ALPA and/or Company life insurance
04-16-2016, 07:47 PM
#21
Gets Weekends Off
Joined APC: Jun 2007
Position: 767/757 CA
Posts: 2,699
+1 on company LTD. Reasonable price for what you have the potential to collect. I would actually like to see the max benefit be increased.
I also went to an outside agent for Term Life Insurance. Only precaution is to make certain that you are covered while flying. Well over 50% do not cover you or only will waive this if requested. My agent is very knowledgeable about this and makes certain that you are covered (in writing). These policies can be found for about the same price as ones that don't cover pilots operating the airplane.
Also most policies that exclude crew members operating the airplane, would cover you if you jumped out of it. Makes little sense to me.
I also went to an outside agent for Term Life Insurance. Only precaution is to make certain that you are covered while flying. Well over 50% do not cover you or only will waive this if requested. My agent is very knowledgeable about this and makes certain that you are covered (in writing). These policies can be found for about the same price as ones that don't cover pilots operating the airplane.
Also most policies that exclude crew members operating the airplane, would cover you if you jumped out of it. Makes little sense to me.
04-17-2016, 02:18 PM
#22
Gets Weekends Off
Joined APC: Oct 2012
Position: 737
Posts: 1,061
So it sounds like most people don't use the ALPA insurance beyond the probationary year? My probationary year is going to be up soon so I've been wondering about this. I'm definitely keeping the company LTD, but I don't think I have any use for any of the other ones. No spouse or kids so no real need for any life insurance either.
04-17-2016, 03:24 PM
#23
Line Holder
Joined APC: Aug 2011
Posts: 73
Company life insurance is cheap when you're young, expensive as you age. Plus if you're fired or furloughed all bets are off. I have most of mine through a company I found (Banner) through selectquote.com. 20 year term, rates won't change if I'm fired or have a heart attack.
There's LTD (long-term disability) through the company which kicks in after 90 days and pays you until retirement if you can't hold a medical. Opt in when you're hired and don't ever let it lapse- it can be almost impossible to get back in.
This is different than the ALPA loss of license, which I don't have.
There's LTD (long-term disability) through the company which kicks in after 90 days and pays you until retirement if you can't hold a medical. Opt in when you're hired and don't ever let it lapse- it can be almost impossible to get back in.
This is different than the ALPA loss of license, which I don't have.
Do the company LTD and ALPA insurances work well in conjunction, or is having both of them redundant?
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