Loss-Of-License Insurance Advice...
11-12-2014, 10:04 AM
#1
Gets Weekends Off
Thread Starter
Joined APC: May 2014
Posts: 1,681
Loss-Of-License Insurance Advice...
Looking for opinions on LOL insurance. Specifically Harvey Watt vs the APA policies.
I'd like to find a policy which covers loss of license without any complications. I want to find one which would pay if I couldn't hold a first class medical, and I want to avoid any scammy insurance which depends on the social security "can't hold ANY job" definition.
Any experiences?
I'd like to find a policy which covers loss of license without any complications. I want to find one which would pay if I couldn't hold a first class medical, and I want to avoid any scammy insurance which depends on the social security "can't hold ANY job" definition.
Any experiences?
11-12-2014, 11:29 AM
#2
Gets Weekends Off
Joined APC: Oct 2010
Posts: 4,603
Where do you work? Are you in negotiations now? I've only found crap policies in the open market. The good ones I've heard of and been a part of have always been included in a CBA. If you are in negotiations tell your committee that it's should be their priority. The rest of the contract doesn't mean anything if you can't get a medical. Scope and ltd should be number one priorities.
01-19-2015, 08:38 AM
#4
On Reserve
Joined APC: Jan 2015
Position: 757
Posts: 14
Originally Posted by jcountry
Looking for opinions on LOL insurance. Specifically Harvey Watt vs the APA policies.
I'd like to find a policy which covers loss of license without any complications. I want to find one which would pay if I couldn't hold a first class medical, and I want to avoid any scammy insurance which depends on the social security "can't hold ANY job" definition.
Any experiences?
I'd like to find a policy which covers loss of license without any complications. I want to find one which would pay if I couldn't hold a first class medical, and I want to avoid any scammy insurance which depends on the social security "can't hold ANY job" definition.
Any experiences?
I was told he just introduced a similar policy for American, Delta, FedEx, Southwest and United. I checked out the link and it looks like there are more options with flexible premiums than the UPS pilot one:
https://app.piu.org/piu7/Pilot
01-23-2015, 07:19 AM
#5
On Reserve
Joined APC: Jan 2015
Position: 757
Posts: 14
Originally Posted by bedrock
Any long term disability pay may be cut by the amount you receive from L o L.
These private, individual policies stack on top of our group policy through Sun Life to augment income cash flow.
Always read the "Other income benefits" of your group policy through the company or union to see if there is an offset. Some sources of additional income do offset, some do not.
It is imperative that you understand your benefit package to make intelligent decisions. Don't listen to the chaff that you read from too many post that try to make blanket statements.
01-23-2015, 07:48 AM
#6
Gets Weekends Off
Joined APC: Dec 2011
Posts: 146
Originally Posted by bedrock
Any long term disability pay may be cut by the amount you receive from L o L.
01-23-2015, 08:08 AM
#7
On Reserve
Joined APC: Jan 2015
Position: 757
Posts: 14
Originally Posted by NormalAbnormal
When I lost my medical, it was pointed out to me that the LTD policy my company had had a specific rider in it that it wouldn't pay if you were only disabled from flying and could still hold another job. Something to watch out for. YMMV.
https://www.youtube.com/watch?v=7CSY...ature=youtu.be
Some group LTD policies may have an income threshold that if you exceed will start the offset of benefits. Again know the details of your specific policy. In the case of our Sun Life policy it is called "progressive partial disability" and the threshold is fairly high.
And this is what Lloyd's of London is introducing to the pilots at American, Delta, FedEx, Southwest and United.
https://app.piu.org/piu7/Pilot
He told me he had been working with Lloyd's of London for several months to roll this out after they had opened it for enrollment last year for the UPS pilots.
Last edited by freighteight; 01-23-2015 at 08:19 AM. Reason: Addition
01-25-2015, 09:15 AM
#9
New Hire
Joined APC: Apr 2010
Position: A300 Captain
Posts: 1
I use the insurance supplement through Lloyd's of London: https://app.piu.org/piu7/Pilot . I think this is just what is needed to provide a layer of protection over our Association's (IPA) plan that will ensure I don't lose income. Check it out as it's a product created by a pilot (through Lloyd's of London) who has been through this wringer and has valuable lessons out of it all. Additionally, I'm hearing it is opening up to other carriers. For what it's worth, folks. Definitely worth your attention.
01-25-2015, 09:43 AM
#10
On Reserve
Joined APC: Jun 2006
Position: 757/767 FO
Posts: 17
Lloyds' policy is a great addition
Jcountry
The Lloyd's of London policy negotiated by Wyatt Stedman is an excellent policy with generous terms to augment any LOL policy and in some cases can make a bad situation much better....
The IPA pilot group has the opportunity to take advantage of this policy now in a enrollment period and other Major airline pilot groups can join in as a individuals. Each group SWAPA, APA, ALPA can look at their LTD benefits and see this fills a gap in coverage should you lose your med certificate.
I did for 7 months last year and will most definitely be signing up for this policy as cost effective insurance against another unknown issue.
Take a good look at the details and reach out to Aggie for the nuts and bolts of the policy.
Good luck
BJD
The Lloyd's of London policy negotiated by Wyatt Stedman is an excellent policy with generous terms to augment any LOL policy and in some cases can make a bad situation much better....
The IPA pilot group has the opportunity to take advantage of this policy now in a enrollment period and other Major airline pilot groups can join in as a individuals. Each group SWAPA, APA, ALPA can look at their LTD benefits and see this fills a gap in coverage should you lose your med certificate.
I did for 7 months last year and will most definitely be signing up for this policy as cost effective insurance against another unknown issue.
Take a good look at the details and reach out to Aggie for the nuts and bolts of the policy.
Good luck
BJD
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