Private Pilots and Purchashing Life Insurance

As previously discussed, underwriting is where the insurance company decides your rating class when you purchase a life insurance policy. And as all insurance companies are not created equal, neither are all applicants. Some individuals partake in high risk activities. Underwriting guidelines for hazardous sports may change you rate class. For example, a person who skydives has a higher mortality risk than someone who stays on the ground! The two most popular “hazardous sports” are private aviation and scuba diving.

When it comes to private aviation, life insurance carriers generally pay attention to the total number of hours an individual has flown along with hours flown per year and whether or not the pilot has an instrument flight rating. Some companies will add a flat extra for private pilots. (A flat extra is an additional charge per $1000 of insurance purchased on top of the regular cost. It can be charged for a number of years or for the entire term of the policy.) Some carriers look more favorably on private pilots and do not charge extra. Your independent will know which carriers are better for private pilots.