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AOPA life insurance
Has anyone purchased the term life from aopa?
I was wondering how well or satisfied anyone is with them. I've checked out regular insurance and they charge the heck out of you for being a pilot. lou |
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AOPA life insurance
"Lou" wrote in message ... Has anyone purchased the term life from aopa? I was wondering how well or satisfied anyone is with them. I've checked out regular insurance and they charge the heck out of you for being a pilot. There is no free lunch. Wherever you buy life insurance, the cost of your aviating will be priced in (if aviation is covered in the policy). Some companies will conveniently hide the cost rather than listing it separately, but it will be in there. I am in the process of pricing term coverage from AOPA's carrier and a couple others since I am retiring and losing the coverage from my employer. The process won't be over until they all literally get a taste of my blood, but so far these folks http://www.piclife.com/ have been very helpful and seem to have the best preliminary rates. They will all want some very detailed information on your licensing, hours, past accident history, and planned aviation activity. Vaughn |
#3
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AOPA life insurance
On Jun 10, 6:42 pm, "Vaughn Simon"
wrote: "Lou" wrote in message ... Has anyone purchased the term life from aopa? I was wondering how well or satisfied anyone is with them. I've checked out regular insurance and they charge the heck out of you for being a pilot. There is no free lunch. Wherever you buy life insurance, the cost of your aviating will be priced in (if aviation is covered in the policy). Some companies will conveniently hide the cost rather than listing it separately, but it will be in there. I am in the process of pricing term coverage from AOPA's carrier and a couple others since I am retiring and losing the coverage from my employer. Well, I'm not looking for a free lunch but the preliminary quotes seem to be half of state farm and allstate and I'm wondering why. Lou |
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AOPA life insurance
On Jun 10, 5:18*pm, Lou wrote:
Well, I'm not looking for a free lunch but the preliminary quotes seem to be half of state farm and allstate and I'm wondering why. AOPA doesn't sell insurance but they use Minesotta life. I applied with them. As always the original quote was lower than the final once they run your numbers (and I'm still young, nonsmoker, etc). You don't necessarily ever pay more for being a private pilot (with any life insurance). What they do is put you in one of usually 5 buckets. Lots of factors affect which bucket you are in but flying can affect it. However, flying (on its own) has never affected my life insurance quotes. Perhaps if you are on the edge it could However, if you want to be covered while flying commercially, CFIing, or flying with CAP you will have to pay an extra premium. -Robert |
#5
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AOPA life insurance
"Lou" wrote in message ... Well, I'm not looking for a free lunch but the preliminary quotes seem to be half of state farm and allstate and I'm wondering why. I don't have a clue, but the world is like that. Insurance is just like any other purchase, it pays to shop. Get at least three quotes, (which will take three complete applications, three physical exams, and 6 to 8 weeks). The "teaser" rate that they give you after a quick screening application means little. They won't like it, and will ask you why you are applying at other companies, but it is your privilege, and doing so is just good business. Vaughn |
#6
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AOPA life insurance
Lou wrote:
Has anyone purchased the term life from aopa? I was wondering how well or satisfied anyone is with them. I've checked out regular insurance and they charge the heck out of you for being a pilot. lou Check with PIC (http://www.piclife.com/) I have had a term policy with them for 10 years. Now, I cannot claim that I have exercised the policy, thank goodness. But, they sell to pilots and it was very reasonable. -- Regards, Ross C-172F 180HP KSWI |
#7
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AOPA life insurance
On Jun 11, 3:11*am, "Vaughn Simon"
wrote: * * Get at least three quotes, (which will take three complete applications, three physical exams, and 6 to 8 weeks). *The "teaser" rate that they give you after a quick screening application means little. *They won't like it, and will ask you why you are applying at other companies, but it is your privilege, and doing so is *just good business. Yea, one of the standard questions is if you've applied for life insurance in the previous 12 months. You also have to do the full physical before you will get a real (non-teaser) rate. Luckily most companies don't charge for the lab work. I found out about my cholesteral when I applied for AOPA life insurance (and later decided to go with USAA instead). If you really want to shop for life insurance as an informed consumer you need to educate yourself on 3 types of life insurance.... 1) Term life 2) Universal life 3) Whole life All 3 are very different; have different rates; and have different benefits. In almost all cases your lowest rate today will be with your employer (as a group policy) but in 10 years you may regret that decision. -Robert |
#8
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AOPA life insurance
On Jun 11, 11:46 am, "Robert M. Gary" wrote:
On Jun 11, 3:11 am, "Vaughn Simon" wrote: Get at least three quotes, (which will take three complete applications, three physical exams, and 6 to 8 weeks). The "teaser" rate that they give you after a quick screening application means little. They won't like it, and will ask you why you are applying at other companies, but it is your privilege, and doing so is just good business. Yea, one of the standard questions is if you've applied for life insurance in the previous 12 months. You also have to do the full physical before you will get a real (non-teaser) rate. Luckily most companies don't charge for the lab work. I found out about my cholesteral when I applied for AOPA life insurance (and later decided to go with USAA instead). If you really want to shop for life insurance as an informed consumer you need to educate yourself on 3 types of life insurance.... 1) Term life 2) Universal life 3) Whole life All 3 are very different; have different rates; and have different benefits. In almost all cases your lowest rate today will be with your employer (as a group policy) but in 10 years you may regret that decision. -Robert I'm looking at the AOPA for 2 reasons, 1. I am self employed 2. It was my understanding that instead of a physical, they use your current medical info. Is this not the case? lou |
#9
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AOPA life insurance
Vaughn Simon schrieb:
There is no free lunch. Wherever you buy life insurance, the cost of your aviating will be priced in (if aviation is covered in the policy). I have piloting included but I only had to pay a premium during my time as a student pilot. Maybe you should look abroad? #m |
#10
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AOPA life insurance
On Jun 11, 9:58*am, Lou wrote:
I'm looking at the AOPA for 2 reasons, 1. I am self employed 2. It was my understanding that instead of a physical, they use your current medical info. Is this not the case? Nope, they sent a nurse out and they did the whole works. There may be a dollar limit at which point they do the physical. Really the people running the insurance have no idea you are associated with AOPA or what AOPA is. This is really just an AOPA referal to Minnesota life. I think AOPA gets a referal fee so it helps AOPA. In fact when I filed out the form they were confused about the pilot questions (they clearly do not deal with a lot of pilots). -Robert |
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