Loss of License

Janod · Post by **Janod** » Sat May 27, 2006 7:44 am

Wondering if anybody can give me some info on a 'Loss of License' Insurance in Canada. Can't seem to recall knowing anybody in Canada who has/had this type of insurance... is it possible that no company offers it? I'm flying in Germany at the moment, and by the sounds of it a good majority of pilots have some sort of insurance over here. Depending on age, it runs about 100 - 300 Euros per month (100 Euros in your 20's, and so on). Not cheap, but if you ever lose your medical for whatever reason, you're guaranteed (depending on how your premiums) 2500+ Euros net.

Anybody know anything to this effect in Canada?

co-joe · Post by **co-joe** » Sat May 27, 2006 9:16 am

You might be able to get it as part of the Accidental Death and Dismemberment clause in your life insurance policy. Some companies have something along this lines. It usually says that they will pay for your re-education and training in a different area.

co-joe · Post by **co-joe** » Sat May 27, 2006 9:16 am

Knock knock knock on wood to ever needing it...

Janod · Post by **Janod** » Sat May 27, 2006 10:54 am

Hey, thanks for the info co-joe. No kidding about ever needing it... didn't actually plan to get it up to this point, but a pilot with our company just lost his license because his heart-muscles somehow got infected and caused an irregular heartbeat. EGT's out of limit... medical gone at least for the next 6 months, but apparently quite a few people lose it permanently do to this condition. The guy's 42, has two kids and just built a house. Imagine...

flynbutcher · Post by **flynbutcher** » Sat May 27, 2006 12:36 pm

It would certinly suck to lose your licence, but we are fortunate enough to be required to get medicals done every year(6 mos) as part of staying current. Imagine how many pilots out there would never have known anything at all about their medical condition if it weren't for our medicals and ECGs. But I did hear about a certain insurance here in Canada that will pay $250,000 for loss of med, heard the initial medical is very strict though (harder than the standard med). Unfortunatly I don't know the name of the company. Someone out here knows

xsbank · Post by **xsbank** » Sat May 27, 2006 1:09 pm

I have disability insurance with my co. and it is worded "...payable if you are unable to perform the duties you were hired to perform..." ipso facto loss of license - pays 80% of your salary for 2 years then 60 percent til you retire or die.

North Shore · Post by **North Shore** » Sat May 27, 2006 5:36 pm

IIRC, there was another post about this about a year or so ago. I think there was a link to a company offering it in Canada. Wasn't cheap, though..

asdfasd · Post by **asdfasd** » Sat May 27, 2006 6:48 pm

Available through ALPA. I pay 800 a year for 150 000, Im nearly 40.