Notices

Loss of License

Old 06-14-2019, 10:17 AM
  #1  
Gets Weekends Off
Thread Starter
 
Joined APC: Apr 2016
Position: Looking left
Posts: 3,242
Default Loss of License

I'm shopping around for loss of license insurance and a UPS friend recommend I check out this company in Louisville KY...lots of UPS and SWA guys use them. I reached out and here is the comparison graphic they sent me. If anyone has questions or wants more info let me know and I'll reach out to the POC.
Attached Images
File Type: jpg
Loss of License Compare.jpg (37.8 KB, 898 views)
DWC CAP10 USAF is offline  
Old 06-19-2019, 12:18 PM
  #2  
Banned
 
Joined APC: May 2017
Posts: 2,012
Default

Just FYI Lloyds of London is based in London. It’s not really a company in the usual sense. It’s where people go to ensure weird things like soccer players feet.
ZeroTT is offline  
Old 06-19-2019, 12:59 PM
  #3  
Gets Weekends Off
 
Joined APC: Apr 2018
Posts: 427
Default

Originally Posted by ZeroTT View Post
Just FYI Lloyds of London is based in London. It’s not really a company in the usual sense. It’s where people go to ensure weird things like soccer players feet.
Lloyds once wrote a policy for a business offering an award for whoever caught the Loch Ness Monster. Said company was afraid it might actually exist and wanted to be covered just in case, so they went to Lloyds.

You can really insure anything!
savedbythevnav is offline  
Old 06-19-2019, 10:06 PM
  #4  
Gets Weekends Off
 
Joined APC: Feb 2008
Posts: 19,222
Default

Take a good look at what is already provided in the contract. You may find that you don’t need additional insurance. The provision to continue paying the full DC amount to age 65 made it a easy choice for me.
sailingfun is offline  
Old 06-20-2019, 01:54 AM
  #5  
veut gagner à la loterie
 
forgot to bid's Avatar
 
Joined APC: Apr 2008
Position: Light Chop
Posts: 23,286
Default

Originally Posted by ZeroTT View Post
Just FYI Lloyds of London is based in London. It’s not really a company in the usual sense. It’s where people go to ensure weird things like soccer players feet.
https://www.businessinsider.com/10-o...olicies-2010-3

Or insuring J Lo's butt
forgot to bid is offline  
Old 06-20-2019, 08:50 AM
  #6  
Gets Weekends Off
Thread Starter
 
Joined APC: Apr 2016
Position: Looking left
Posts: 3,242
Default

Originally Posted by sailingfun View Post
Take a good look at what is already provided in the contract. You may find that you don’t need additional insurance. The provision to continue paying the full DC amount to age 65 made it a easy choice for me.
In the case of being out on disability, Is your plan to not touch the DC money until after 65?

I’m aware the company still contributes but I see the LOL insurance as way to maintain the current lifestyle now...young kids have lots of dance / karate / soccer, lacrosse, etc and I want to minimize the thrash to their life in the event I'm out on disability where the 50% LTD pay is basically paying mortgage, utilities, food, gas, etc.
DWC CAP10 USAF is offline  
Old 06-20-2019, 09:06 AM
  #7  
Gets Weekends Off
 
Joined APC: Jun 2015
Posts: 4,116
Default

Do you know the company 401 money goes from 16% to 32% once on ltd?
BobZ is offline  
Old 06-20-2019, 10:06 AM
  #8  
Gets Weekends Off
Thread Starter
 
Joined APC: Apr 2016
Position: Looking left
Posts: 3,242
Default

Originally Posted by BobZ View Post
Do you know the company 401 money goes from 16% to 32% once on ltd?
Does it?

I read PWA 26.C.3.a as they take your disability amount, double it in order to approximate what a regular pilot on a active payroll status would have made, and then the company contributes the 16% as normal.
DWC CAP10 USAF is offline  
Old 06-20-2019, 10:12 AM
  #9  
Gets Weekends Off
Thread Starter
 
Joined APC: Apr 2016
Position: Looking left
Posts: 3,242
Default PWA 26.C.3.b Question

It mentions “...less income from employment that exceeds the calculated disability amount...”

Does that include military pension?

I wouldn’t think it would but wondering if anyone knows for sure.
DWC CAP10 USAF is offline  
Old 06-20-2019, 10:16 AM
  #10  
Gets Weekends Off
 
Joined APC: Jun 2015
Posts: 4,116
Default

Ok...so they double the ltd basis and pay 16%.

Tohmato-tahmato.

Mil pension dznt offset. Pbgc dz. W2 income not exceeding ltd dznt

I think ssi may
BobZ is offline  
Related Topics
Thread
Thread Starter
Forum
Replies
Last Post
TiredSoul
Pilot Health
4
03-29-2018 02:47 AM
Sir James
Major
0
03-19-2005 12:46 PM

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Thread Tools
Search this Thread
Your Privacy Choices