Life insurance companies are very interested in your job. When you apply for coverage, it’s their mission to determine how much risk that you are for insurance coverage. Depending on your job, they might view you as a high-risk applicant. If that’s the case, then you can expect to pay a drastically higher rate for your life insurance coverage. There are hundreds of jobs that could put you in the “high-risk” category, and one of those is being a helicopter pilot.
If you’re a pilot of any kind, you can expect to pay more for your insurance protection, but that doesn’t mean that you have to pay a fortune for your insurance coverage every month. There are a couple of ways that you can secure lower rates and keep more money in your pockets.
This article is going to look at the different options for life insurance and ways that you can get cheaper rates. Making a few changes could save you thousands of dollars every year. Life insurance is one of the most important investments that you’ll ever make for your loved ones. It’s one of the few ways that you can ensure that your family has the money that they need, even if something tragic were to happen to you.
Questions about Flying
When you apply for life insurance, the company is going to ask you dozens and dozens of questions about your job and your flying. It’s important that you know exactly what’s going to be expected of you before you apply for coverage.
They are going to ask you various questions about your PIC (Pilot in Command) hours. How many you have on average each year, how many you had last year, and what type of license that you have. They will also ask you the type of helicopter that you fly, your FAA certification date, any additional certifications that you have, and if you’ve ever had any violations. All of these factors are going to play a huge role in how much you pay every month for your insurance coverage.
DON’T Go with an Online Life Insurance Company or No Exam Policy
If you’re a helicopter pilot, it’s important that you work with a real, live agent when you’re shopping for insurance coverage. Because you’ll be considered a high-risk applicant, you need someone that’s going to ask the right questions and will be able to present your application in a favorable light to the underwriters.
If you purchase a life insurance policy online or use an automated form, the insurance company is not going to get the additional information that they need to offer you the lowest rates. Instead, you’re going to get higher rates because they are going add a “flat extra,” which is higher premiums for every $1,000 of coverage. Some companies are going to add a $5 flat charge for every $1,000 of coverage. Depending on the size of your policy, it could add up to thousands of dollars every year.
Getting Cheaper Life Insurance
Your job and hobbies are not the only things that the insurance company is going to review when determining your monthly premiums. They are going to look at your health, tobacco usage, and any pre-existing conditions that you have. There are several ways that you can secure lower rates from the company and keep some extra cash in your wallet every month.
The first thing that you should do is cut out cigarettes or chewing tobacco. If you’re a tobacco user, you should expect to get much higher rates. In fact, smokers are going to pay twice as much for life insurance versus what they would pay if they didn’t smoke. Kicking that bad habit can save you thousands of dollars every year on your protection.
Another way to save money is to improve your overall health. When you apply for coverage, the company is going to require a medical exam, and the results of the medical exam are going to play a major role in how much you pay every month. Improving your health through a diet and exercise. Both of these will help you lose weight, lower your cholesterol and much more. Losing weight can help you cut your premiums by 50% or more.
Working with an Independent Insurance Agent
Every insurance company is different, and all of them are going to look at your application differently, which means that you’re going to get wildly varying rates depending on the company that you choose. Some companies have more experience working with helicopter pilots than other companies, and those companies are going to give you lower premiums compared to what other companies are going to give you. Finding the perfect company is the difference between getting a cheap life insurance policy or one that’s sky high.
There are hundreds of companies on the market, and all of them are going to offer you different rates. Instead of wasting hours and hours calling different companies, let one of our independent insurance agents do all of that hard work for you. Unlike traditional insurance agents, our independent insurance brokers work with dozens and dozens of highly rated companies across the nation.
Working with one of our agents can save you both time and money on your life insurance search. We know which companies are going to give you the best rates. You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the insurance protection that your family deserves.
It’s our mission to ensure that you’re getting the best rates possible. If you have any questions about life insurance for pilots or the options available to you, please contact us today. We would love to answer those questions and ensure that you’re getting the best rates possible.
I made this video about getting life insurance as a helicopter pilots. As you can see from the video, you can avoid high fees and save money.
Transcript: Life Insurance for Helicopter Pilots
Are you a helicopter pilot? Well, if you’ve been looking for life insurance quotes as a helicopter pilot, I can help save you money, coming up in this video.
So if you’re a helicopter pilot and you’ve gotten quotes for life insurance quotes, you’re probably getting a lot of people quoting you something called the flat extra, which is a very high additional fee that you would pay for the added risk of being a helicopter pilot. Sometimes $5.00 per $1,000 worth of coverage. It can really add up to thousands of dollars a year as an additional fee for the risk.
Well, the good news is that, depending on how many hours you’ve flown, your experience, whether or not you’ve had violations, if you haven’t had violations and you have a good amount of hours flown and experience, then you can possibly get a rate without paying that flat extra fee. You can possibly get standard or preferred rates. We’ve seen cases where people were able to get a preferred rate, even as a helicopter pilot, without paying these flat extra fees.
I recently had somebody come to me who got quoted thousands of dollars for a quote. We were able to quote them a policy at $88 a month, when they were quoted like $1,000. That was because of all those additional fees, and this was for a very large policy, about a million dollar policy.
So if you’re a helicopter pilot, visit our website, ChooseTerm.com. If you’re on YouTube, click the link below, or compare quotes right on the site. We can help you get the best rates possible as a helicopter pilot.
Thank you, and I look forward to speaking with you.