Life Insurance for Helicopter Pilots
Mr D, a 50-year-old man and his wife have recently been approved for their new interest-only mortgage. Mr D felt it was important to take out the right level of protection so that in the event of either Mr or Mrs’s deaths, the surviving spouse could pay off the mortgage.
The mortgage has a loan outstanding of £250,000 over a remaining term of 10 years.
His occupation – Air Ambulance helicopter pilot
Mr D is a helicopter pilot for the Air Ambulance service and has held both a commercial and a military license since 1992. He also has over 4000 hours of flying experience. However, due to the perceived increased risk of policyholders taking part in any form of aviation activity, many providers were concerned.
Our process and advice
Each insurance provider has their own underwriting guide and we contacted them all to find the best solution. There were a few providers that wanted to add an additional amount of between £63 and £84 to the monthly premium. Which would make the overall monthly premium approximately £151. There were a couple of providers however, that would not do this and saw his lengthy experience as a helicopter pilot a positive impact on the risk.
Mr and Mrs D were very pleased with our research and accepted the offer of a level term life or earlier terminal illness policy with an initial sum assured of £250,000 over a term of 10 years for a monthly premium of £67.44.
Please note that the premiums provided are indicative only and are based on this specific case study/ example, which is shown for information purposes only. Your own circumstances will determine whether the amount payable is more or less than the figure quoted.
Client ID: 137737780
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