Understanding Life Insurance for Pilots
Pilots face unique challenges when applying for life insurance. Insurers often consider aviation a high-risk profession, leading to higher premiums or special policy conditions. For example, a pilot might be approved for coverage but with an extra $10 monthly premium due to their occupation.
In this blog post, we’ll explore why insurers charge pilots more, how underwriting works for aviation professionals, and tips to secure the best life insurance rates.
Why Do Pilots Pay More for Life Insurance?
1. Higher Risk Classification
Insurance companies assess risk based on occupation, and flying is considered hazardous compared to desk jobs. According to Federal Aviation Administration (FAA), even with strict safety protocols, pilots face higher mortality risks due to:
- Accidental exposure—Aviation accidents, though rare, can be fatal.
- Medical risks—High-altitude flying can strain cardiovascular health.
- Irregular schedules—Fatigue and stress increase long-term health risks.
2. Underwriting Factors for Pilots
When evaluating a pilot’s application, insurers consider:
- Type of flying (commercial, private, military)
- Flight hours (more experience may lower premiums)
- Medical history (FAA medical certification helps)
- Aviation history (accidents or violations increase risk)
3. Extra Premiums & Exclusions
Some insurers add an “aviation hazard” surcharge, like the $10 extra in the example. Others may exclude aviation-related deaths but cover other causes.
How Pilots Can Get Better Life Insurance Rates
1. Compare Multiple Insurers
Not all insurers treat pilots the same. Companies like Prudential or AIG specialize in high-risk policies and may offer better terms.
2. Maintain a Strong Medical Record
Since the FAA requires regular medical exams, staying in top health can help lower premiums.
3. Choose the Right Policy Type
- Term life insurance—more affordable but temporary.
- Whole life insurance—costly but builds cash value.
4. Work with an Independent Agent
An agent familiar with aviation risks can find insurers who offer competitive rates.
While pilots may pay higher premiums, securing life insurance is still possible. By understanding underwriting factors and comparing policies, aviation professionals can find affordable coverage. Always review policy details, including exclusions, before committing.
For more details on FAA medical requirements, visit Federal Aviation Administration (FAA). If you’re a pilot looking for life insurance, consulting a specialized broker can help navigate the best options.