Term Life Insurance companies.....

Fly91

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What are some of you guys/gals using................


Thanks.
 

ualdriver

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What are some of you guys/gals using................


Thanks.
I think that if you're going to base your term life insurance choice on what other guys are using, that may not be a good path to go down. Everyone is so different that a "good" company for one pilot chosen 10 years ago to answer your question may not be a "good" company now, or perhaps wouldn't even provide you with the best rate because his life situations may be different than yours.

Anyway, check out a site like term4sale.com or get a good insurance broker who has a big pool of insurers to choose from. Go to that website, for example, enter your data, and see where the prices fall. When you narrow your choices down and talk to individual companies, take a look at their financial ratings (ask them) from A.M.Best, Standard and Poor's, Fitch, Weiss, etc. The website I gave you uses A.M. Best.

Also make sure that if you fly light aircraft regularly, or scuba dive, or do similar "risky" activities that you tell the insurer when you get your quotes. You wouldn't want your family to go through financial hardship upon your death if your coverage were to be denied due to an undisclosed "risky" activity like flying around in a Cessna 172 at the local airport and unfortunately being involved in a fatal accident in that aircraft.

I'll say one more thing.....if you deal with an "insurance guy," make sure you hand is firmly on your wallet while you talk to him. Likely he will try to sell you high-commission, more profitable policies like whole, universal (and its variations), variable universal, etc., etc. For most people it is much cheaper to simply use term. If he starts giving you a big sales pitch, just ask him if he is acting as your fiduciary when giving you advice, and that should shut him up :)

Good luck.
 

Fly91

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I think that if you're going to base your term life insurance choice on what other guys are using, that may not be a good path to go down. Everyone is so different that a "good" company for one pilot chosen 10 years ago to answer your question may not be a "good" company now, or perhaps wouldn't even provide you with the best rate because his life situations may be different than yours.

Anyway, check out a site like term4sale.com or get a good insurance broker who has a big pool of insurers to choose from. Go to that website, for example, enter your data, and see where the prices fall. When you narrow your choices down and talk to individual companies, take a look at their financial ratings (ask them) from A.M.Best, Standard and Poor's, Fitch, Weiss, etc. The website I gave you uses A.M. Best.

Also make sure that if you fly light aircraft regularly, or scuba dive, or do similar "risky" activities that you tell the insurer when you get your quotes. You wouldn't want your family to go through financial hardship upon your death if your coverage were to be denied due to an undisclosed "risky" activity like flying around in a Cessna 172 at the local airport and unfortunately being involved in a fatal accident in that aircraft.

I'll say one more thing.....if you deal with an "insurance guy," make sure you hand is firmly on your wallet while you talk to him. Likely he will try to sell you high-commission, more profitable policies like whole, universal (and its variations), variable universal, etc., etc. For most people it is much cheaper to simply use term. If he starts giving you a big sales pitch, just ask him if he is acting as your fiduciary when giving you advice, and that should shut him up :)

Good luck.
Thanks.

I just got a quote which I thought was ridiculous for term life. $1,000,000 for $320.00 per month. I told him I'm a pilot and I fly all over the world in different types of jets. And that I also occassionally fly small prop planes locally for fun. I actually did mention that I scuba dive regularly and that I fly aerobatics occassionally. I also told him I target shoot, carry a gun, and once a month go drag racing with one of my modded cars.

I wanted to lay everything out there I could, because like you said, I want everything diclosed and then some so there's no bullsheep later on if something happens to me.

But lets say I go bungy jumping in 4 years and I've never done it before, and I die........can they void the claim because you didn't tell them you MIGHT do something dangerous in the future?
 
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ualdriver

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Thanks.

I just got a quote which I thought was ridiculous for term life. $1,000,000 for $320.00 per month. I told him I'm a pilot and I fly all over the world in different types of jets. And that I also occassionally fly small prop planes locally for fun. I actually did mention that I scuba dive regularly and that I fly aerobatics occassionally. I also told him I target shoot, carry a gun, and once a month go drag racing with one of my modded cars.

I wanted to lay everything out there I could, because like you said, I want everything diclosed and then some so there's no bullsheep later on if something happens to me.

But lets say I go bungy jumping in 4 years and I've never done it before, and I die........can they void the claim because you didn't tell them you MIGHT do something dangerous in the future?
The bungee jump question is probably one you should ask a insurance pro- and I am not one. Personally, I wouldn't partake in a bungee jump or fly in an ultralight or any other behavior that might be perceived as "risky" by the insurance company without calling the insurance company first to make sure I'm covered if I were to die doing that. That sounds crazy, but it wouldn't be worth hurting my family financially if I were to die in an uncovered activity.

Considering the activities that you participate in, I'm not surprised that your quote is that high. In fact, you participate in such "interesting" activities (all of which I would enjoy very much myself!) that the website I gave you is probably useless. I think they only way you're going to find decent coverage is calling insurance companies individually or dealing with a broker.
 

LAFrequentflyer

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<1,500
Army Air Force Mutual Aid term lfe is the best I've found.......800K coverage - no war, no aviation clause...
 

Fly91

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The bungee jump question is probably one you should ask a insurance pro- and I am not one. Personally, I wouldn't partake in a bungee jump or fly in an ultralight or any other behavior that might be perceived as "risky" by the insurance company without calling the insurance company first to make sure I'm covered if I were to die doing that. That sounds crazy, but it wouldn't be worth hurting my family financially if I were to die in an uncovered activity.

Considering the activities that you participate in, I'm not surprised that your quote is that high. In fact, you participate in such "interesting" activities (all of which I would enjoy very much myself!) that the website I gave you is probably useless. I think they only way you're going to find decent coverage is calling insurance companies individually or dealing with a broker.
Ok, cool, I'll do some checking. Yeah, I'm an extremist kind of nut. But I would never bungee jump either, thats just asking for trouble.
 

Fly91

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Army Air Force Mutual Aid term lfe is the best I've found.......800K coverage - no war, no aviation clause...
I'll check them out, thanks.

Looks like its for active or honorably discharged military personnel.
 
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spitfire1500

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Enough
I use ALPA's insurance with NY Life $500K. The medical and two interviews were a pain in the arse!!
 
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