Term life and new hobby - flying small airplanes

[Piotrpaw]

I bought my term life insurance some 6 years ago (it's for 20 years). I am just about to start private pilot training school. I looked very carefully through my contract and it doesn't mention being a private pilot in the exclusion section. Is it possible that in the tragic even that I die in a plane crash my insurance company would not pay the benefits?
Thank you

 

[eersfan]

I bought my term life insurance some 6 years ago (it's for 20 years). I am just about to start private pilot training school. I looked very carefully through my contract and it doesn't mention being a private pilot in the exclusion section. Is it possible that in the tragic even that I die in a plane crash my insurance company would not pay the benefits?
Thank you

Since you weren't contemplating getting your private pilot license 6 years ago, it shouldn't be a problem. As a private pilot, I had to disclose my total annual flying hours as well as total flight hours years ago when purchasing life insurance.

In the event you purchase additional insurance, you will pay an extra flat dollar amount/ thousand of face amount until you build up enough hours. Where life insurance companies have the most risk are those pilots who fly less than 50 hours/ year or slightly more than that. It's going to vary by company.

Good luck with your training. There is nothing better than going for a Sunday drive...at 5,000 feet on a cloudless day. BTW...I fly a Cessna 172.

 

[Piotrpaw]

Thank you for a VERY nice reply .... and the good news. The idea that I could be living my wife and children without a penny made me feel like I'm about to do the most selfish thing ever. Incidentally, I'm considering two schools: one trains on Diamonds (DA40), the other one on 172XPs... Thanks, again!

 

[GreenSky]

Strongly suggest the 172. You can rent one damn near everywhere.

I bought my life insurance before my private pilot training and now own one of the nicest and well equipped 172N around.

Rick

 

[eersfan]

I agree with GreenSky...go with the 172.

 

[Embraerjetpilot]

On a side note.. how do I sell enough life insurance to actually be able to buy a Cessna 172XL.....

 

[eersfan]

On a side note.. how do I sell enough life insurance to actually be able to buy a Cessna 172XL.....

Talk to lots and lots of people.

 

[GreenSky]

I agree with GreenSky...go with the 172.

I'm thinking of selling my 172 and for about 1/2 the money buy a Beech Musketeer.

Rick

 

[Embraerjetpilot]

I'm thinking of selling my 172 and for about 1/2 the money buy a Beech Musketeer.

Rick

Is that a super underpowered plane? I think I remember giving someone a check ride in one of those about 20 years ago... and I thought a 152 was underpowered.

 

[eersfan]

I also had a Citabria that I used for towing aerial banners. Neat and nimble "bird".