The cost of life insurance can is influenced by your occupation. If you are in a dangerous occupation and you are exposed to the risk of death during your work, you will be paying more for life insurance. If you are a pilot, you may be required to pay more for life insurance. Besides the high cost, pilots come across numerous obstacles when applying for life insurance. Post 9/11 the obstacles have only increased.
If you are a pilot employed with a commercial airline you wouldn’t face much problems. But if you are a professional pilot working who flies for missionary or relief work in many countries around the world, things will be a little difficult. For starts, most insurance companies do not offer coverage if you are operating in a country designated as unstable. Most missionary and relief works are done in such countries. There have also been positive changes. Earlier the insurance companies didn’t distinguish to any great degree among types of flying. They categorized all pilots into the same risk pool. Commuter pilots, weekend warriors and agricultural application pilots were considered part of the same risk group. Now the insurance companies have started splitting pilots into different categories based on the type of flying they do. As a result the premiums have come down for most pilots. Companies will offer you a premium in keeping with the type of flying you are doing. It ensures pilots are not clustered together and divides them into categories according to the level of risk involved in their flying. The casual pilot can enjoy a lower premium than a commuter pilot, who in turn will enjoy a lower premium than an aerobatics enthusiast. There are two other reasons why the cost of life insurance for pilots have come down. People with higher incomes and higher education have a lower mortality rate. As a group, pilots have higher education and higher incomes than average. Pilot have to undergo regular medical examination as part of their job. This ensures that they are in the best of health at all times. Insurance companies also reduce the premium taking advantage of the fact that pilots tend to stay with one policy longer than do non-pilots.
A pilot savvy insurance agent can be of immense help if you are looking for life insurance as a pilot. An insurance agent well-versed in the differences between pilot certificates and ratings, different aircraft, and different types of flying can find the best rate for a particular pilot.
