How to Purchase Life Insurance for Pilots in 2024

Life Insurance for Pilots: A Step-by-Step Guide to Securing the Lowest Rates in [2024]

 Are you a pilot looking for quality life insurance coverage? We fully understand the unique needs of aviators such as yourself and are here to help you find the best rates on life insurance policies specifically tailored for you.

Our agency has partnered with over 40 of the most competitive carriers to provide you with a wide range of options.

We can guide you through the process by ensuring you receive personalized quotes that fit your needs and budget.

Whether you are a commercial airline pilot, a private pilot, or a student pilot, we can provide you with the most cost effective solution to protect your family. 

Our life insurance policies provide comprehensive coverage, including accidental death benefits and disability protection, giving you and your loved ones peace of mind.

Applying for pilot life insurance is quick and easy and we will assist you in finding the appropriate coverage at no cost or obligations.

 

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Protective Life is among the carriers we highly suggest, known for issuing policies without additional fees and providing preferred best rates for healthy applicants.

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Can I Purchase Life Insurance if I’m a Pilot?

Yes, pilots, in many cases, can even receive Super Preferred rates. 

Yes, you can purchase life insurance for pilots as long as you have the necessary training, experience, and proper licensing for whatever type of aircraft you fly, such as:

1. Private Aircraft
2. Commercial Aircraft
3. Helicopters
4. Paragliders
5. Military Aircraft
6. Propeller Driven
7. Jet-Powered

Life insurance companies will ask additional questions, but remember, your health history will still be an essential factor. As with all life insurance applications for anyone, regardless of their hazardous sport, hobby, or occupation. Your health will be the most critical category for your application that any carrier will review.

If you are healthy, you can compare life insurance quotes for pilots and select “preferred” in the health class drop down menu on our quoting system. Purchasing private pilot life insurance is a snap these days when compared to years past.

 

How Does Being a Pilot Affect Life Insurance Rates?

With sufficient experience and IFR certification, most pilots will experience no increase in premiums.

Your life insurance rates can sometimes be affected by being a private pilot, commercial pilot or even a student pilot. There is a much greater risk that life insurance companies are taking on when they consider insuring the life of a pilot, regardless of whether you are a private pilot or a commercial pilot.

The two biggest questions are what you fly and how much you fly, just for starters. This could mean you fly a single-engine Piper Cub twice a month for fun and recreation, or you fly a US Air Force F-16 fighter in the military, possibly seven days a week. Term life insurance for pilots is very affordable and you can buy it for as long as you need it.

 

Can Aviators With Pre-existing Health Conditions Obtain Life Insurance?

Regardless of your occupation, sport, or hobbies, your health history is the most important factor when applying for life insurance. Medical conditions such as high blood pressure, high cholesterol, asthma, being overweight, and many other issues will be a life insurance company’s biggest concern.

It’s not simply the fact that you are an aviator. Many flyers are concerned that they have a risky health classification and don’t realize their health is even more critical on an application.

If you have medical conditions, they have to be taken seriously by an insurance company. When a pilot becomes ill and is flying an airplane, he can’t lie down and take it easy until he feels better like most people can. He has to be at his best while flying, or a crash will become a deadly possibility.

 

What Are the Best Life Insurance Companies for Pilots?

As independent insurance agents, we represent over 40 top-rated life insurance companies. Here is a shortlist of companies that work out very well for pilots and have some of the most competitive rates in the industry.

These insurers are also very liberal towards flying into the underwriting department, which is precisely how you land the lowest premiums.

Take a look at what we believe to be the top 10 companies to consider for life insurance for pilots:

Protective Life does not add flat extra fees like many companies do, plus they have some of the lowest rates for private and commercial pilot life insurance.

1. Protective Life
2. AIG American General
3. Lincoln Financial
4. Mutual of Omaha
5. Prudential Insurance
6. Principal Financial
7. Banner Life
8. SBLI Savings Bank Life Insurance
9. Transamerica
10. Symetra

Keep in mind that there is no particular order in which these companies are ranked. No specific life insurance company will be a pilot’s best life insurance company.

Many of the rankings will reflect your age, tobacco use status, health history, driving record, credit history, and many other areas of information. Everyone is on a case-to-case basis when applying for aviation life insurance.

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The importance of selecting the right carrier for your application cannot be overstated. A non-pilot-friendly insurer for your life insurance may result in increased premiums.

