I have some questions. How many flight hours are flown by all airlines combined each year? On average, how many fatal accidents are there per year (less than 1, I'm guessing)? How many active airline pilots are there in the country?

Even if you flew 1000 hours per year every year, your odds of getting into a fatal accident are extremely small. Your odds of doing something negligent in that accident are even smaller.

It never hurts to plan, but some of you seem downright paranoid!

I have a lot of things in "Irrevocable Trusts"

No one plans to be in an accident, that is why it is an accident. It also serves the same purpose to insulate your family if you are in an auto accident. It gets very complicated on how this works, so just go consult with an attorney.
I can tel you some say you are paranoid, whereas I say it is just being smart. Do not leave you family with a mess if you can avoid it. That is my mantra.

During my years at Delta, the company made the pilots "agents of the company". This means the company took full responsibility for pilot`s actions and the pilots were not liable for any legal action, the company was. Now, after the bankruptcy, things may have been changed. Someone needs to look into this. Many other airlines did the same thing. Putting assets an your wife`s name is another way to protect assets. She`s gonna get them in a divorce anyway.

I did this a long time before I was here.

Great point. I heard that if you fly on a jet airplane 24 hours a day for your entire career statistically you will not have an engine failure. What happens more often, fatal crashes or engine failures?

Nothing wrong with being prepared, seems like you guys are jumping through hoops for something that statistically will never happen.

IMO additional medical coverage is a much better investment. How many pilots are forced to retire early because of medical issues? Lots more than those who are fatally killed on the job.

Talking about statistics, driving to work is the most dangerous thing you can do. But I know this group would never talk on a cell phone while driving.

To each their own.

If you have a family, additional disability insurance is a good idea. Most airline disability plans pay 50% which could mean a change in lifestyle w/out extended disability.

Would keep the little lady happy, or less unhappy, in some cases. :D

For the record, virtually all "umbrella" policies will not cover work-related accidents. I looked into this with State Farm and it would not cover any incidents while doing my job as an airline pilot.

As stated above, should you be unfortunate enough to be involved in an accident (or incident) while flying your airliner, an LLC will most likely NOT protect any of your assets from good attorneys. If it can be demonstrated that the LLC was set up solely (or primarily) just to attempt to legally shield assets and not in conjuction with a viable business for tax purposes, it will be picked apart. This actually might cost even MORE in legal fees.

Sorry, but as it stands now, most of us are screwed (even those that think they aren't). In the future, it might be best for all airline pilots to 25 year old kids, living at home with mom and dad and having no assets other then a corvette they're making payments on.

Those of us with homes, retirement accounts and families have picked a risky career in these greedy litigeous times. You'll have to treat EVERY flight like everything you've worked for is one the line.....................................because IT IS !