If aviation insurance news has been mostly bad since September 11, there is still one small bright spot in the industry. Life insurance premiums for corporate pilots have either remained stagnant or actually decreased since last September. And aviation operators have an increasing variety of choices for providing life insurance for their employees. Industry sources suggest that companies and individual pilots who have not reviewed their life-insurance policies within the past five years should do so now to take advantage of the lower rates.
Obtaining life insurance while working as a pilot can be frustrating at least and downright infuriating at worst. Many insurance companies tack on additional premiums called flat extras for pilot applicants without consideration to type or use of aircraft, and force them to fill out long questionnaires about their aviation activities. Some insurance companies will provide life insurance while the pilot is at work in the air and exclude leisure flying from the policy. Other insurance companies will reject pilot applications altogether.
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