New to all this - need some advice and answers

"Rom" wrote in message
ups.com...
OK, this is going to be a rather long post since I have quite a few
question and they are all over the bloody map here. I know most of you
have gone through this sometime and while I do expect I'm not
necessarily going to hear what I want, I'll definitely hear mostly what
I need..
snip
Also, did anyone have issues with their life-insurance? I believe mine
can be cancelled if I do "extreme" sports (flying is listed here, as is
parachuting)... Funny thing is that this is done regardless of whether
I die flying (or practicing these sports) or not. So, on that side, is
there a pilot-friendly or pilot group insurance available to pilots?


- SOME life insurance companies charge higher rates (or refuse) to insure
pilots.
- Some insurance companies ASK it you are a pilot (or are in training), some
do not care.
- Some insurance companies do(or can) NOT raise rates for EXISTING policy
holders who take up piloting during the term of a policy. They may (or not,
at their option) raise the rates on additional coverage purchased after your
initial policy.
- You MAY be advised to purchase all or most of your expected life insurance
needs BEFORE you begin pilot training.
- YMMV
- Talk to several agents and brokers and do NOT falsify any applications.

If you want to know the cost of owning, check out the cost of renting.
Owning is seldom less expensive than renting, so consider the rent
figure to be a floor. The more hours you fly a plane the less per hour
it costs. Maintenace is hard to predict.

If you are just starting out, you are way better off to rent than own.
It is complicated enough to rent and learn without having to deal with
all the hassles of ownership too.

Good advise... I rented for 3 years before buying and learned a lot in
the process.

Now I know 2 things for sure.... Renting is far cheaper than owning....
Owning is far more satifying than renting... YMMV

Jon Kraus
'79 Mooney 201
4443H @ UMP


Doug wrote:
If you want to know the cost of owning, check out the cost of renting.
Owning is seldom less expensive than renting, so consider the rent
figure to be a floor. The more hours you fly a plane the less per hour
it costs. Maintenace is hard to predict.

If you are just starting out, you are way better off to rent than own.
It is complicated enough to rent and learn without having to deal with
all the hassles of ownership too.

"Private" wrote in message
news:4xQwg.222796$Mn5.91929@pd7tw3no...

"Rom" wrote in message
ups.com...
OK, this is going to be a rather long post since I have quite a few
question and they are all over the bloody map here. I know most of you
have gone through this sometime and while I do expect I'm not
necessarily going to hear what I want, I'll definitely hear mostly what
I need..
snip
Also, did anyone have issues with their life-insurance? I believe mine
can be cancelled if I do "extreme" sports (flying is listed here, as is
parachuting)... Funny thing is that this is done regardless of whether
I die flying (or practicing these sports) or not. So, on that side, is
there a pilot-friendly or pilot group insurance available to pilots?


- SOME life insurance companies charge higher rates (or refuse) to insure
pilots.
- Some insurance companies ASK it you are a pilot (or are in training),
some do not care.
- Some insurance companies do(or can) NOT raise rates for EXISTING policy
holders who take up piloting during the term of a policy. They may (or
not, at their option) raise the rates on additional coverage purchased
after your initial policy.
- You MAY be advised to purchase all or most of your expected life
insurance needs BEFORE you begin pilot training.
- YMMV
- Talk to several agents and brokers and do NOT falsify any applications.


My life insurance company had no restrictions or increased prices. They did
want to know however. New York Life.

Al G