INSURANCES FOR PILOTS
managed by pilots
TEMPORARY LOSS OF LICENCE
The Temporary and Permanent Loss of Licence 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.
The Temporary Loss of Licence insurance is the most important insurance which will cover your monthly expenses up to € 10.000 in case of your medical unfitness when you are temporay loosing your class 1 medical licence for a maximum time of 36 months and up to the age of 65 years.
Each company 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. See also the instruction and guidline in the application sector.
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 the member is entitled to a payout of 75% of his subscribed guarantees.
APPN will offer on a regular basis (usually every 12 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.
To join APPN and their Loss of Licence insurance scheme the pilot must be below the age of 45 years.
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.
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.