Bohica

Yeah, you might try asking others who have similar situations "as far as background, kids, etc" as you do, to see what they think or what they have found out.

You know, research.

MaydayMark

This forum should suffice as adequate research in as much as most people on this board know everything!

iarapilot

Most people! Ha!

AerisArmis

[quote=FredEx;251482]A little sharp on my reply? Excuse me, sir, I was just responding with the same sarcasm I received. May I not respond to sarcasm with sarcasm?

If you don't get sarcasm from MM, he's dead or on vacation. His sarcastic response was just his way of letting everyone know he was still alive.

SlvShpDrvr

it wasn't my intent to imply that I wasn't doing my own research......just thought I would find out what a few other guys in situations similar to mine had decided on. Thanks for the input.

Bohica

Drvr: Everybody knew that except one. The humorous, good natured digs were at that guy, not you.

md11retiree

I had the FedEx benefits + Harvey Watt while working. Since you're young, you might want to consider a $1m term insurance policy with USAA or similiar. Should be able to get a reasonable cost on this type of policy, at least until age 70 when the rates could change. When you finally retire, the FedEx life insurance goes bye bye, so get a term policy now, at a very low fixed premium. Good luck with your FedEx future.

DLax85

I believe this is excellent advice.

For disability insurance, I believe the Harvey Watt policy specifically designed to work with the FDX Long term disability benefits is the best. (I have it). I passed on the versions offered by ALPA --- way too expensive and not needed for a FDX pilot (IMHO).

Re: life insurance -- buy term.

If you are relatively young and in good health, I recommend you purchase a long term, level, term policy covering you until your expected retirement from a top rated private insurer like USAA (...my policy is for $700K until I'm 62)

They may ask you to take a simple physical, but that is a "good thing" because it means they are insuring the healthiest folks at the most competitive rates.

Generally speaking, I think the ALPA rates are less competitive to the FDX rates and those are less competitive then the best private rates.

Reason, the ALPA rates cover any ALPA pilot and therefore need not be as competitive because the guys at the smaller airlines may not be offered the same benefits thru their airlines as pilots at the major airlines.

Also, the FDX rates do NOT require you to take a physical if you sign up when first hired --- meaning they are actually covering folks they may present a bigger risk then those that only cover folks who pass a physical.

When I compared apples to apples, USAA was the cheapest, then FDX, then ALPA.

Additionally, your FDX insurance is contingent upon your employment with FDX. If that should change for some reason, especially later in your career or after your health changes, you may find it difficult to get a competitive replacement policy.

Also, don't confuse the $800K policy FDX now provides with the basic life insurance you should have --- FDX increased tha amount they buy for us from $100K to $800K to replace the Pension Survivor Benefit benefits we use to have if you died before age 55.

Finally, I also purchased the optional FDX Accidental Death & Dismemberment insurance from FDX for employee & family --- $235K in coverage for all 5 family members for just $9.00 a month (...2 Starbucks coffees). It was insurance I really couldn't get elsewhere, and covered an additional risk factor.

Hope this info was helpful --- good luck.

rolling thunder

Dlax85 did you go with the one year or the two year on the LTD?

FreightDawgyDog

"Finally, I also purchased the optional FDX Accidental Death & Dismemberment insurance from FDX for employee & family --- $235K in coverage for all 5 family members for just $9.00 a month (...2 Starbucks coffees). It was insurance I really couldn't get elsewhere, and covered an additional risk factor."

I may be wrong here but I think the employee only is covered at the $235k level. If memory serves your spouse is $25k and kids $10k. Let me know if I am wrong.