Pilot Loss of Licence

Note: Coverage is only available to pilots who have a Canadian address.

Pilots are subject to strict medical qualification in order exercise the privileges of an Air Transport Pilot Licence (ATPL).  Many health issues that would not affect the ability of traditional workplace employees to continue working could easily cause a pilot to temporarily or permanently lose his or her licence and their ability to earn an income.

The Hunter McCorquodale Pilot Loss of Licence plan is a unique form of disability insurance which allows professional pilots of all types to protect their income during such periods of Temporary Loss of Medical Qualification and/or Permanent Loss of Medical Qualification.

Coverage is available on an individual or group basis to all types of professional pilots including:

  • commercial pilots
  • helicopter pilots
  • charter operators
  • firefighting pilots
  • agricultural aviators
  • stunt pilots and
  • test pilots
FEATURE DETAILS
Structure: Pilot Loss of License coverage is available on an individual basis as well as on a guaranteed issue basis for groups and can include the following:

  • Monthly benefits for Temporary Loss of Medical Qualification
  • Lump Sum benefits for Permanent Loss of Medical Qualification or
  • A combination of Temporary and Permanent Loss of Medical Qualification benefits
Coverage Amounts: Temporary Loss of Licence benefits are typically 2% of the Permanent Loss of Licence Capital Sum. Alternatively, an insured person can choose a monthly amount up to 85% of of their monthly taxable earnings.

Permanent Loss of Medical Qualification Capital Sums up to a maximum of 5 times annual earnings (combined total with any Temporary Loss of Licence benefits) depending on your age at the time of application.
Issue Ages: Up to age 64
Currencies: Canadian or US dollars
Policy Terms: 1 year term. Renewal is subject to underwriting.
Elimination Periods: Temporary Loss of Licence: 30, 60, 90 or 120 days

Permanent Loss of Licence: 12, 18, 24, 36, or 60 months
Definition of Disability: Temporary Total Disablement (Loss of Licence) means the prevention of the Insured from acting in any capacity for which he holds a licence(s)/Certificate(s) due to the Licence(s)/Certificate(s) being temporarily suspended by the licence issuing authority on medical grounds.

Temporary Total Disablement (Loss of Licence) shall also include any period of self-suspension provided it is confirmed within 28 days by the issuance of a “temporarily unfit” assessment by the relevant licence issuing authority.

Permanent Total Disablement (Loss of Licence) means the prevention of the Insured from acting in any capacity for which any Licence(s)/Certificate(s) are held due to all such Licence(s)/Certificate(s) being permanently revoked or a long term unfitness assessment being issued in respect thereof on medical grounds which in the opinion of a qualified medical practitioner are beyond hope of improvement and which entails both the following consequences:

  • the inability of the Insured to obtain a renewal of such Licence(s) or Certificate(s) or to obtain withdrawal of the unfitness assessment or revocation within a period of 60 months from the date of the same;
  • the inability of the Insured to obtain any similar licence or certificate anywhere in the world within a period of 60 months from the date of the issuance of the unfitness assessment or revocation.

Provided that nothing in this Definition shall impose any obligation on the part of the Insured to seek the withdrawal of any long term unfitness assessment or permanent revocation of the Licence(s)/Certificate(s).
Premium: Premiums are determined based on the specific risk profile of each case Subject to an annual minimum premium of $1,500.
Underwriting: Individuals – subject to application. A copy of ATPL medical exam may be required depending on application declarations.

Groups – depending on the size of the group, applications may be waived at the discretion of the underwriter.

Sample Cases:

Canadian Helicopter Pilot in Africa

Male, age 48, Commercial Helicopter Pilot with ATPL A and ATPL H Airplane and Helicopter licences was flying for an oil company in Angola, Africa. With an annual salary of CAD 107,000 we insured him for a lump sum Capital Benefit of 3 times his annual earnings in the event of a permanent unfit assessment being issued.

Private Corporate Pilot Group

Six man private flight crew aged 31 to 51 were flying company personnel worldwide including North America and Western Europe. With annual salaries of up to $205,000 we provided an employer paid lump sum Capital Benefit with a 12 month elimination period of 1 times annual earnings in the event of a permanent unfit assessment PLUS 2% of the Capital Sum for Temporary Disablement excess of 90 days, payable for 12 months.

  1. – Please request a quote through our online submission form. Submit the quote along with the completed application. We will not consider an application without this.

  2. Complete an Application Form – The required application forms will be provided to you with the quote.  Please print, complete and have your client sign it before submitting.
  3. Please provide any financial information specified in the quotation. In some cases, this might be determined after receipt of the application.
  4. Complete any other forms or questionnaires indicated as required in the quote illustration.
  5. Scan and email the Application, signed Quote (and/or any other required questionnaires) to info@hunmcc.com. This will ensure immediate processing.  Originals are not required.  Please keep them for your records.  If you cannot scan the documents, please fax or send a copy via Canada Post or courier to:
     Hunter McCorquodale
    145 Wellington Street W
    Suite 1200
    Toronto, ON
    M5J 1H8
    Fax:  (416) 322-6846
  6. Include a copy of your current license and E&O insurance certificate with the application if you are not contracted with us. We will initiate contracting upon receipt of your first application.

IMPORTANT INFORMATION:

  • We will not underwrite concurrently with another insurer.
  • DO NOT order any medical evidence. All requirements will be obtained by Hunter McCorquodale. We will advise you what requirements are being arranged after the initial underwriting review.
  • Do NOT collect a premium with the application. There is no temporary insurance.
  • If the application is approved, the administrator will advise you how first payment may be made.