AVEMCO To Offer Pilot Life Insurance | Aero-News Network
Aero-News Network
RSS icon RSS feed
podcast icon MP3 podcast
Subscribe Aero-News e-mail Newsletter Subscribe

** Airborne 09.19.14 ** HD iPad-Friendly -- Airborne 09.19.14 **
** Airborne 09.17.14 ** HD iPad-Friendly -- Airborne 09.17.14 **
** Airborne 09.15.14 ** HD iPad-Friendly -- Airborne 09.15.14 **

Sun, Feb 13, 2005

AVEMCO To Offer Pilot Life Insurance

Joins Pilot Insurance Center To Offer Term Life Policies

Avemco Insurance Company, the only direct writer of property and casualty insurance for general aviation in the US, regularly receives requests from its customers for information on life insurance for pilots.  Over time, it became obvious to Avemco that the flying public wanted life insurance that did not penalize them for being pilots, from a source that shared Avemco’s passion for customer service.

Avemco researched the market and discovered that there already exists an excellent source for pilot-friendly life insurance, the Pilot Insurance Center. Avemco has now announced that it has entered into a collaborative effort with PIC to make life insurance more widely available to pilots. 

Jim Lauerman, Avemco’s Chief Underwriting Officer, explained that, “PIC confirmed to us that most life insurance carriers charge a steep extra surcharge for general aviation flight activity or exclude it from their policies. We discovered that this situation is caused by a lack of knowledge and understanding of general aviation in the life insurance industry.”

“We believe that these practices represent a disservice to pilots,” Lauerman, a pilot himself, continued, “that’s why we contacted PIC.  They’ve done their homework by negotiating with some of the country’s top life insurance companies for the best life insurance for pilots. We will bring our experience, expertise, and passion to serve the GA public to the relationship. It will be a winning combination for the flying public.

Avemco will be sponsoring term life policies underwritten by well respected insurance companies that have products tailored to GA pilots. Building on Avemco’s relationship with the pilot community, as well as its reputation in helping pilots be safer, makes Avemco the natural vehicle for such a term life insurance product.

Bill Fanning, President of PIC, put it this way: “We were able to get some special considerations built into these policies, so we can write for a pilot, at a non-pilot rate.” Fanning, who is also a pilot, explained how this was possible. “Most insurance carriers were surcharging pilots.  We presented them with new data about GA flying that they had not previously considered in their underwriting.  Using PIC's unique criteria they were able to give us exclusive pilot-friendly rates that offer truly preferred premiums for most pilots.”

The Avemco-Sponsored Term Life Insurance Program is administered by the Pilot Insurance Center.  Avemco Insurance Company will not be underwriting the term life product. Term life products offered through this program are underwritten by A.M. Best “A+” (Superior) or better rated carriers who specialize in life insurance products.

FMI: www.avemco.com

Advertisement

More News

Aero-News: Quote Of The Day (09.21.14)

"The RCAF took the initiative to remove these functional, perfectly good parts and use them effectively. It was a sound decision, helping to ensure the long-term viability of the a>[...]

Enhanced F-35 Logistics Systems Delivered To Flight Test Locations

Integrates Preventative Maintenance, Flight Scheduling, And Mission Planning The 'next evolution' of the F-35 Lightning II's information technology backbone called the Autonomic Lo>[...]

Airbus Forecasts Strong Demand For Air Travel In The Middle East

Delivers First A380 To Qatar Airways Saying Airplane Is 'Ideal' For The Region Airbus has delivered Qatar Airways' first A380, and has used the occasion to tout the airplane as pla>[...]

NBAA Names 2014 Humanitarian Award Recipients

International Jet Aviation, Make-A-Wish Foundation, To Be Honored In Orlando The NBAA is pleased to announce that International Jet Aviation Services of Centennial, CO and the Make>[...]

NASA Seeks America's 'Best And Brightest' For Research Fellowships

Applications Period Open For Space Technology Grants NASA is seeking applications from U.S. graduate students for the agency's Space Technology Research Fellowships. The research g>[...]

blog comments powered by Disqus



Advertisement

Advertisement

Podcasts

Advertisement

© 2007 - 2014 Web Development & Design by Pauli Systems, LC