Life Insurance Cost

[Dickey]

I have applied for life insurance and was quoted by Liberty Life. My premium was loaded x2 since I am a microlight pilot. I want to challange Liberty, my thinking is that it is far more dangerous on the road than in a aircraft. To prove me right or wrong I need some stats.
The amount of microlight aircraft registered (trikes) in SA and amount of fatal accidents per year and compair that to amount of motorcycles registered in SA agains fatal accidents per year and the same regarding vehicle's.
Any idea were one would get this? [/b]

[Thunderboy]

You could try CAA for microlights and Road accident fund for the motorbikes or Arrive Alive campaign

Let us know if you get anything will be intresting to see

[The Agent]

Maybe you should try "LIFE" it will pay out better.

I have had no problems, but then again I'm still here.
My broker said I am defnitely covered.

[Nkwazi]

I read in one of the african skies ( I think an article by Mike Blyth) that microlighting is statistically 7 times more dangerous than driving. If that is the case, be happy with your 2 x loading. Take the premium and cover your life - you dont want to leave loved ones destitute

[Big-D]

Get life insurance qoutes from other companies (PS Disability insurance just as important) . I have no loading on my premiums and my cover is substantial.

Have to agre with Nkwasi - Don't be blind to the (managable) risks associated with flying - That article by Mike Blythe opened my eyes too.

Without mentioning names try this for size - Your problem is aviation related, talk to an aviation broker

D

[Thunderboy]

I read in one of the african skies ( I think an article by Mike Blyth) that microlighting is statistically 7 times more dangerous than driving.

Not a nice thought

[Tailspin]

I have a speceific insurance for the flying. If i die while flying then only that one pays out - but i have two more which do not cover the flying and then if i die from a non aviation related accident then all 3 pay out. The loadings got to high cos i do not fly enough hours to not get loaded per year, but that will change very soon.

[Nick]

my thinking is that it is far more dangerous on the road than in a aircraft. To prove me right or wrong I need some stats.
The amount of microlight aircraft registered (trikes) in SA and amount of fatal accidents per year and compair that to amount of motorcycles registered in SA agains fatal accidents per year and the same regarding vehicle's.
Any idea were one would get this? :evil:[/b]

I don't think so, not compared to roads. I was on a 4x4 forum, with a similar membership, nobody got killed. Definitely not so here; this anecdote, with some other gen, was enough to put me off MPL as an unacceptable risk, and go straight for PPL.

You might have a point vis a vis motorcycles.

[ChickenHawk]

I have forwarded the below mentioned 2 remarks to the Life Insurance Industry.

1. “I have applied for life insurance and was quoted by Liberty Life. My premium was loaded x2 since I am a microlight pilot.”

2. “Could the Aeroclub, or similar, not collectively approach a life insurer to cover instructors and test pilots per student / test flight? I'm sure most instructors only train part time or handfull of students per year, so to apply for each policy per student for e.g. 10 hours patter per student and have that cover built into the training rates is possible? As that student qualifies/ test flight completed, the policy is automatically dissolved?”

My motivation to them was as follows:

Aangesien (Insurance Co edited out) hierdie inkomstemark teiken, sal hulle nie belangstel om ook die voorkeur verskaffer te wees vir
hierdie elite sporttipe nie? ‘n Vliegtuigeienaar is gewoonlik van die higher income market (besigeienaars wat hulle geld probeer versteek vir die taksman, hee-hee ….), hulle gesondheid is uitstekend (onderhewig aan ‘n streng omvattende vlieg mediese ondersoek en vliegtoets elke 3 jaar om lisensie te behou) en is baie verantwoordelik (oor algemeen nie drinkers of rokers nie), dus is hulle algemene gesondheidsrisiko en sterftesyfer baie gunstiger en dus laer as die algemene “kiepies” op straat.

Die struikelblok is om die persepsie van gevaar m.b.t. vliegrisiko’s te verander, want dit is ‘n oordrewe persepsie. Die “Arrive Alive Campaign” is ‘n bewys van waar die werklike gevare lê.

I will keep you posted as soon as I have received a reply.

:D

[Thunderboy]

Chickenhawk, Misaasa have got a benefit that is quite reasonable that they worked out - covers you to a max of R500k

[Tumbleweed]

I think the Misasa only covers 3rd party - your liability to damages you cause to others/ property.

[Thunderboy]

No they also have a personal accident cover



http://www.misasa.co.za/Classifieds/16/5.php

From as little as R 3,17 per month Aircrew Financial Services (Pty) Ltd is offering all MISASA members Accidental Death cover of up to R250 000. Option 1 R5000 death cover as a result of an aviation accident will be made available to all members for only R3.17 per month Option 2 Members will be entitled to upgrade their cover both in terms of amount as well as the definition of the cover. This product will cover members for death as a result of any accident (aviation or other). Members may purchase between R50 000 and R250 000 cover in units of R50000. The member’s spouse can also be covered. Option 3 Members may purchase cover of up to R500 000 as a result of death from any cause provided with very little underwriting involved. SEE AIRCREW FINANCIAL SERVICES (PTY) LTD WEBSITE AT: http://www.aircrew.co.za/misasa.htm Electronic Contact Details: Tel: +27 11 467 4140 Fax: +27 11 467 4578 Email: info@aircrew.co.za Website: www.aircrew.co.za Physical Address: AIRCREW FINANCIAL SERVICES (PTY) LTD 1st Floor, Kingfisher Office Park 39 Kingfisher Dr. Fourways Postal Address: AIRCREW FINANCIAL SERVICES (PTY) LTD PO Box 131264 Bryanston 2074