral costs, replacing income, loan or debt payments, and providing an inheritance.

Types of Life Insurance for Pilots

Type of Insurance	Key Features
Level term life insurance	Term up to 40 years, fixed premiums, sum assured remains constant, maximum sum assured of £1,000,000, includes terminal illness cover, option to add critical illness cover.
Decreasing term life insurance	Term up to 40 years, fixed premiums, sum assured decreases over the term, maximum sum assured of £1,000,000, includes terminal illness cover, option to add critical illness cover.
Whole of life insurance	Covers the policyholder for life, guarantees a payout on a successful claim, fixed premiums, and a maximum sum assured of £1,000,000.
Over 50s life insurance	It covers policyholders for life, no medical questions, a maximum sum assured of £20,000, and terminal illness cover available with certain companies.

Factors Affecting Pilot Life Insurance Premiums

Factor	Impact on Premium
Age	Older age when taking out a policy usually results in higher premiums.
Health	Poor health history can lead to higher premiums.
Occupation	Hazardous occupations, like piloting, can lead to higher premiums. Commercial pilots might pay less compared to private pilots.
Lifestyle	Factors like exercise habits, alcohol consumption, and risky hobbies can influence premiums.
Weight and BMI	Overweight individuals or those with a BMI over 25 might face higher premiums.
Smoking status	Smokers or those who have smoked in the last 12 months will have higher premiums.
Cover amount	Higher sum assured leads to higher premiums.
Policy length	Longer terms or whole of life insurance can result in higher premiums.

What Is Life Insurance and Associated Cover?

Life insurance for private pilots works to provide a cover amount, payable as a lump sum, should the policyholder die.

Associated life insurance cover includes critical illness and income protection, which we will explain later in this article.

The Relationship Between Life Insurance and Private Pilots In Light Aviation

Light aviation is the piloting aircraft with a take-off weight of fewer than 12,500 pounds. Aircraft in this category are used both for private and commercial use. Like other life cover, insurance underwriters need to know the extent of your flying activities to provide a life insurance quote.

In the past, life insurers typically included an aviation exclusion as part of a life insurance policy. Aviation exclusion is rare as aviation safety has improved, and regular pilot medical check-ups have become mandatory.

The cover is now available at standard rates; however, the insurer must fully understand your activities to ensure they do not need to load premiums.

Why use Insurance Hero for Private Pilot Life Insurance

Insurance Hero provides tailored pilot life insurance for private and professional pilots, covering all life insurance products. We have helped many pilots flying light aircraft get life insurance at standard rates.

We do this by intimately understanding your pilot activities. We undertake a thorough fact-finding questionnaire with you to get a feel for your circumstances.

Regarding flying, questions will include:

• The type of aircraft flown
• The purpose of the flights, commercial or private
• Years of experience as a pilot
• Flying hours per year
• License held
• The Countries flew to and from

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Specialist private pilot life insurance underwriters value our accurate questioning. They trust our thorough fact-finding. They know that the premium quoted correlates to your actual flying activities, so if you die when flying, a payout will occur because it is within the parameters of your life insurance policy.

Importantly, by undertaking an accurate fact find, Insurance Hero ensures your premiums reflect your activities and you are not unnecessarily paying loaded premiums.

Insurance Hero is your pilot life insurance specialist. Contact us today on 0203 129 88 66. Our professional team will be happy to discuss your options and provide you with a quote.

Life Insurance For Private Pilots: Critical Illness Cover

Private pilots life insurance cover associated with the diagnosis of a qualifying disease or medical procedure, critical illness pays out a lump sum.

The cover amount is payable should you survive at least ten days from diagnosis. It provides financial certainty should you no longer be able to work or your ability to work is severely impaired.

Agreement of illnesses covered under any policy occurs at the start of a fixed term. The cover amount self-funds by paying regular premiums into a plan.

Critical illness, including for private pilots and those who fly helicopters, is essential if you have financial commitments or support a family through your earnings.

Critical illnesses are diverse. Here are some examples of qualifying diseases to highlight this diversity:

• Multiple Sclerosis
• Primary pulmonary hypertension
• Motor neurone disease
• Structural heart surgery
• Benign brain tumour
• Creutzfeldt-Jakob disease
• Coma
• Stroke
• Coronary artery by-pass grafts
• Heart valve replacement or repair
• Loss of hand or foot
• Alzheimer’s disease or pre-senile dementia
• Benign spinal cord tumour

Within critical illness, there are three types of cover:

Level Critical Illness Cover

A cover amount stays the same throughout the fixed term of the policy and is neither reduced nor increased.

Increasing Critical Illness Cover

Inflation affects private pilots’ life insurance. The consumer price index measures whether inflation rises or falls in a year. Increasing cover adjusts the cover amount in line with rising inflation. If the CPI falls, that year’s cover amount will remain unchanged.                                                                     

Decreasing Critical Illness Cover

 A type of cover that sees the reduction of the cover amount over the fixed term of the policy. An example may be the correlation of the cover amount to the termination of a mortgage or receipt of an occupational pension. The cover is needed to service financial needs.

Income Protection Cover

Income protection differs from other private pilot life insurance life cover as it pays out a regular salary rather than a lump sum following a claim. The salary relates to your financial circumstances and correlates to a premium amount. The premium is typically paid monthly over the term of the policy.

The salary protection can kick in as soon as one month after a claim. If you are an employee, it is tied to your employer’s policy if you cannot work for a lengthy period. How long is your salary maintained?

Income protection cover for pilots is essential if you have ongoing financial commitments. These include:

• Personal loans
• An outstanding mortgage
• Equity release loan
• Hire purchase agreements
• Credit card debt
• Contract hire

The peace of mind when flying in, knowing you have a watertight policy is crystal clear.

If you have dependents financially relying on you as a private pilot, why not contact Insurance Hero today for a quote? Fly with peace of mind, knowing your loved ones are covered should anything happen to you. Call us on 0203 129 88 66. Life insurance plans for commercial pilots are also readily available.

You can also check our article about life insurance and critical illness policy.