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Disability Insurance for Pilots
Is It Possible To Obtain Coverage As A Pilot?
by Thomas Lloyd

Disability Insurance for PilotsAny person that pilots an airplane for either commercial or personal use has options to apply for disability insurance coverage on an individual basis. As with most forms of coverage, there are a variety of factors that each carrier considers and not all will offer the same terms of insurance for someone who flies an airplane. It is always recommended to discuss whatever current options available with an insurance advisor that specializes in providing clients with individual disability insurance protection. Here are some of the most commonly asked questions to address for someone that is interested in coverage.

1. I’m a student pilot who flies for recreational purposes - can I get coverage?

Any person who is in the process of obtaining their pilots certification for personal use will be able to obtain disability insurance coverage but will receive an exclusion for flying. This exclusion may be removed upon the insurance carriers’ discretion.

2. I’m a newly certified recreational pilot - how many hours do I need to accrue before I can get coverage while flying?

Each insurance company has different requirements for removal of a flying exclusion or new issuance on a disability insurance policy. Some carriers will simply require proof of the person’s certified pilot license while others may also need to see a certain number of solo flying hours completed. Typically, that number tends to be around 250 solo hours.

3. Does the type of aircraft used matter?

Generally speaking, no. There will be no difference if a person pilots a Cessna, Mooney, or Gulf-stream for recreational use. Insurance carriers may have issues with microlight aircraft or other similar models that may pose a higher level of risk. Check with your insurance advisor for the latest developments.

4. What if I fly commercially and or get paid to fly?

Anyone who receives payment for piloting services will find it very difficult to find individual disability insurance coverage. Lloyd’s of London is the most popular choice for professionals looking for their own coverage. Check with your insurance advisor for the latest developments.

5. I’m a commercial pilot - can I get own occupation coverage?

According to Mark Peterson, a partner at Peterson International Underwriters (cover holder of Lloyd’s of London), many commercial pilots want to ensure they have own occupation disability insurance protection beyond their company’s group LTD plan of 2 years. Lloyd’s of London actually offers a plan that would extend protection beyond those 2 years with a own occupation definition of disability.

Registered Representative of Park Avenue Securities LLC (PAS), 1355 Piccard Drive, Rockville, MD 20850 Securities products and services offered through PAS, 1-888-513-2300
Thomas Lloyd – Field Representative, The Guardian Life Insurance Company of America (Guardian), New York, NY. PAS is an indirect, wholly owned subsidiary of Guardian.
Financial Balance Group is not an affiliate or subsidiary of PAS or Guardian.
PAS is a member FINRA, SIPC.

the views and opinions expressed herein are solely that of the author and do not necessarily represent the views and opinions of The Guardian Life Insurance Company of America or its subsidiaries or affiliates thereof.
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