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What Are the Affordable Life Insurance Options for a Private Pilot?

Anytime someone applies for life insurance when involved with a risky sport, hobby, or occupation. The carriers will request that they complete an additional aviation questionnaire, especially if it concerns a private pilot.

During the application process, insurers inquire about the following details:

1. What type of private aircraft do you fly? 
2. What kind of license do you have?
3. Are you an actual licensed private pilot or a student pilot?
4. Are you IFR instrument-rated, and what certifications do you have?
5. When did you obtain your (PPL) private pilot licensing?
6. How many years have you been flying private aircraft?
7. How many hours do you fly approximately per month?
8. Have you had any FFA violations to date? If so, what were the violations?
9. Are you planning on changing aircraft anytime in the next 1-2 years?
10.What make and model aircraft are you currently flying?
11. What is your type of aircraft class rating?

If you are in good health and your flight credentials are in order. Then, you should not have problems applying for private pilot life insurance. Whether you fly a small single-engine airplane to a multiple-engine jet, the concept will be the same.

 

What Is a Flat Extra Fee?

Flat extra fees are what pilots commonly pay when they don’t apply with the correct life insurance company. 

A flat extra charge is normally added for risky occupations or sports. A flat extra fee can commonly range between $1.00 to $7.50 per every $1,000 of the face amount, otherwise known as your death benefit. Flat extra fees are added to the base premium of the policy. 

We work with companies such as Protective Life that do not add flat extra fees to their life insurance policies for pilots. 

 

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Experienced aviators holding IFR certification are often exempt from paying any extra flat charges on top of the premium, and may be eligible for a Preferred Best Health Class.

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What Do Exclusion Riders Signify When Added to a Policy?

Some carriers will give you the option to allow you to exclude actual flight coverage from the policy. If you feel comfortable applying for life insurance with an aviation exclusion attached, you can do so. An exclusion will allow you to purchase a policy without any reference to flying.

With this exclusion, there will be no coverage for a fatal crash. Not all companies offer these aviation exclusions. Some pilots want to purchase life insurance and are not worried about the possibility of a fatal crash. Having an exclusion will eliminate the possibility of any additional cost in the policy for being a private or a commercial pilot, for that matter.

You have to consider this before you sit down and apply it carefully. Suppose you are purchasing life insurance to settle the demands of a divorce court. Most judges will never approve of buying a policy with any exclusion riders.

 

Can Commercial Pilots Secure Life Insurance With Preferred Rates?

A healthy commercial pilot who fulfills underwriting requirements can secure preferred rates.

Applying for commercial airline pilot life insurance for professionals is similar to private pilots. For example, suppose you fly passenger airlines for a commercial airline company. Most life insurance companies will offer you their best rate classes, such as preferred and preferred, if you qualify for the medical requirements.

It would also help if:

1. Your current age is at least 30 years of age or older. 
2. You have over 1,000 hours of flying time.
3. You do not have any FAA violations.
4. You have a valid and up-to-date medical certificate.
5. Have at least 100 hours of experience in the current make and model of the airplane you fly.
6. Do you hold a certification, either commercial or Airline Transport Pilot ATP Certification?

Life insurance coverage is usually offered if you don’t qualify for the above. However, being eligible for the best rate available may be impossible. With today’s more relaxed underwriting, purchasing commercial pilot life insurance for airline pilots is simple. 

Obtaining Life Insurance for Helicopter Pilots

Applying for the best life insurance for helicopter pilots is similar to applying for life insurance for airplane pilots. The information the life insurance companies are asking for will be as follows:

1. Total Pilot in Command hours of helicopter experience.
2. Do you have any accidents or violations on your record?
3. What type of pilot licenses do you currently have to date?
4. Average pilot in command hours annually.
5. Total pilot in command hours from last year.
6. What kind of helicopter do you fly, including the make and model?
7. What is your Federal Aviation Administration certification date?
8. Are you planning on changing helicopters next year?

As with all types of aircraft flown, private or commercial, the more experience and training classes and certifications, the better your chances of getting the lowest rates possible.

Applying for helicopter pilot life insurance is also a smooth process with much more relaxed underwriting than in years past.

 

Is It Possible to Get Life Insurance for Student Pilots?

Contrary to popular belief, student pilots don’t pose as great a risk, given that they usually fly with a skilled aviation professional.

