Life Insurance

[slysi]

I know this topic has been discussed at length but I still have a niggling unanswered question. How will my decision to fly either trikes or three-axis effect my current life insurance. I have 'heard' that flying trikes is considered an extreme sport and will consequently not be covered. Not a great position to leave my family in!!!! This could be a serious dent to my dream.

I know 'Big G' is in insurance, any comment??

Thanks

[Morph]

As long as you are licenced, have a valid flight medical, are flying in a licenced plane with a current authority to fly you should be OK. There is still a bit of a premium that you would pay but it depends on hours flying per year etc.

I am with Greenlight through Old Mutual and as long as I fly between 50 and 150 hours per year they do not load my premium, on condition you have met the criteria above of course.

If you are illegal, i.e. those issues mentioned above, even your medical aid might have an issue to pay out if you end up in hospital.

[RV4ker (RIP)]

Esasiest is to check with your broker/underwriter. Get them to endorse it on your policy. Some load if you fly less than 50 hrs a year (majority) and some load if you fly less than 50hrs a year.

Also depends what you fly. (Model, maintenance, track record etc...)

[BIG-G]

Hello fellow aviators. Its been ages since I have been on the forum.

Back to the insurance issue. I am a broker with Liberty Life and therefore may not be perfectly accurate for other insurers.

Firstly Morpheus is perfectly right. If you are illegal. Just foget about any cover anywhere.

Generally the policy amongst insurers is to make aviation an automatic exclusion no matter what you fly. This means that if you fly you must make sure that there is an ammendment in the policy waivering the clause. So whatever you fly, trikes, three axis, choppers etc, make sure your policy will cover you. Do not have a case of Non Disclosure.

Cover certainly is available at good rates for most of us. The only problem area seems to be from 0 to 100 hours total. But please feel free to give me a shout for any more advise.

Regards
Grant
082 558-1000

[Tumbleweed]

Hi Big G

Why don't insurance companies acknowledge that flying with a ballistic chute minimises the life risk somewhat, and a slight premium reduction to show it?

[BIG-G]

Trust me I have tried every angle. Unfortunately the Actuaries who decide our rates generally use old stats and not the new.

But I recon we are getting there.

G