Protect Yourself From Loss of Licence
This might not be something you want to think about, but what happens if you lose your licence? Will you be able to preserve your way of life if you need to choose a different career, or even worse, if you can not work at all?
It is for this reason that different types of licence insurance are in place. Your commercial flight crew licence is only valid in combination with a valid class 1 medical. Hence, if you fail your medical you automatically lose your flight crew licence.
How Will Loss of Licence Help in This Case?
Pilots’ Loss of License Insurance provides financial support should your aviation career end abruptly; it provides stability while you retrain for a new career.
Generally, the insurer pays out a fixed amount or sometimes you receive monthly payments. The size of the amount will depend on the age you are when you lose your licence. A different option is that you choose beforehand the exact amount when you take the insurance. Clearly, the amount of money you have covered in the insurance determines your monthly or yearly premium.
Who Needs Pilot Loss of License Insurance?
Pilot Loss of License insurance can provide essential peace-of-mind for any pilot. From commercial pilots, helicopter pilots, test pilots, operators of charter flights, and even agricultural pilots, any type of aviation or airline company that is actively engaged in the business of flying should be considering Pilot Loss of License as part of their employees’ benefits package.
Loss of license insurance can be a key tool in any airline’s competition for securing the top talent by ensuring that financial support is available should the pilot lose their license due to a medical or other issue.
Comprehensive Insurance Coverage
An illness or injury could occur at any point in your aviation career, so it is important you have financial protection when you need it most. Getting comprehensive insurance coverage, however, has typically been tough for many pilots. One reason for this is due to the fact that many casualty insurers have avoided covering pilots and other individuals who work in the aviation industry because of the many risks that are faced by these workers as a routine part of their job.
We are committed to assisting our pilots during these difficult times, that’s why Brookfield Aviation has partnerships with different insurance brokers to offer you access to a high-quality product that can be tailored to fit your needs. Thus, if you are a pilot, a pilot’s union, or an airline, and you’re considering taking out a new Pilot Loss of License insurance plan, or if you’re simply looking to compare your existing policy against alternative market offerings, please contact email@example.com