INSURANCES FOR PILOTS
managed by pilots
PERMANENT LOSS OF LICENCE
The Permanent Loss of Licence insurance will be provided by MACIF (France) in cooperation with DEVK (Germany) to APPN since 1957, which are the two leading European insurance companies for private customers.
The Permanent Loss of Licence 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.
APPN will offer on a regular basis a so called automatic alteration 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.
Furthermore the member can increase his/her benefits by his/her own request by two steps in case of any career progression every 5 years up to the age of 50 years. Passing the age of 50 years only the "automatic alteration" will apply up to 60 years old.
Since 2016 APPN and the insurance providers have changed the Terms and Conditions regarding and psycho-organic disorders of its members. An exclusion clause has been introduced in the group insurance policy. A deductible of 50% applies to all new memberships for the Loss of Licence insurance in case of any psychological problems/disorders which consecutive lead to a full medical loss. This excess is time-limited and is applicable during a period of 6 years from the start date of the contract. This means during this period of time APPN will pay 50 % of the guaranteed capital. Moreover during this period of 6 years when a member requests for an increase of the guaranteed capital the deductible of 50 % also applies to the differential of the guarantee. Please refer as well to the membership form.
The maximum starting capital for the Permanent Loss of Licence is € 340.000 for all new members
If your income is not paid in Euro (€) currency you can easily convert your current salary to find the applicable monthly allowance and the respective monthly premium.
Note: Above the age of 45 years all existing members will move into the column of “above 45 years” and for those who joined between 40 and 45 years a surcharge of 10% of the original premium will be applied. An additional surcharge of 20% to all members with an age of 45 years old at the time of joining APPN is applicable - above the age of 45 years there will be no further surcharge on the premiums anymore.
Note: Above the age of 45 years all existing members will move into the column of “above 45 years” and for those who joined between 40 and 45 years a surcharge of 10% of the original premium will be applied. For all members who will join in the month of their birthday of 45 years, an additional surcharge of 20% is applicable - above the age of 45 years there will be no further surcharge on the premiums anymore.