Pilot disability insurance, also known as pilot income protection insurance protects pilots who are unable to work due to a disability. This insurance gives the pilot income during the time they can’t work.
Requirements for Pilot Insurance
Pilots must meet the medical certificate requirements established by the Federal Aviation Administration in order to maintain their license. If they are unable to meet the minimum health requirements or have become disabled, their medical certificate may be suspended. During this suspension period, pilots are unable to work and may be left without a source of income. Loss of license insurance protects pilots in such situations by providing monthly benefit amounts so that the pilot can maintain his/her living conditions.
Pilots disability insurance covers professional pilots including commercial, corporate, cargo, agricultural, and stunt pilots, among others. This insurance is available to both individuals and groups. It covers temporary and permanent loss of pilot licenses, providing monthly or lump sum benefits depending on the situation.
Whether or not a pilot can continue working is up to their employers' licensing authority. A pilot may have his/her medical certificate suspended without much notice. This is why it's so important for pilots to have disability insurance.
The Benefits of Pilot Disability Insurance
- Income protection. As stated, a pilot's license may be revoked swiftly and without much notice. Unfortunately, rent, mortgage payments and childcare bills will keep on coming. Income protection allows the pilot to maintain a portion of his or her income.
- Career-ending benefit. If the pilot's disability prevents them from piloting permanently, loss of license insurance may offer a final benefit to compensate for the loss of future income.