Thanks for the great info posted so far. I just looked at the rates for the optional FDX life insurance and had not realized that the rates almost double when you turn 55. I am thinking about starting to look into getting a term policy now in my late 40s and locking the lows rates.

 

Don't forget that you have a pension survivor benefit that starts when you turn either 55 or 60 (I don't have my copy of the Pilot Benfit Book with me to check on the age). Your spouse gets 50% of your current pension amount should you die while an active crewmember. If your only purpose for life insurance is income protection for your spouse, you can start reducing the amount of company life insurance you need when the pension benefit starts. A $5,000 a month pension benefit would replace several hundred thousand dollars of life insurance.

 

JetJock: Remember the name at Lincoln? I too got the same illustration. Tried to say no riders and I don't want any cash value. Went in one ear and out the other. The lady you talked to would be helpful.

 

A4, I passed both of the names of the two women I have been dealing with via a PM, because I didn't want to post them here.

Here's something interesting that I learned the other day. If you go back to my initial post on this subject, in the 6th paragraph, you'll notice that I had a friend who is in the business, working on my behalf, with Lincoln, to pear down some of the features of the "standard" conversion policy that Lincoln has, for years, been offering retiring FedEx pilots. The reason was that their conversion policy was just too damn expensive the way it was presented, with options that I didn't need, nor wanted to pay for. Because of my friend, Lincoln, thru the two ladies I got in contact with, will now, for the first time, be offering these reduced-cost policies, with fewer options that most of us wouldn't want anyway, such as their guarantee of coverage to AGE 121.

Hopefully, Lincoln will also train their full team, so that when another FedEx pilot asks for the conversion, the Lincoln staff member will be well versed in all available options.

JJ