Loss of License Insurance

[shon7]

Do most pilots purchase loss of license insurance?

How are the premiums figured out on this? For ex. how much would a Capt. making $100K pay in premiums per year?

In the event that a pilot loses his license due to medical reasons is there a lump sum payout or do the insurance companies still try to screw you. Can' think of how they can have a deductible in this case.

Finally, does ALPA or the Airline the pilot worked with help him get a non-flying position or is the pilot basically left out on his own.

 

[cargoflyr69]

Seems to me that the only way one would loose their license is if they screw up and the FAA revokes it... The medical certificate ofcourse is different. So you are asking what kind of insurance is there if, say, I wake up tomorrow morning with diabetes and can never get a 1st class medical again? I'd think that some sort of disability insurace would do the trick. I think that AFLAC company specializes in that kind of supplemental insurance.(you know the company with the duck commercial) Otherwise, I think Uncle Sam will let you draw from your social security funds early if you are medically disabled and cant work. That probably won;t pay even pay the bills though. I'm not an expert by any means, but those are my thoughts. As far as a pilot specific policy... Don't think I've ever heard of one.

 

[flx757]

As far as a pilot specific policy... Don't think I've ever heard of one.

Absolutely. The Harvey Watt Co. in Atlanta specializes in just this type of policy.

http://www.harveywatt.com/