Life Insurance Dilema

"Joe" wrote in message
oups.com...
I am in the process of trying to buy life insurance for the first time
and I was wondering if anyone had any advice for me. I am sure many of
you have gone through this already.

Here are the details:
I finished my private license last novemeber. I have flown a little
since, but only every 1-2 months.
I requested a quote from Zander (which is basically a broker that
represents many companies). On my original request, I said I was a
pilot. They wrote me back and requested a few more pieces of
information related to my flying like total hours, ratings, hours per
year, etc.

For a $1M, 10-year term policy, with my particulars, with aviation
coverage, they quoted $295 /year BUT, until I had 100 solo hours and
had an annual rate of 25 hours a year, there would be an additional
charge of $2900 annually. Yikes. I can probably swing the 25 hours a
year without too much effort, but I currently only have 20 hours of
solo time. So, it is going to cost me something like $6,000 to amass
that sort of time. Although I would love to go do that next month, my
finances don't allow that at the moment.

So, my question is, has anyone else been in this dilema before? Does
anyone reading this have limited flying experience like I do but have
gotten a better deal elsewhere? Are there other companies I should look
into?

I would really appreciate any advice. At this point I think I am going
to have to give up flying for a few years until I can actually afford
it. And that has got me kind of depressed.

Thanks,
Joe in Denver


I've been checking into this myself lately, as I'm about to start flight
training, and have been told by the insurance company (talking in Australia
here) that a private aircraft, fixed wing, flying up to 100hours a year is
no worries. Over that, and premiums get loaded, or certain activities start
getting excluded.
Crash Lander

"Jeff" jfranks1971 minus wrote in message
...
I don't get all the posts in here for some reason so I apologize if this is
a duplicate....

but I have a $1M/30 yr term policy from the Pilots Insurance Co.
(www.piclife.com). Costs me
$86/mo.

jf

Out of curiosity how old were you when the policy was created?

Probably no more than my back country skiing in Maine. Check the
provisions of the so-called "avaiation friendly" policies with one you can
get if you are not a GA pilot.

Joe wrote:
I am in the process of trying to buy life insurance for the first time
and I was wondering if anyone had any advice for me. I am sure many of
you have gone through this already.
snip

Why do you need life insurance?

I have some just because my company provides it, and they don't care
that I'm a pilot. It even states that I'm covered while instructing.

Out of curiosity how old were you when the policy was created?

I was 32 when I got the original setup.

I just had it requoted this year (I'm 36 now) and it was $92/month. and I
THINK that was 30 yr.(it was at least 20).

jf

Oh. I meant to add that the original price was for me with 0 hours and a
student pilot.

Once you get 200+ hours, the rates start going down....great company to work
with too!

jf

Out of curiosity how old were you when the policy was created?

I was 32 when I got the original setup.

I just had it requoted this year (I'm 36 now) and it was $92/month. and I
THINK that was 30 yr.(it was at least 20).

jf

Emily wrote:

Why do you need life insurance?

Do you have children? Are you the only income provider for your children?

--
Peter