Life Insurance for Pilots | The Definitive New Guide for 
Submitting an application for the best life insurance for pilots and receiving a Preferred Best rate classification is very common with today’s relaxed underwriting—especially when applying with the right life insurance company and having an IFR certification. If you are planning on purchasing pilot life insurance, we will cover everything you need to know step-by-step so you can buy the best policy for the lowest possible rates.
Aviation life insurance is one of our specialties, and we know how to help you apply for pilot life insurance and receive the lowest premiums.
Table of Contents
- Can I Purchase Life Insurance if I’m a Pilot?
- Will Being a Pilot Affect My Life Insurance Rates?
- Best Life Insurance for Pilots With Medical Conditions
- What Are the Best Life Insurance Companies for Pilots?
- How Can I Buy Life Insurance for Private Pilots?
- What is a Flat Extra Charge?
- What Are Aviation Exclusion Riders?
- How Can I Buy Life Insurance for Commercial Pilots?
- How Can I Get the Best Rates for Helicopter Pilots?
- Is It Possible to Buy Life insurance for Student Pilots?
- How Can I Find the Best Term Life Insurance for Pilots?
- Should I Get a Medical Pre-Screen Before I Apply?
- Should I Purchase Life Insurance for Pilots From a Broker?
- Can I Apply for Pilot Life Insurance Over the Telephone?
- How Can I Compare Life Insurance Quotes for Pilots?
- In Conclusion
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:
- Private Airplanes
- Commercial Airplanes
- Military Aircraft
- Propeller Driven
A life insurance company will ask additional questions, but remember, your health history is still going to be the most important factor involved. As with all life insurance applications for anyone, regardless of their hazardous sport, hobby, or occupation. Your health will be the most critical category of your application any carrier will review.
Your life insurance rates can sometimes be affected by being a pilot. There is a much greater risk that the 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 either 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.
As far as your health goes, your health classification could go one way or another to any health conditions, and your flying would be impacted by life insurance “flat extra” charges, which we will go into a little later.
Regardless of your occupation, sport, or hobbies, your health history will be ranked number one 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 companies biggest concern. Not simply the fact that you are an aviation pilot. Many pilots are concerned that they have a risky classification and don’t realize their health is even more critical on an application.
These medical conditions will put these medical conditions under the microscope on any application for anybody, not just pilots. You combine some of these medical conditions with flying an airplane several thousand feet in the air. You can have a significant issue for you and your passengers if you suddenly get a heart attack or stroke, just for starters. There are no paramedics, doctors, nurses, or hospitals high in the sky.
As independent insurance agents, we represent well over 40 top-rated life insurance companies. Here is a shortlist of the 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 pilots in the underwriting department, 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:
- Banner Life
- AIG American General
- Lincoln Financial
- Mutual of Omaha
- Prudential Insurance
- Principal Financial
- Protective Life
- SBLI Savings Bank Life Insurance
Keep in mind that there is no particular order in which these companies are being ranked. No life insurance company in the world will be the best life insurance company for pilots. A lot of the actual ranking will reflect your age, tobacco use status, health history, driving record, credit history, and many other pieces of information. Everyone is on a case-to-case basis when applying for aviation life insurance.
Choosing the right life insurance company to apply with is crucial. Using an insurer who does not have a good experience with pilot life insurance could trigger higher rates or a decline in your application.
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.
Here are some of the questions they typically will ask:
- What type of private aircraft do you fly?
- What kind of license do you have?
- Are you an actual licensed private pilot or a student pilot?
- Are you IFR instrument-rated, and what certifications do you have?
- When did you obtain your (PPL) private pilot licensing?
- How many years have you been flying private aircraft?
- How many hours do you approximately fly per month?
- Have you had any FFA violations to date? If so, what were the violations?
- Are you planning on changing aircraft anytime in the next 1-2 years?
- What make and model aircraft are you currently flying?
- What is your type of aircraft class rating?
If you are in good health and your flying credentials are in order. Then, you should not have any problems applying for life insurance for private pilots. Whether you fly a small single-engine airplane to a multiple-engine jet is this.
A flat extra charge is sometimes added for risky occupations or sports. A flat extra cost can usually range between $1.25 to $15.oo per every $1,000 of the face amount, otherwise known as your death benefit. The flat extra fees are added to the base premium of the policy. Here is a simple example using a $5.00 charge as follows:
A male age 30 applies for a $100,000 20 year term policy with a premium of $700.00, for example, purposes. The insurance company approves his application, and since he is a private pilot, the carrier issues the policy with a $5.00 flat extra charge. Now here comes the math behind it:
The $100,000 policy costs $700.00 per year, and the flat extra is $5.00. The cost of the flat extra would be $5.00 times 100 because his face amount is $100,000. The flat extra charge becomes an additional $500.00 for a total of $1200.00 per year.
The flat extra charge can vary depending on the exact risk factor involved. However, the average flat extra for a student pilot is just $2.50 for every one thousand dollars in coverage.
If you plan to purchase life insurance for pilots and have sufficient experience, training, and certifications can eliminate flat extra fees.
There are often no flat extra charges added to the premium at all. Especially if the pilot has sufficient experience and IFR certification, a Preferred Best health class can also be possible.
