Life Insurance Dilema

Northwestern Mutual.

I have several policies with them for much larger amounts than you are
searching for. My first was after my private with no increased premium.
Second and third policies were after my commercial and CFI, again, no
increased premium. The agent is the key. Make sure your agent has your
interests in mind and not his wallet. Make your agent consult with his
superiors, do not take his word. Make him do his work.

Ask him how the policy treats current activities i.e.: when the policy is
purchased VS future activities. You may find that a short flying hiatus
will put you into the "non pilot" or "no current intention to continue"
category and that you can resume flying at some point after the policy is
purchased with no effects to your coverage or premiums.

Jim

You may find that a short flying hiatus
will put you into the "non pilot" or "no current intention to continue"
category and that you can resume flying at some point after the policy is
purchased with no effects to your coverage or premiums.

Would that not be likely to be challenged once you actually =need= the
policy? It would be obvious in retrospect the scam you were (allegedly)
pulling.

Jose
--
The monkey turns the crank and thinks he's making the music.
for Email, make the obvious change in the address.

Good question and one that I asked more than once. The explanations that I
received from several Northwestern reps were that the policy is written at a
specific point in time for a person meeting specific requirements. If I
meet the requirements of the policy when the policy is written and I meet
the requirements of the policy when I die they will pay out as long as I
haven't violated any other conditions of the policy. There are conditions
that I must report to the company if they develop or I partake in them, such
as skydiving, but resumption of flying was not one.

My case was that I had quit flying for 8 years between my private/instrument
and my commercial. I already had one policy and it was a big concern to me
when I bought my second policy. I was assured by not only the agent, his
supervisor, and the companies legal office that if I had noted that I had no
intention at that time of resuming my flying activities but then later
changed my mind and started flying again it would have no effect on the
coverage or the premium. Since then I have also reported my hours and
ratings when purchasing additional policies, there have been no increased
premiums due to any of my additional ratings or certificates.

YMMV
Jim

if I had noted that I had no
intention at that time of resuming my flying activities but then later
changed my mind

It's the "intension" part that may hang you. If you did have intention
of flying, but did not dicslose that when asked, you could be guilty of
fraud. Resuming flying shortly after getting the policy (after stopping
shortly before) with no other reason in evidence, may be seen as
evidence that you did intend to resume flying, and lied about it.

Jose
--
The monkey turns the crank and thinks he's making the music.
for Email, make the obvious change in the address.