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Life Insurance


V Toss
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Hello to all out there in Vertical land.

Just wondering if anyone has problems getting life insurance at a decent price. I am a pilot and have been flying for a couple years now and my life insurance premiums are still high. My broker say's they will lower it with more experience but have had no reductions as of yet ( not from a lack of trying )!

 

Referral's would be apprieciated!

 

thanks

 

Hurby

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Not to wander off topic, but I used to get all kinds of solicitations for insurance. Bugged the **** out of me, until I twigged on telling them I was a helicopter pilot. Never heard back from any of them.

I got insurance way back when, and had the policy written that they could never revoke it. I think this is a very important subject, and it should include disability and loss of licence insurance as well.

Some guys I bumped into this summer had loss of licence insurance, and I was very envious.

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I used to be insured thru ManuLife untill I found they were royally screwing me over. Did some shopping around and had a lot of doors slammed in my face as soon as "helicopter" left my lips. No one else would touch me.

 

I finally got a fair quote from RBC Insurance of all places and they accepted me just last week. Paying $75/month for $150K which isn't a great rate but far better than what ManuLife was stealing from me.

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I'm a Paramedic-Fire Fighter, 39y/o. My wife is 34y/o stay at home mommy, I pay $96.00 per month total for 1 100 000.00 for me and 500 000.00 for my wife's life insurance. I we both get it, that a lot of cake for the kids for $96 a month. That does not include what my employer pays out if I get toasted at work. Thats another 3hun. I average 5 medevacs per year in and under the belly of the 407, (Dope on a rope). My job is high risk for vehicle accidents, needle sticks, disease, fire fighting, rubber neckers hitting me on highway accidents etc, high cholesterol too boot.

 

I thought I was getting hosed. Ryan, I feel for you and the rest of you pilots.

 

Does the company you work for pay out anything in the event of your demise while working for them? Is your insurance extra to what they pay?

 

Fly safe you guys/gals are true heroes, fly safe.

 

UG

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I'm insured through Transamerica Life and I'm paying about $98 CDN/Month for 750k. But this is a 40 year term policy that I plan on changing in about 15 years. Since I started working, I wanted to make sure my wife and kids will have something just in case. Whether this is a high premium or not, I totally feel it's worth the expense.

 

Personally I don't think $100/month ain't too bad.

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Big lesson in all this for any potential student pilots.... get insured before you start flying!

 

I only got $150K just to start with, plus it's all I can afford right now sadly. But plan on bumping it to $500K soon which will run me about $300/month. Would be a lot less if I didn't still smoke. ManuLife quoted me $600/month for $500K as an existing client, at which point I told the agent to go **** himself.

 

One thing I was wondering about though. You know how when you apply they always ask "Do you ever fly over 'sparsely populated regions' as defined by TC?" Well didn't Transport recently remove their definition for what constitutes a sparsely populated region, saying it's now pilot assessed? Could be good for us not have the definition in writting, one less thing they can hold against us I would think. :unsure:

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why waste so much money on an insurance policy that makes someone else rich?

it promotes laziness. When your dead, your dead and everyone else plugs along and life goes on. eventually they forget about you for the most part.

 

As far as I'm concerned you should purchase a policy to cover immediate expenses and some futher expenses to help your loved ones get back on their feet, and thats it.

 

I'd rather spend that cash on something now and make my life more enjoyable while "i" can enjoy it.

 

You must not have any wife/kids

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why waste so much money on an insurance policy that makes someone else rich?

it promotes laziness. When your dead, your dead and everyone else plugs along and life goes on. eventually they forget about you for the most part.

 

As far as I'm concerned you should purchase a policy to cover immediate expenses and some futher expenses to help your loved ones get back on their feet, and thats it.

 

I'd rather spend that cash on something now and make my life more enjoyable while "i" can enjoy it.

 

Look out for yourself and screw your own family. What a douchebag! I hope your family has the same mentality and if you are ever crippled in a wreck have the same mentality and have you live on Gov assistance.

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