Originally Posted by
Swass
There's a possibility that I can get pilots disability that you would personally own (meaning you take it with you job to job etc.) that would pay 60% of your salary in the event you cannot pass your medical for whatever reason. This policy would not cap out, there is no ceiling to income potential. If you make 300k, they would pay 60% of that amount. The premiums would vary as to age but typically between 150 to 275 a month for benefits that would be in line with pay scales. The elimination period can be as low as 30 days, then you start drawing disability.
The beauty is that you would own the policy and can take it with you, there is nothing more than a medical questionaire, no physicals or other such nonsense.
Tell me what you think....
While I applaude the idea, Im questioning if it would only be a good ROI for anyone but legacy carrier pilots. Im not sure $275 a month premium is worth it when your salary is around 1200/month, especialy for younger new FO's on a regional, who might be statistically less likely to lose a medical. Now one good point I'll add is that as you age in the industry, in theory your pay goes up, as your statistical chance of losing that medical does also, so their has to be a point at which it would definatly be worth it.