Term life insurance
 

Looking for $500k 20 year term life and just got a quote from Prudential for a stupid amount like $700+/month.
ACMI long haul and yes hazmat.
Anybody have any bright ideas.
There’s got to be like 6-7000 pilots in the same risk bracket.

No bankruptcy, one speeding ticket in 19 years, not overweight yadayadayada....

I know age might be one of the biggest factors, and by the looks of it ("Tiredsoul") you don't sound like a spring chicken. [emoji15]Checkout ALPA or NMAA if you qualify for either.


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Mentally I’m 12 years old lol.
I’m not with an ALPA carrier.
Website of Selectquote doesn’t open where I’m currently at so I’ll go digging when I’m back stateside.

https://www.traversaviation.com/

I'm working with them at the moment. So far the AIG policy that they quoted me is the best rate I've found.

Does your company have a term policy on you?

Yeah but I’d like SWMBO to not have to worry about paying off the house and leave a couple of years wages in case of a premature demise.

Harvey Watt has good policies. They deal with Pilots, hazmat, combat areas, etc.

Let everyone know what you end up with in general. I'm interested in something as well; haven't a clue where to start (my present policy is good for another 2 yrs or so.....then poof!)

Same question was discussed on a facebook pilot thread one or two months ago, so data is probably still decent:

46 yo male, 20 yr term for 1.5million = $230/month (Prudential)

42 yo male, 20 yr term for 1.25million = $700/year (Zander)

41 yo male, 20 yr term for 2.5million = $170/month (Selectquote)

The above three were either flying part 121 or part 135

Someone also recommended Northwest Mutual but didn’t say what they were paying for their policy.

When I was looking a couple of years ago the 121 was not a problem. The international was. The international into Afghanistan was a show stopper for everyone except Harvey Watt.

Thank you all, I’ll let you know how this pans out.

Try through AOPA. They have good companies and 121 ops is not an issue.

I used these guys before and was really satisfied. Too bad my 15 year term is up next year.

I’m right in the middle of obtaining a 20 yr term with Zander Ins. So far so good - quote was reasonable (i.e., not $700/mo...). I should have a final offer any day now. Blood draw was about a month ago. I’ll try and remember to come back on here and report how things end up.

I just did my through policy genius. Got $1M, 20 year, $66/month
$500k, 30 year, $53/month
Both ended up through Prudential. Retired military, flying with a 135 company, 39 year old male.

I found the same problem. International scares most companies and doubled (or more) the premium. And I didn’t even list war torn countries (i.e. afghan.)....

Travers aviation came back with $78/month for 20 year $500k.
Figured that was kinda low and it was without hazmat and Sandikistan so they’re crunching the numbers now.

That seems high for a starting point with no added hazards. At age 34, I got a $400K 20-year return of premium policy (which significantly increases the premiums because they give them all back at the end of the term) for $1064 a year. (I'm looking forward to the big check in a few years, but if you do the math on the opportunity cost, it's a little depressing.) A few years after that, I got a $500K 15-year policy for $460 per year.

Both of those were when I was flying 135, which tends to incur a penalty. I don't remember any specific hazmat questions during the application, but we were authorized to carry it, so if there were, that would have figured in there.

That is certainly true. But nothing like the penalty for a "121 airline" that is carrying military cargo into the crapistans. Which is the underlying, but not clearly expressed, issue that is at hand.

*secret handshake

https://wwwaviation24be-q41r3jh.stac...ng_1_2_1_1.jpg

Besides being a commercial pilot, do you fly GA? Do you ride motorcycles?, skydive?, scuba dive? etc? all possible exclusions and increase premiums for riders.
Cheap insurance for any pilot is a flag and likely includes exclusions that wont work. Ask closely about exclusions, and every underwriter has a byzantine cost and approval structure. Read all fine print for their ability to deny your beneficiaries your policy pay off after your demise.
Good fortunes

Travers is starting to get the shakes as far as Sandikistan.

Ok so Travers is off the table based on my travel destinations.

I gave up on life insurance a long time ago. I have it through work, but with exclusions, most of which are aviation exclusions. AOPA offered it, but it didn't cover being killed in an aircraft.

I've been quoted something like 2,500/month for life insurance, which is absolutely ridiculous, given a long history of aerial firefighting, and other activities. I was told at one point that if I could show enough time away from aerial fire in particular, and would sign a legal statement that I would never do it again, I might be able to get a lower rate.

Nobody seemed concerned about flying in Iraq, Afghanistan, etc.

Harvey Watt...aviation policy 850$ for 500k 20 yr.... only general aviation exclusion.

Buy a small policy and name somebody with constant bad luck as the beneficiary. Then you’re bulletproof. :D

Have you tried it as an aerial firefighter, with a background in ag, a lot of years jumping out of airplanes, etc?

Well as I am not planning on jumping out of airplanes why would I? ...I was looking for a policy that covered what I currently do fly 767s for a major airline. I did not ask if it covered space shuttle pilots either as it did not apply. I am fairly certain the original OP was looking for something along those lines also. Just get what you need.

True and so far I’ve been turned down by one and still have two lines out there.

Well, you quoted me and replied to me with your comment about Harvey Watt. I'd just told you that depending on experience, life insurance might be very difficult or impossible to get, and your response was to quote a low cost long term life insurance.

I responded by reiterating that this low cost isn't necessarily possible for all...and it appears you didn't actually listen.

You got a great deal. It must be nice for you.

As for why you wouldn't jump from an airplane, perhaps simply because you don't now what you're missing. That, and the fact that most jump airplanes are such wrecks that it's safer getting out than landing with them.

Given that many others, beside the original poster, may also want life insurance, it's reasonable that individual background (and thus cost and availability) are worthy of consideration. As I speak for none other, I offered my own.

You told your experience finding life insurance...I told mine. I think most can figure out where they fall in between. As to why I don't jump out of airplanes that are not on fire...its the same reason I don't climb on my roof to repair/install something. It looks good on paper until you break your back and end up in a wheelchair.

Hopefully your dining room table comes with air bags and someone remembered to blunt the forks.

Fly safe.

And your chute opens...I flew with a guy whose didn't. Wore a 2 inch shoe lift and 37 broken bones. Could not sit for more than 30 min....fall safe.

Already been there, got the tee shirt, thanks. I woke up in intensive care. It was my fault.

Life goes on.

I am ok without that life lesson...

Can we stop with the ****ing contest and stay on track?

You have not got enough information yet? Maybe that was the "track" .
Make some calls get some quotes,
pick a policy. For Christs sake what's left?

Anyone looking into term life, PM me. I actually sell life insurance whenever I’m not flying. I’d be more than happy to try and find something that’s right for y’all. I don’t offer it, I can try to point you in the right direction.

Personally, I got a 463K on me and 350K on the wife. We’re paying $99 month. Granted, we’re in our twenties, but Primerica didn’t have any issues with me being a pilot.

Did you show people your ID? Maybe you'll get a discount.