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Accidental death policy

punkin

Well Known Member
For lots of reasons that only underwriters will ever know, for the last few years, I have carried a life insurance policy that excluded general aviation related death, and an accidental death policy through Petersen that ONLY covered GA related death. As stupid as this sounds, it was substantially less expensive than the same coverage under just the life policy.

Petersen has now informed me that the policy I've carried will no longer be offered in Colorado. So, after January 18, I can die in any conceivable way, EXCEPT as the pilot at the controls of a GA airplane, and my family is covered.

Is anyone aware of a similar accidental death policy that covers general aviation that I might look into? My longtime "insurance guy" is kinda throwing up his hands. Petersen was his "magic found after turning over rocks" and he's got no more rocks left to turn over.
 
I bought my two Whole Life policies prior to becoming a pilot. I remember there was a question on the application about it. After getting my license I have always assumed that I was covered, but never verified it. I'll have to check. They can't add restrictions after the fact, can they?
 
Your better off assuming your not covered. I called on my term life policy a few weeks ago and I was told that it would not cover any aviation related death. I posed the question of dying on a commercial flight and her response was my policy would not cover any aviation related accident. I need to call them back and speak with someone else. I figure I would be covered for a commercial flight but not a GA flight.

I need to look into a AD&D policy. The little research I've done to date, there are restrictions. In a plane or car if you have a medical issue which causes you to have an accident the AD&D policy would not pay. A life insurance policy should in that case.
 
Ditto. Safe to assume that most, if not all, life insurance policies will not cover aviation (let alone, GA).
If you click through the ads on AOPA it will take you to a few insurance brokers. I ended up buying a full insurance (underwritten by Prudential) from one of the brokers. It is not cheap but not insanely expensive either. Hurts just a little every month at check-writing time. :)
 
I had to search hard to find a replacement for my USAA term policy after it expired and their costs skyrocketed. Didn't think the wife would be on board the whole death defying plane built in a garage thing without life insurance. You know how that goes.

Tried AOPA and EAA and policies with aviation were available but costs were prohibitive like with USAA. Almost gave up until I found Jeff Rodriguez who is in my wife's BNI group. He turned over rocks for me and found a policy with aviation included for about half the other guys. Had to take a mini physical which I think helped bump me into a better category. It took him a while to find the company and policy which is at North American Life Insurance. Google search of the company shows they're reasonably reputable.

Absolutely no connection other than a happy customer. He's an independent agent. Here's his contact info if you're looking.

Jeff Rodriguez - 210-325-6282 - PINNACLE LIFE & HEALTH
 
Is anyone aware of a similar accidental death policy that covers general aviation that I might look into?

I have been very happy with Travers & Associates Aviation Insurance Agency. I have a life insurance policy with them that covers general aviation activities (along with anything else other than committing felonies or suicide). Will it pay? I'll never know....

My term life policy with Travers is approximatley the same cost as supplemental life insurance that I can purchase through my employer (although that policy does not cover General Aviation).
 
Almost all life insurance policies won't pay if you are a crewmember.
We typically need specific policies which cover General Aviation.

I bought my policies in 1969 and 1989. I doubt they had the disclaimers then, and don't see how they could legally be added after the fact - but I will look into them and get a real answer.
 
Travers uses Petersen...

Andrew, I was excited that you seemed to be describing what I wanted...and I clicked through their website and their product is EXACTLY the product that I had. It's great if you can get it.

Apparently something regulatory changed in Colorado which has caused them to remove the offering in this state.
 
I got my first 35 year term policy around 1991, a couple of years after getting my PPL. I've added two similar policies since then as my income and liabilities have increase and the only stipulation with any of these is that I couldn't be an instructor. They had no problem at all with me flying/piloting.
 
the only stipulation with any of these is that I couldn't be an instructor. They had no problem at all with me flying/piloting.

That strikes me as odd stipulation. For many years the fatal instructional accident rate has been lower than that of general aviation as a whole.
 
I guess it is related to exposure to that rate. Instructors easily get 10-20 times more flight time (exposure) to that rate.
Insurance is all about number crunching.
 
I guess it is related to exposure to that rate. Instructors easily get 10-20 times more flight time (exposure) to that rate.
Insurance is all about number crunching.

"Active" CFI's, yes. But the vast majority of CFI holders are either inactive, or very much part time. At the same time, some GA pilots fly a lot, some little. You'd think they would have asked for annual hours flown, rather than a blanket prohibition.
 
You'd think they would have asked for annual hours flown, rather than a blanket prohibition.
Easier to just eliminate all pilots from your pool of liability. Even if that means you lose all your pilot customers, it's still a vanishingly small percentage of your business.
 
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Medical Insurance Coverage vs Life Insurance Coverage

Related but different topic, medical insurance vs life insurance.


I just retired and moved from company medical plan to my own privately purchased plan. All the medical policies I reviewed had an exclusion for flying.

So if I have a bad crash, from my wife's financial perspective, I need to die and and let her collect life insurance (I bought life insurance policies that cover aviation) as I will not have an medical coverage beyond the basic $10K of medical coverage in my RV insurance.

I spoke to Falcon and AOPA about getting a rider medical insurance policy for more medical coverage but none was available.
 
Even if your plan covers being a "General Aviation" pilot, it still might not cover death in an Experimental aircraft. I asked HR about aviation exclusions for the AD&D policy at work, and they said "nope!" but when I specifically asked about Experimental aircraft, she double-checked, and they won't cover that. We have life insurance through AOPA specifically because of this. :rolleyes:
 
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