As a pilot you need to be in tip top condition to do your job. Even relatively minor medical problems can prevent you from doing your own job. It is important therefore to take out cover in the event that you cannot do your own job, especially if you are the sole breadwinner in your family.
“The one protection policy every working adult in the UK should consider is the very one most of us don’t have – income protection.” Which? 2014
What is pilots’ sickness insurance?
Income protection insurance for airline pilots is a form of specialist insurance designed to help maintain a level of income and hence your lifestyle in the event of being unable to do your own job.
Do I need it?
The tests you go through to be signed off as ‘competent to fly’ are stringent, without an almost perfect bill of health, you risk loss of income. The occupational risks in the role are many, therefore the risk of not being able to do your own job, due to poor health or disability are high.
As airlines reduce employee benefits in order to try to maintain margins, many will now only offer reduced sick pay benefits relative to years gone by. This means that taking out a suitable personal income protection policy, is now more important than ever.
Lastly, air quality in airplanes is currently being questioned in the media and investigated, the long term effects of exposure to poor air quality are still unknown. As a pilot or cabin crew you should think seriously about taking out suitable cover in the event that you suffer an unexpected illness as a result of this.
In the event that you could not do your job for a protracted period of time, or indefinitely for that matter, could you maintain your lifestyle if you suffered a total loss of income?
Specialist income protection for pilots
It is possible to provide a bespoke income protection policy catered to your profession as a pilot; however, not many providers will do this now. It is important therefore to seek expert help in the form of a chartered financial adviser, to find the right cover for you.
Getting own occupation cover
It is particularly important given the level of skill required in your job role as a professional pilot, that your income protection insurance policy covers you in your own occupation.
As an example, if you have a problem with your vision or a heart murmur, high blood pressure, etc. any of these may trigger the policy to pay out.
Want further information?
Perhaps the most important advice I give to my clients is to plan carefully and do not leave things to chance. My job is to help you grow and protect your assets by providing the know-how you need to make informed decisions about your future. I then help you implement the strategy into a reality by working with you over the long term, helping you to build, brick by brick, a successful and robust financial situation.
Get in touch to discuss your bespoke income protection requirements.