Overview
This is probably the most important cover that a trainee pilot can have. A relatively insignificant health problem, which would not stop a desk-based employee working, can result in loss of medical certificate.
There are two types of cover, one offering a lump sum if your Licence is lost permanently and the other offering monthly benefits if your Licence is either suspended temporarily or permanently. You can choose either cover or a combination of the two.
For monthly benefits there is a choice of two benefit periods, 24 or 60 months, depedant on your preference/requirements. Aditionally you can choose when you would like these benefits to commence (ie. how long you have to be unfit before qualifying for payments) by selecting from the following waiting/deferment periods; 90, 180, 365 days or 18 months.
For most trainee pilots a mix of both types of benefit will probably be the best option, using the lump sum cover to pay off training debts and then use the monthly benefits to cover such things as monthly loan repayments or accommodation expenses. Whilst the longest benefit period is 60 months, we believe that this is valuable cover as the amount of benefit is not reduced by any future earnings, and the benefit amount remains constant throughout the period of the claim. Our experience is that these are features of PHI/Income Protection.
You are eligible to take out new cover if you are aged between 18 and under 55 years of age.
On successful completion of training, cover can be converted to a Flying Licence Protection Insurance policy without further medical evidence, although this will be required if you increase the sum insured. After completion of training, the cover can be held for up to 12 months, and is then subject to review, unless you have obtained a job in the meantime.
What do you need to read?
 |
|
|
|
Client Agreement
|
Guide to Trainee Insurance
|
Trainee Pilot Insurance Key Features
|
How much will it cost?
For details on the full range of options please refer to the Premium Schedule below. This sets out the premiums applicable to BALPA members. All rates are pro-rata, so it is easy to calculate the cost for any given sum assured. Online Calculator
| |
Premium Schedule
(exclusive of Insurance Premium Tax) |
How do I apply?
To apply please download and complete copies of the following forms. When complete please return to;
FREEPOST RRKG-RJZG-HSXS,
BALPA Financial Solutions Ltd, BALPA House, 5 Heathrow Boulevard, 278 Bath Road, West Drayton, UB7 0DQ.
|
Proposal Form
|
|
Direct Debit Mandate
|
Once assessed by the underwriters, you will be issued with acceptance terms at which point the policy may be put in force. We will advise when it is ready to start, though you can opt to have the policy start as soon as possible, assuming normal acceptance. If an exclusion applies, we will come back to you, prior to the policy commencing, detailing any endorsement and your cover will not be in force until we advise you that you have been accepted.
What if I need help or advice?
All administration is carried out by BFS and any administration queries should in the first instance be addressed to us on 020 8476 4056. Alternatively please e-mail the administration team at FLP@balpa.org . If you are a BALPA member and would like specific advice please complete and return the following form;
| |
BFS Fact Find
|
Possible supplementary reading?
| |
Policy Wording (specimen)
|
|
Policy Addendum (specimen)
|