Loss of Medical / License - Individual or Group


There are very few occupations that are as demanding as that of a professional pilot. There are even fewer that impose the stringent health requirements demanded of every pilot. A slight medical deficiency can cause indefinite grounding, causing a loss of income and financial hardship.  CSU provides Loss of License disability insurance to assist in providing an adequate disability estate for pilots.

 

Aircrew undertake years of hard work and incur considerable expense to obtain their flying license to become a pilot. However, a pilot's career and income are at risk if they are prevented from flying because of a serious injury or deterioration in health.

 

Loss of license insurance overcomes many of the problems encountered with more traditional products such as permanent health and critical illness insurance which may offer only restricted cover and reduced benefits. This insurance provides financial help in preparing for an alternative career if the aviation career is brought to an abrupt end.

 

Permanent Loss of License coverage protects Pilots against career ending injuries or illnesses (or permanent loss of license).  Before benefits are payable, a physician must certify that the injury or illness is career ending after a certain waiting period such as twelve months.  Permanent Loss of License benefit can be coupled with a Temporary Loss of License policy, to be payable after the monthly benefit ceases.

 

Who can we insure 
Corporate Pilots, Cargo Pilots, Commercial Pilots, Agricultural Pilots, Firefighter Pilots, Test Pilots, Air Ambulance Pilots or flight instructor, Helicopter  Pilots holding a current license and who is gainfully employed and actively at work here in Canada.

 

Plan 1: Lump Sum Benefit (PTD) Loss of License

(Can also be used if presently insured under an Employer LTD group plan)

This option provides a single, tax-free, lump sum payment should a pilot ever permanently lose their medical certificate. This coverage is designed to financially assist one at a time when it is needed most should they be unable to continue flying for a living. This large payment offers the opportunity to pay off any excess debt, attend additional schooling, or even begin another business venture. Elimination Period is 12 Months or 24 Months.

 

Plan 2: Temporary Loss of License (TTD) Monthly Benefit followed by a (PTD) Lump Sum Benefit.

 (To be used if No Employer LTD Plan in place with existing employer}

 

Temporary Loss of License protect Pilots against the inability to fly due to injury or illness for a short period of time. 2% of the Lump Sum benefit is paid after a 90 or 180 Day waiting period and payable for a 12 or 24 month Benefit Period  followed by a PTD lump sum benefit which is reduced by any TTD payments received.

 

This document provides only a brief description of the coverage's available and is subject to change without notice.

All the policies contain reductions, limitations, exclusions and termination provisions.