Question

[blue_wynd]

So the guy is unemployed and used to be a pilot a few years back. Said I write a life policy based on his current occupation, or rather lack there of. Should I make sure the insurer knows that there is a possibility he might go back to be a pilot?

If say he does go back to being pilot after policy already approved and issued as him being unemployed, any effect come claim time?

What is the correct way of approaching this? Thanks.

 

[xrac]

So the guy is unemployed and used to be a pilot a few years back. Said I write a life policy based on his current occupation, or rather lack there of. Should I make sure the insurer knows that there is a possibility he might go back to be a pilot?

If say he does go back to being pilot after policy already approved and issued as him being unemployed, any effect come claim time?

What is the correct way of approaching this? Thanks.

Either on the app, appended information or cover letter you should explain that individual has been employed as pilot and still retains license.

 

[blue_wynd]

Either on the app, appended information or cover letter you should explain that individual has been employed as pilot and still retains license.

Any idea if it effects underwriting If I put that down? Eg. premium, class, flat rating.

 

[pettola]

I had a similar situation a few months back and it resulted in a standard rating (from preferred) with AVIVA. Difference of $32.51/mo

 

[WinoBlues]

Any idea if it effects underwriting If I put that down? Eg. premium, class, flat rating.

Do an aviation questionnaire then shop him out through a brokerage. Type of plane, hours, ratings are all important and will determine his rate. Shoot me an email if you need a questionnaire.

Lee

 

[GreenSky]

A pilot's certificate is issued for life. The currency is based upon a medical review every 2 years (if 40+ years old).

There is nothing that will scare an insurance carrier more than someone who has a pilot's license and doesn't fly. Too many and too few hours will be an issue.

The easy thing to do is just exclude the flying if he doesn't plan on returning. If he does decide to fly again, just get an accident policy. Assurity's accident plan does not exclude flying.

Problem solved.

You're welcome.

Rick

 

[WinoBlues]

A pilot's certificate is issued for life. The currency is based upon a medical review every 2 years (if 40+ years old).

There is nothing that will scare an insurance carrier more than someone who has a pilot's license and doesn't fly. Too many and too few hours will be an issue.

The easy thing to do is just exclude the flying if he doesn't plan on returning. If he does decide to fly again, just get an accident policy. Assurity's accident plan does not exclude flying.

Problem solved.

You're welcome.

Rick

Good point on excluding, not for this case, I did that last year on a newly retired Navy pilot. As I recall LFG gave him preferred rates.

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The other part of the question. He is underwritten at time of app. So if he starts fly, racing cars or jumping out of aircraft does not matter.

 

[GreenSky]

Good point on excluding, not for this case, I did that last year on a newly retired Navy pilot. As I recall LFG gave him preferred rates.

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The other part of the question. He is underwritten at time of app. So if he starts fly, racing cars or jumping out of aircraft does not matter.

But since he does have a valid pilot's certificate, how can he not say "yes" on the app?

Also, the Navy pilot may not have a private pilot certificate.

Rick

 

[WinoBlues]

But since he does have a valid pilot's certificate, how can he not say "yes" on the app?

Also, the Navy pilot may not have a private pilot certificate.

Rick

I was answering more the question of if they start something after issue.

I want to say he did. Comercial, as I recall.