Life Insurance

[xiz]

So ..

I'm in the process of arranging life insurance, being a new homeowner.

I *should* be a pretty low risk .. late 30s/early 40s, healthy, never had a history of any sort of health problems, active, etc .. currently hold a TC Cat III medical, etc.

However, my insurance provider has informed me that because I have a private license, and fly recreationally, my monthly premiums would be, not 70 bucks per month, but over *200* bucks per month. The only other option is to take a waiver for which I would not be covered while flying. Never mind the type of flying I do, day VFR, single-engine low-performance is about as safe as general aviation can be.

This, to me seems like a supreme ripoff. I can't be the first person who's run up against this .. are there any insurance providers who won't try to soak a client because they have a private license.

Any suggestions?

[Apache64_]

Out of the two companies I have dealt with, both do not care that what my occupation is (that I know of). Unfortunately I don't have the providers name handy. Shop around, ask the bank for any other insurance providers as they should know.

Apache

[Stinky]

Shop around, you're getting screwed. I've been covered over the years from a few companies and haven't had much of a problem. A few extra forms but that's about it.
Don't get insurance on your mortgage through the bank. Get a separate policy that will be enough to cover the cost of the mortgage. Co-operators is who undewrites the ALPA members. They might have more experience than others. I have 300k on my wife an I and pay $50 a month. If something happens to both of us the Mortgage is paid plus there is a lot leftover for the kids. If something happens to one of us the mortgage is paid with a little leftover. As the mortgage is paid down the life insurance still remains the same unlike mortgage insurance where the premiums remain the same while the payout decreases.
My rate is as an ATPL flying sheduled service plus the ALPA discount so yours would be higher.

[sarg]

See if COPA has a group plan.

[just curious]

Just let them know that you are only using the plane to get to your bungey-jumping class. That'll set their minds at ease.