Corporate and commercial pilots have always struggled to obtain adequate insurance. The majority of insurance companies have previously advised pilots that they are “uninsurable” because there are too many risks that could result in their losing their medical certificate. Many health concerns that would allow employees in the traditional workplace to continue working could cost a pilot his or her license due to strict medical qualifications.
While most traditional insurance companies have effectively abandoned this sector, Petersen International Underwriters has created a loss of license insurance plan that will cover pilots if they lose their medical certificate and are unable to fly.
Corporate aviation is a booming industry. Many corporate aviation companies want to attract the top pilots, but in most cases are unable to provide adequate insurance, or offer none at all. Now you can prescribe a solution by providing insurance coverage to your pilot clients through West Coast Global Insurance Services.
Take The Case Of…
California is ablaze annually with numerous major wildfires. The television news can look like an adventure movie: tanker planes and water-dropping helicopters swooping across the TV screen making daring water drops. Brave and heroic men and women who are risking personal injury and possible loss of life in fighting the fierce and raging fires. Tragically, this is not an adventure movie; it is real.
Fortunately for some of the pilots, crew members, and firefighters professionals, they had the protection to secure their loss.
In addition to corporate pilots, we can also insure helicopter pilots, charter operators, firefighting pilots, commercial pilots, agricultural aviators, stunt pilots and test pilots. Pilot Loss of License coverage is available on an individual basis as well as on a guaranteed issue basis for groups.
Why Purchase Loss of License Insurance?
A loss of license insurance policy is one of the most crucial parts of a sound financial plan. A loss of license plan makes it possible for a suspended pilot to pay his or her mortgage and utility bills, buy clothing and cover school costs for his or her children, as well put food on the table every day. Cash flow is critical when you’re unable to work for an extended period of time; the Petersen International Underwriter’s Pilot Loss of License Plan will allow grounded pilots to maintain their standards of living.
- Loss of license based on your employer’s Licensing Authority
- Pilot Loss of License Insurance provides exceptional benefits at affordable rates
- Provides monthly payments to keep your world intact until your medical certificate is reinstated
- If you are grounded as a result of an insured sickness or injury, benefits may pay up to 60 months
- Monthly benefit amounts from $500 to $25,000 per month
- Lump-Sum for permanent loss of license.
FAQ's
Toggle titleWhat is Loss of License Protection, and why is it crucial for pilots and aviation professionals?
Loss of License Protection is a specialized insurance that provides crucial coverage for pilots and aviation professionals. It ensures financial security in the event they lose their medical certificate, rendering them unable to fly. Many traditional insurers may consider pilots “uninsurable” due to the unique risks associated with their profession. This insurance, offered by providers like Petersen International Underwriters, addresses this gap by providing coverage to pilots facing the risk of losing their license.
What does Loss of License Protection typically cover, and who can benefit from this insurance?
Loss of License Protection typically covers the financial impact of losing a pilot’s license. It provides benefits that can cover essential expenses, including mortgage payments, utilities, clothing, and education costs for their children. This insurance is designed to ensure that pilots and aviation professionals can maintain their standards of living during an extended period of inability to work due to license suspension. It is available for various aviation roles, including corporate pilots, charter operators, firefighting pilots, and more.
How can I obtain Loss of License Protection, and what are the key features of this insurance?
Loss of License Protection can be obtained through insurance providers like West Coast Global Insurance Services. Key features of this insurance include:
- Monthly Payments: It provides monthly benefits to maintain financial stability until the pilot’s medical certificate is reinstated.
- Duration: In case of insured sickness or injury, benefits may be payable for up to 60 months.
- Customized Coverage: Policies offer a range of monthly benefit amounts, from $500 to $25,000 per month.
- Permanent Loss: In the event of permanent loss of license, a lump-sum payment may be provided.
Pilots and aviation professionals can rely on Loss of License Protection to safeguard their financial well-being during challenging times and ensure they can continue supporting themselves and their families.
