Over the last 30 years there has been great progress in getting better rates on life insurance for people involved in aviation. The unfortunate truth is that pilots have been penalized for many years whether they participate in recreational or commercial flights. We will shop over 60 life insurance companies and match you with the one that gives the best rates for life insurance. To help you do your own research we put together some of the most common questions we get in regard to pilots obtaining life insurance.
Life insurance is one of the most important investments that you could ever make for your family, but as a pilot, you might be worried about finding a plan that you can fit in your budget. This article is going to look at some of the most common questions that we get and ways that you can get cheaper life insurance protection.
Why Do Companies Penalize Pilots With Higher Life Insurance Rates?
It used to be that pilots were at significantly greater risk of dying in their occupation and hobby. As planes and helicopters have become safer and our understanding of air travel has progressed many of the companies have not updated the way they underwrite a pilot policy. The good news is that there are life insurance companies that have updated their underwriting and can even offer preferred rates in some cases.
There are millions of pilots that look for life insurance, but they assume that they can’t qualify for an affordable life insurance plan, but that couldn’t be further from the truth. Regardless of your occupation, hobby, health, or any pre-existing conditions, there are plenty of affordable and quality life insurance plans that you can purchase.
What Influences The Rates For Life Insurance?
Life insurance companies are going to look at the most common indicators for how risky your piloting is. These indicators include:
- Average pilot in command hours per year
- Total PIC hours
- Type of aircraft (plane, helicopter, experimental, etc.)
- Date of Certification with FAA
- Type of license (Commercial, Instructor, Private, etc.)
- Accidents or violations
If you are working with an agent and they are not asking these questions then you are not working with an agent who knows how to get the best life insurance for pilots. These items allow a good agent to find the company that views your risk the most favorably. Since we know which companies work the best with airline pilots and helicopter pilots and veterans life insurance we can focus on those insurance companies and not waste your time with those that do not underwrite properly for pilots.
Getting Affordable Life Insurance Coverage
One of the most common reasons that pilots don’t get a good life insurance policy is because they assume that it’s going to be too expensive to fit in their budget, but that couldn’t be further from the truth. There are several ways that you can get lower insurance premiums from the company and keep more money in your pockets every month.
The first thing that you should do is start getting regular exercise. Before the insurance company approves your application, they are going to require that you take a medical exam, and the results of the exam are going to play a major role in how much you pay for your insurance plan. Getting better results is going to mean lower premiums, and one way to do that is by hitting the gym. You don’t have to go lift weights for hours every day to get lower insurance premiums. It’s time to lace up those running shoes, it could save you hundreds of dollars every year.
The next thing that you should do is start a healthy diet (and stick to it). Making a few healthier dietary changes could have a huge impact on your life insurance premiums and your waist line. You can still enjoy your favorite foods, but cutting out the junk food is a great way to help you lose any extra weight, lower your blood pressure, and drastically improve your overall health, which is going to get you better rates.
A great way to secure lower rates is to eliminate any tobacco that you currently use. Smoking drastically increases your risk of being diagnosed with severe health complications later in life. If you’re listed as a smoker on your insurance application, you can expect to pay much higher premiums. In fact, smokers are going to pay around twice as much for a plan versus what a non-smoker is going to pay for the same sized plan.
The best way to ensure that you’re getting the lowest insurance premiums is to compare dozens of quotes before you decide which company is going to give you the best plan for your life insurance needs. Every insurance company is going to look at pilots differently, which means that you could get drastically different rates depending on which company that you get the quote from. Finding the perfect company could be the difference in getting an expensive life insurance plan or getting an affordable one that fits in your budget.
There are thousands and thousands of different insurance companies on the market, which means that you could spend weeks and weeks calling different agents, or you can let one of our independent insurance brokers do all of the work for you. We work with dozens of highly rated companies across the nation to connect you with the best plan to meet your needs.
Our agents have years of experience working with pilots and other high-risk applicants, which means that we know which companies are going to give you the best rates based on your situation. We know how important life insurance is, and it’s our mission to help you get the most affordable plan to give your family the protection that they need.
Calculating Life Insurance Needs
Before you apply for insurance, it’s important that understand how much life insurance coverage you need. Not having a large enough plan could leave your family with leftover expenses and bills. Those bills can easily add up to hundreds of thousands of dollars. When you’re looking at your life insurance needs, there are several different numbers that you need to account for.
The first number that you should crunch is all of your debts that your family would be responsible for, like your mortgage and car payments. Make sure that your life insurance plan is going to be large enough to pay off those debts and ensure that your loved ones aren’t left with a mountain of debt.
The next number that you should look at is your annual income. If you have family members that rely on your paycheck, they would suffer financially if something were to happen to you. That’s where your life insurance plan comes in. Your policy will give them the money that they need to replace your course of income and pay for any necessary bills without having to sacrifice their standard of living.
Additionally, you should consider buying a plan that will can give back to any charity or non-profit. Millions of people use life insurance policies to leave a legacy to any charity that is close to their heart. It’s a great way to continue giving back, even after your passing. You can set aside a portion of the insurance payout to go directly to a charitable organization.
What Makes Your Quotes Different?
The biggest part of getting low rates on pilot life insurance is to do the manual labor of checking with the best companies. Every insurance company is different, and all of them are going to offer you different insurance premiums based on their medical underwriting and rating system. Finding the perfect company could be the difference in getting an affordable plan or getting a plan that’s going to break your bank every month.
There are even no medical exam life insurance policies available! No medical exam policies have several pros and cons that you should take note of when you’re shopping for life insurance protection. Our agents can walk you through the process to decide if one of these plans will work for you. Most life insurance agents are not willing to do this work so they will check with several companies but just take at face value the quick quotes that they give. At InsureNow365.com we will shop all the companies that offer the best rates on life insurance for pilots and make sure they fully understand your risk. This is what truly sets our agency apart when working with pilots.
We would appreciate the chance of earning your business. I hope that you can see what sets us apart in dealing with pilots life insurance. You can get started by using the form on this page or calling us at the number at the top of the page. If you have any questions or if there is any way we can serve you please let us know.
If you have any questions about getting life insurance for pilots or about the different options available to you, please contact one of our agents today. Our agents would be happy to answer those questions and ensure that you’re getting the beset policy to meet your needs. Not having life insurance is one of the worst mistakes that you could make for your family. Because you never know what’s going to happen tomorrow, you shouldn’t wait any longer to get the life insurance protection that your family deserves.
We know that finding the perfect insurance plan can be a long and frustrating process, but it doesn’t have to be. Our agents can make the process as quick and simple as possible. Please contact us today and we would be happy to get the process started. Our agents have years of experience working with all types of clients across the country. We know which companies are going to give you the lowest rates as a pilot. It’s our mission to ensure that you’re getting the best life insurance plan available. You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance coverage that your family deserves.