Some carriers will allow you to exclude the actual flying coverage from the policy. For example, if you feel comfortable applying for life insurance for pilots with an aviation exclusion attached, you can do so. An exclusion will allow you to use and have no reference to flying whatsoever. 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 pilot 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 go for the idea of buying life insurance for pilots with an exclusion rider.
Purchasing life insurance for professional pilots is similar to private pilots but not the same. For example, suppose you pilot passenger airlines for a commercial airlines company. The majority of the life insurance companies will offer you their best rate classes, such as preferred and preferred best if you qualify the medical requirements.
It would help if you also qualified for:
- Your current age is at least 30 years of age or older.
- The absolute minimum of 1,000 total hours.
- Must not have any FAA violations at all.
- A valid and up-to-date medical certificate.
- At least 100 hours of experience in the current make and model airplane you fly.
- Certification either commercial or Airline Transport Pilot ATP Certification
Life insurance coverage is still usually offered if you don’t qualify for each of the above. However, being eligible for the very best rate available may not be possible. Purchasing life insurance for professional pilots is a simple process with today’s more relaxed underwriting.
Applying for life insurance for helicopter pilots is similar to life insurance for airplane pilot life insurance. The information the life insurance companies ask will be as follows:
- Total Pilot in Command hours of helicopter experience.
- Do you have any accidents or violations on your record?
- What type of pilot licenses do you currently have to date?
- Average pilot in command hours annually.
- Total pilot in command hours from last year.
- What kind of helicopter do you fly, including the make and model.
- What is your Federal Aviation Administration certification date?
- Are you planning on changing helicopters in the next year?
As with all types of aircraft flown, either private or commercial, the more experience and training classes and certifications, the better your chances of getting the lowest rates possible.
Student pilots purchase their life insurance the same way an experienced pilot would. The only difference is that the student pilot cannot qualify for preferred rates like the professional and certified pilots. But, as with anything else, this will come in time. As they say, everyone has to start someplace.
Most of the time, the student pilots will receive a “standard” rate classification and will most likely receive a flat extra charge of $2.50 per thousand. At this point, they are considered a high-risk student pilot with little to no flight experience. However, this will change as their flight time behind the controls increases and their training continues.
They will often receive a flat extra charge of $2.50 per every $1,000.00 worth of coverage they apply for. This would add up to $250.00 for a $100,000 policy. It can get expensive if the student pilot applies for a high face amount policy such as a million dollars or more.
A flat extra charge can permanently be removed from the policy later unless, for some reason, the student pilot continues to be considered a high-risk pilot. We usually have the pilot re-apply with another carrier after they exceed 500 hours behind the controls and have more class time hours and certifications under their belt.
Does Life Insurance Cover Flying Lessons?
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 you will have to answer. All Companies have their criteria about life insurance and flying lessons.
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, permanent forms of life insurance. In addition, the term comes typically in term lengths such as 10, 15, 20, 25, 30, 35, and 40 years. As a result, term products always have the best life insurance rates for pilots.
Many people will purchase terms with a more considerable face amount for the most financially costly to cover mortgages, car payments, and college tuition. They can add a much smaller universal life plan design to cover the rest of their life after the term policy expires. Whole life is far too expensive, and many companies have eliminated it from their product line. Here is a list of your primary choices for life insurance:
- Term Life Insurance – Learn more
- Universal Life Insurance – Learn more
- No Exam Life Insurance – learn more
- Return of Premium Life Insurance – learn more
Compare Term Life Insurance Quotes for Pilots on our instant rate comparison system. Review over 40 top-rated insurers side-by-side.
Requesting a medical pre-screen will help your agent choose the right company to fit your specific health history. A pre-screen will also help your agent if you have any hazardous sports, hobbies, or an occupation that will impact your rates too. Pre-screens eliminate any surprises during or right after your application has been submitted. This is a professional and straightforward approach to applying for life insurance regardless of whether this is pilot life insurance or not.
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 interest in mind. A captive agent such as a State Farm representative works for their insurance company and has their insurance companies 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 zero in on these companies to get our clients the lowest possible rates every time. Captive agents are stuck using their only company, usually an auto insurance company that dabbles in life insurance.
We recommend completing the form on the right and running our website quoting system. This will give you an idea of all your options and life insurance rates for your age. This will also help you decide how much of a face amount you can afford to apply for. Our modern application system consists of the industry’s most simple and quick application process.
We use the new high-tech SnapApp application system. This refined 15-minute telephone application will save you time and allow you to explain all your answers to the questions.
If you want to get a head start and compare 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. You can compare over 40 of the most competitive life insurance companies for pilots in less than a minute.
Don’t hesitate to call us with any questions you may have concerning life insurance quotes for pilots. 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. See how easy it is to get preferred rates for private and commercial pilots.
Another good article for you to read is our getting started page. I hope this blog post has helped you learn more about obtaining aviation life insurance. It is straightforward and much easier than you ever thought.
All the best,
If you have any questions about life insurance for pilots, contact us today and let us help you with no cost or obligation. Remember that we are brokers and work for our clients, not for insurance companies. Our job is to help you get approved for the best policy for your needs with the lowest rates possible. You can also set up a specific time to get all your questions answered.