For this reason insurance companies views on helicopter flying are equally varied and many of them will consider the occupation a high risk and increase the price or limit the cover.
Luckily there are one or two insurers who take a more sensible approach and we can put you in touch with an adviser who has experience in this area. Simply complete the form below.
The most well known types of insurance that can be affected include:
- Life Insurance – pays a claim in the event of death
- Critical Illness Cover – pays a claim on diagnosis of a set number of illnesses or severe injuries
- Income Protection – pays a monthly amount if the policy holder is unable to work due to illness or injury
When buying any of these types of cover the best outcomes that can be expected are:
Life Insurance – a ‘standard’ or ‘ordinary’ rate decision is the best that can be expected and this means the price is unaffected by helicopter flying as an occupation.
At present there is only one mainstream insurance company that is happy to offer ‘standard rates’ to all commercial helicopter pilots in the UK (so anyone who flies as their occupation) including offshore, police & ambulance, instructors etc. The only potential exception is search & rescue due to the adverse weather conditions and low altitudes.
A few other mainstream insurers can also consider ‘ordinary rates’ depending on the size of helicopter flown, the number of hours flown per year and the regions of the world the flying takes place.
An ‘Aviation Questionaire’ may be required and if the type of flying is particularly hazardous it could result in a less favourable decision but this is looked at on a case by case basis.
Critical Illness Cover – in terms of price a ‘standard’ rate decision is also favourable but while several insurers may offer standard rates they may also ‘exclude’ helicopter flying from the cover. Therefore a standard rate decision with no flying exclusion is considerably more preferable.
In addition, critical illness cover includes a ‘total & permanent disability’ benefit whereby a claim is paid if the policy holder becomes permanently disabled. The level of disability required for a valid claim can vary.
Some insurers may decline all types of disability and serious injury from the cover and only cover illnesses.
At present a small number of inurers are able to offer ‘total disability’ cover to commercial helicopter pilots however the level of disability required for a claim would need to be more severe than say, an office worker. This also depends on the size of aircraft, hours flown and location.
Income Protection – unfortunately any type of income protection is likely to exclude flying if it is purely an income protection policy. Some ‘Loss of License’ cover includes an element which provides a monthly benefit and it is also possible to set up a Critical Illness policy to pay a monthly amount as opposed to a lump sum (you could even have a policy that does both).
All of the above types of cover are extremely important to anyone with a family to support and protect so it is sensible to not only try and get the best price for cover but to also make sure the level of cover is the best available.
Making use of an adviser who can act as an intermediary and research all the options based on a particular set of circumstances will help pinpoint the right cover for the right price.
Better quality cover at a higher price is always worth considering if it is within budget.
Life insurance is quite straightforward because only one thing needs to happen before a claim is paid.
Critical illness cover varies from one insurer to the next. Some cover more illnesses than others and pay partial claims based on how severe a condition is.
Income protection cover is also affected by how severe an illness or injury is and some policies will not pay a claim unless the policy holder is severely disabled.
For helpful, impartial advice get in touch with an experienced adviser by completing the form below.