IFP
INSURANCES FOR PILOTS
Loss of license insurance with APPN
APPN is offering the Loss of License insurance with various and individual options including a Life insurance to all professional pilots including student pilots (trainee) holding an ICAO class 1 medical.
The Temporary and Permanent Loss of License insurance coverage will be provided by MACIF (France) since 1957 cooperating with DEVK (Germany) which are the two leading European insurance companies for private customers. Obviously the Temporary Loss of License insurance is the most important insurance which will cover your monthly expenses up to € 12.000 in case of your medical unfitness when you are temporary loosing your class 1 medical licence for a maximum time up to 3 years. The Permanent Loss of License insurance is an additional insurance which cover the total loss of your medical licence due to medical unfitness. The permanent Loss of License can cover your medical unfitness up to € 600.000 as a lump sum payout.
It is always recommended to take a combination of the Temporary and Permanent Loss of License coverage. An option to take only the Temporary or Permanent Loss of Licence and vice versa is possible - you can add one of the products anytime before the age of 45 years.
The maximum joining age for all insurances with APPN is set before the age of 45 years.
Examples
Pilot, 30 years
Pilot, 40 years
Pilot, 45 years
Temporary Loss of License
Monthly allowance / guarantee
Permanent Loss of License
Monthly allowance / guarantee
COVER
5,000 €
340,000 €
Total monthly premium
PREMIUM
75 €
56 €
131 €
COVER
8,500 €
340,000 €
PREMIUM
140 €
56 €
202 €
COVER
5,000 €
340,000 €
PREMIUM
225 €
136 €
361 €
A life insurance can be added any time at the lowest premiums on the market, see the following example:
Capital: 165,000 EUR for only 41 € per month. Capital: 330,000 € for only 83 € per month.
Please note that the selection of the guarantees is your individual choice. The industry standard recommends to take a cover equal to your net monthly salary for Temporary Loss of License and a cover equal to 4 years of your net yearly salary for the Permanent Loss of License. Please refer to the premium tables in the online application.
Permanent Loss of License
The Permanent Loss of License insurance of APPN will cover the full loss of your medical Class 1 licence due to any medical unfitness. In this case the insurance will pay out up to € 600.000 as a lump sum to its member. The cover of the Permanent Loss of Licence insurance is an additional insurance to the Temporary Loss of Licence insurance, however can be taken as a singular insurance cover as well. A coverage (capital) equal to 4 years of your current net salary appears to be an advisable standard. The automatic alteration will follow the same principle as with the Temporary Loss of Licence insurance and is applicable to your guarantees to cover the inflation and your gradually salary increase over the years by 1 step. In example if your starting capital is € 340.000, APPN will offer you a step to the next higher one which is € 360.000 - this "automatic alteration" can be rejected by its member if requested. The automatic revision will take place usually every 18 months, Terms and Conditions will apply.
The maximum starting capital is € 340.000 for all new members.
Temporary Loss of License
As mentioned earlier the Temporary Loss of Licence insurance is the most important insurance which will cover your monthly expenses up to € 12.000 in case of your medical unfitness when you are temporary loosing your class 1 medical licence for a maximum time of 36 months and up to the age of 65 years. Each airline has its own rules in case of short-term or even long-term disability and before choosing any complementary cover, you need to know for how long and on which basis you would be covered by your employer during your medical unfitness. The recommendation is always to take a coverage equal to your current net salary. A coverage higher than your current net salary is not possible due to Terms and Conditions of the insurance provider. Therefore the latest salary note has to be provided for your application with APPN.
The guarantess of the Temporary Loss of Licence will be paid out in Euro (€) currency to your bank account and according the payout schedule - please refer below to the graph to understand the payout schedule. APPN will start to pay out after the 28th day of your confirmed medical unfitness, 50% of your guarantess for 3 months followed by 100% up to 2 years. In the last year of you medical unfitness the pilot / member is entitled to a payout of 75% of his subscribed guarantees.
APPN will offer on a regular basis (usually every 18 months) a so called automatic alteration (one step increase) to your guarantees to cover the inflation and your gradually salary increase over the years. Furthermore you can increase your benefits by your own request by two steps every 5 years in case of any career progression up to the age of 50 years and after the age of 50 years with one step only up to the age of 60 years as an automatic alteration.
Life insurance
The Life insurance will be provided by the cooperation between AXA and GENERALI. The AXA S.A. group is a French insurance company with its headquarter in Paris, France. The AXA Group is one of the largest international insurance companies and money managing group in the world, the third largest insurance group in Europe is GENERALI located in Italy. As a pilot you are exposed to many dangers and it is more than important to be covered in case of death, especially if you have a family to support. Many airlines provide such insurance for their employees, but those covers will end as soon as you leave the company or if changing the employer, starting your retirement or for any other reason. Getting older, it becomes increasingly difficult to find a new life insurance maybe and if only with some exclusions. For this reason, we recommend having a personal life insurance, even if your employer already covers you. With the APPN contract, you are covered up to 65 years old, with a possibility to extend it up to 75 years with some limitations. Like for the Loss of Licence insurance, APPN will offer on a regular basis every 18 months a so called automatic alteration to your guarantess to cover the inflation and your gradually salary increase over the years. Furthermore you can increase your benefits by your own request by two steps in case of any career progression every 5 years up to the age of 50 years and followed after 50 years with one step.
The maximum starting capital is € 330.000 for all new members.