Students purchase their life insurance the same way an experienced pilot would. The only difference is that the student pilot cannot always qualify for preferred rates like professional and certified flyers. But, as with anything else, this will come in time. As they say, everyone has to start someplace.

With “most life insurance companies,” student pilots will receive a “standard” rate classification and will most likely receive a flat extra charge of $2.50 per thousand unless you are applying with Protective Life, which will not inflict a flat extra fee on student pilot life insurance.

This does not hold when using our favorite company for aviators, Protective Life. 

We have partnered with some of the highest-rated companies that do not add flat extra charges to student pilots. This allows student pilots to purchase a life insurance policy at very affordable rates.

 

Does Life Insurance Cover Flying Lessons?

Life insurance will cover a pilot’s flying lessons. When taking flying lessons, you fly with a certified instructor, eliminating high-risk factors. If you currently have life insurance coverage in the form of an individual or group policy.

The life insurance you currently have will cover your demise if you have a fatal plane crash while taking flying lessons.

If you are planning on purchasing a life policy in the future, there will be questions on the application about flying that you will have to answer. All companies have their criteria for life insurance and flying lessons.

 

Is Term Life Insurance for Pilots a Good Option?

You will have several plan designs to choose from when you apply for coverage. However, term life insurance for pilots will be the most cost-effective product. Term products cost far less than the other choices, such as universal life or whole life and permanent life insurance.

Terms typically come in 10 – 40 years. As a result, term products always have the best pilot life insurance rates.Many people will purchase terms with considerable face amounts for the most financially costly to cover mortgages, car payments, and college tuition.

They can add a much smaller universal life plan designed to cover the rest of their lives after the term policy expires. Whole life is far too expensive, and many companies have eliminated it from their product line. 

 

How to Secure the Lowest Rates for Term Life Insurance in 2024!

 

Should I Request a Medical Assessment Before I Apply?

We only recommend a simple health assessment if necessary for our applicants who have medical conditions that could impact the cost of their life insurance.

Requesting a simple 5 minute health assessment will help us choose the right company to fit your specific health history. Pre-screening will also help us if you have any hazardous sports, hobbies, or an occupation that will impact your rates also.

Health assessments eliminate any surprises after your application has been submitted to the underwriting department.

This is a professional and straightforward approach to applying for life insurance, regardless of what type of a pilot you are.

 

Is It Advantageous to Buy Life Insurance From an Independent Agent?

An Independent Insurance Agent is also known as a Broker and has the advantage of working with all the top-rated carriers.

Purchasing life insurance for pilots will require an independent insurance agent. An independent agent does not work for an insurance company. They have your best interests in mind. Independent agents use companies that specialize in aviation.

A captive agent, such as a State Farm representative, works for their insurance company and has their insurance company’s best interest in mind.

An independent agent is also known as a broker, and they usually represent all the top-rated life insurance companies in the nation. Having access to all these companies allows the brokers to custom-fit the most applicable carriers to the applicant.

We focus on these companies to get our clients the lowest possible rates at any time. Captive agents are stuck using their only company, usually an auto insurance company that dabbles in life insurance. 

 

Can I Obtain a Policy Through a Telephone Application? 

We recommend completing the form on the right and running our website quoting system. This will give you an idea of your options and life insurance rates for your age.

This will also help you decide how much of a face amount you can apply for. Our modern application system consists of simple and quick telephone applications. 

We are using a new high-tech SnapApp application system. This refined 15-minute telephone application will save you time and allow you to explain your answers to the questions. 

 

How to Compare Life Insurance Quotes for Pilots?

If you want to get a head start and compare term life insurance quotes for pilots, activate our instant quoting system on our website. If you are in good health and an experienced pilot, use preferred in the health classification drop-down menu.

Make sure to choose the correct gender; female rates are about 15% lower than male rates. Compare over 40 of the most competitive life insurance companies in less than a minute.

 

Our Final Thoughts

There is no cost or obligation when working with an experienced independent agent. You may contact us seven days a week to answer all your questions.

You will find that getting preferred rates for pilots is simple if you are in good health.

Hopefully, this blog post has helped you learn more about obtaining the best life insurance for pilots. The application process is simple, streamlined and much easier to complete than you ever thought.

All the best,
Jack Venturi

*Should you have any questions or need further assistance, please don’t hesitate to call us at 815-390-7545 for an immediate response.