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Life Insurance, Critical Illness Cover and Income Protection for Helicopter Pilots
Example Occupations: Police helicopter pilot, Medical helicopter pilot, Commercial helicopter pilot, Offshore helicopter pilot
Possible Risks: Environmental factors, equipment malfunction, heights
Occupational Duties: Flying cargo or people to specified locations
Life Insurance for helicopter pilots may be available at normal terms if you are based within the UK and use an insurer who offers good underwriting terms for your occupation as a pilot. If you work as a helicopter pilot for an offshore company then the insurer may want you to detail the locations that you travel to as part of your work.
The insurer will be particularly interested if you pilot any experimental or test helicopters as part of your job. If your occupation requires you to fly prototype helicopters it is possible that any offer of Life Insurance that will be available to you will be at non-standard terms.
If you are a reservist in the Armed Forces this may impact upon the terms of Life Insurance available to you and you should discuss this with your insurance advisor.
If you are a member of the Armed Forces please visit our dedicated page here.
Critical Illness Cover
Critical Illness Cover for helicopter pilots may be available at standard terms, depending upon your individual circumstances . The insurer that you approach for Critical Illness Cover will review your application on an individual basis.
Depending upon where you fly and how much airtime that you log, the insurer may offer Critical Illness Cover with an occupation exclusion. An occupational exclusion means that you will be unable to place a claim for any critical illness that you suffer as part of your working duties. It is worthwhile noting that many conditions covered by a Critical Illness Contract are not something that could be caused by your occupation e.g. Multiple Sclerosis, cancer, etc. So whilst an occupational exclusion may not sound ideal, it certainly does not outweigh the benefit that this type of cover can provide.
Income Protection for helicopter pilots may be available with a few insurers but you will need to place your application with an insurer who can even consider the cover at all. The insurance provider you approach will want to know if you fly within the UK or abroad, how much annual air time you perform and whether you have had any periods of time off work in the past. You should aim to secure an Income Protection policy on an ‘Own Occupation’ definition. This will mean that should you be unable to work the insurer will assess your claim based upon your ability to work as a helicopter pilot. Other definitions of Income Protection will assess your ability to perform any like job or any job at all, making the definition for incapacity to work much broader.
Income Protection policies come with a deferment period in which you must wait before you are able to place a claim for incapacity to work. You will need to choose between deferment periods of 1 day, 1 week, 4 weeks, 8 weeks, 13 weeks, 26 weeks or 52 weeks. When making this decision you should consider any accident and sickness benefits you receive from your employer, savings that you have in place and your overall budget for the policy. Our financial advisers regularly help clients to determine which of these Income Protection options is best for your individual circumstances.
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