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Life Insurance for Aviators?

usmarinemike

Solidly part of the 42%.
pilot
Contributor
I did a search, and there's nothing before 2008 on the topic. I'm reaching a point in life where SGLI might not be enough, but it seems like anybody who flies a TMS with F,H or A out front gets a bonus double premium each month. Has anybody found a reliable company who will insure you for a less inflated premium?
 

Hozer

Jobu needs a refill!
None
Contributor
Navy Mutual ?
My additional policy I picked up specifically for the 'stan was $25/month for an extra $400k coverage, term for 20 years.
 

e6bflyer

Used to Care
pilot
Agree, Navy Mutual is a good one. Just read the fine print, there used to be some clause about not paying out in a flight training accident, which is pretty bogus if you are a VT or FRS guy. They may have taken that out (the last time I read the policy was over a decade ago).
 

NavyOffRec

Well-Known Member
I will preface this that I am not an aviator nor do I go into combat areas anymore, but when I was looking at extra life insurance I checked out every company, including Navy Mutual, and Allstate beat everyone hands down. I am paying 230 month for 500K of unlimited life and after 30 years I can cash it out, so what that means is big party at my place when that time arrives!
 

BusyBee604

St. Francis/Hugh Hefner Combo!
pilot
Super Moderator
Contributor
Has anybody found a reliable company who will insure you for a less inflated premium?
Try checking out Armed Forces Benefit Ass'n (AFBN) @ www.afba.com and check out their website for policy types/premiums. I've had a decreasing term policy (w/ aviation coverage) there since Moses was a Boy Scout. Was very reasonable rates back then, and was the term insurance favorite of the NAs I knew. Fortunately, my dependents never had to collect, so I can't comment on that part of their services!:eek:
BzB
 

Renegade One

Well-Known Member
None
Try checking out Armed Forces Benefit Ass'n (AFBN) @ www.afba.com and check out their website for policy types/premiums. I've had a decreasing term policy (w/ aviation coverage) there since Moses was a Boy Scout. Was very reasonable rates back then, and was the term insurance favorite of the NAs I knew. Fortunately, my dependents never had to collect, so I can't comment on that part of their services!:eek:
BzB
Concur...was my first choice as well. Think Moses was a Troop Leader by them...
 

webmaster

The Grass is Greener!
pilot
Site Admin
Contributor
I went the NMAA route. No war clause, or payout problems with flight related mishaps.
 

MasterBates

Well-Known Member
NMAA here. Working in a high risk area, they are one of the few that don't care I work in Nigeria, Russia, Azerbaijan and offshore.

Sent from a van down by the river via Tapatalk
 

HuggyU2

Well-Known Member
None
AAFMAA: Army & Air Force Mutual Aid Association.
I was told about this by a Marine Hornet buddy of mine. He said it was the best life insurance he had found, and that he had looked extensively. I bought their insurance about 6 years ago, so I haven't looked around since... but I'm betting it is very competitive.
 

Recovering LSO

Suck Less
pilot
Contributor
NMAA. Pretty straight forward application process, pay about $40 a month for a $1,000,000 20 year term policy. Had flight surgeon do application paperwork. My squadron doesn't start with an A, F, or H - but I also don't recall them asking that. They just wanted to know if I flew jets, with or without ejection seats and whether or not I flew around the ship.
 

phrogdriver

More humble than you would understand
pilot
Super Moderator
Liberty National has covered me for years with no exclusion clauses for war or aviation mishaps.
 

Tycho_Brohe

Well-Known Member
pilot
Contributor
This may be a bit off the topic of insurance providers, but still somewhat related. Is term life insurance usually the norm, or does it depend on one's situation? I've heard that term is usually used to protect against a large obligation like a mortgage, so if you die you're not leaving someone with tons of debt, or to provide for your dependents when you're gone. Since neither of those applies to me at the moment, I've been considering a permanent life insurance policy instead, as NavyOffRec mentioned, which in this case is a bit more like an investment for retirement, while still providing the guaranteed death benefit if needs be.
OTOH, an alternative to that would be to buy term, and just invest the money you would otherwise have paid into a permanent policy, giving you more control over the allocation and type(s) of investments you want to use. If you're a smart investor, you could easily beat the crediting rate offered by a permanent policy, but if not, you might even lose money in the long run. Decisions, decisions.
 

NightVisionPen

In transition
pilot
Permenant and whole life insurance policies are essentially high expense investment options wrapped in insurance paperwork. Life insurance is best done as term and invest the rest of your money elsewhere, such as in index funds with Vanguard.
 
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