Skywest v2.0
01-14-2017 | 04:32 AM
#5251
On Reserve
Joined: Dec 2015
Posts: 20
Likes: 0
Please do enlighten me on how I could not take an early retirement if I take this insurance (and of course adequate coverage) and lose my medical for one of the qualifying events (no drunk driving accident, etc).
That is the purpose of this insurance. That's why it extends to age 65.
That is the purpose of this insurance. That's why it extends to age 65.
01-14-2017 | 04:48 AM
#5253
Gets Weekends Off
Joined: Jun 2016
Posts: 443
Likes: 0
When you say things that don't make any sense I hope you except someone to call you out on it. I wasn't hostile. I'm simply asking you to explain.
01-14-2017 | 09:48 AM
#5256
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,913
Likes: 695
From: Engines Turn or People Swim
01-14-2017 | 11:43 AM
#5257
Gets Weekends Off
Joined: Mar 2016
Posts: 1,111
Likes: 0
I signed up for the insurance. Just got the $32,850 plan so it's only like $45 a month. I've jump seated with a few captains that really want it so hopefully we get the 25% participation for anyone that is really concerned.
01-14-2017 | 11:46 AM
#5258
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,913
Likes: 695
From: Engines Turn or People Swim
Anyone who is feeling kindhearted towards their fellow pilots can sign up at this level and get fully reimbursed by the company for three months. Then cancel if you don't want it, I'm 99% sure the 25% requirement is just to implement the policy initially, we don't have to maintain that level of participation in the future.
01-14-2017 | 12:23 PM
#5259
Gets Weekends Off
Joined: Jun 2016
Posts: 443
Likes: 0
Anyone who is feeling kindhearted towards their fellow pilots can sign up at this level and get fully reimbursed by the company for three months. Then cancel if you don't want it, I'm 99% sure the 25% requirement is just to implement the policy initially, we don't have to maintain that level of participation in the future.
01-14-2017 | 12:43 PM
#5260
Prime Minister/Moderator
Joined: Jan 2006
Posts: 44,913
Likes: 695
From: Engines Turn or People Swim
The people who should sign up for the LOM:
-Older CA's.
-FO's who think they might end up staying at SKW, because it will likely be very difficult to sign up outside open enrollment.
People who probably don't need it:
Younger FO's and CA's who can and will switch careers to something that pays better than regional airlines if they medical out.
If you're younger and want to sign up, you probably need to over-insure to account for inflation over the years if your plan would be to retire immediately and ride this benefit for decades if you can't hold a medical. That's the real gotcha with this plan, the value of the benefit (and cost to the underwriter) tapers off pretty significantly after 15-20 years due to inflation.
-Older CA's.
-FO's who think they might end up staying at SKW, because it will likely be very difficult to sign up outside open enrollment.
People who probably don't need it:
Younger FO's and CA's who can and will switch careers to something that pays better than regional airlines if they medical out.
If you're younger and want to sign up, you probably need to over-insure to account for inflation over the years if your plan would be to retire immediately and ride this benefit for decades if you can't hold a medical. That's the real gotcha with this plan, the value of the benefit (and cost to the underwriter) tapers off pretty significantly after 15-20 years due to inflation.
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