April 22, 2014 - Did you know you can provide $250,000 in financial security for your family for less than $1.35 a day?
Recently an EAA member called to acquire aircraft insurance for his new airplane - a homebuilt. After we arranged for coverage through the EAA Aircraft Insurance Plan, he noted that he and his wife had just met with their insurance agent to review their current life policies and were surprised to learn that they had aviation exclusions voiding coverage for any flying activities other than in a scheduled air carrier (airline).
The agent informed him that adding coverage for flying in his airplane would require additional underwriting based on their current ages, thus increasing the base cost of their life insurance. Adding insult to injury, that added coverage for personal flying excluded homebuilts.
EAA has a potential solution for members whose life policy coverages stop when they enter the cockpit of their own aircraft: EAA’s Personal Insurance Plan for members and their families.
EAA, Starr Indemnity and Liability Company, and Falcon Insurance Agency have created a one-of-a-kind Aviation & Non-Aviation Accidental Death Insurance Plan designed for the wide variety of airplanes EAA members own and fly. Limits of insurance start at $50,000 – for less than $100 a year - and increase up to $250,000 for $492 a year. That’s peace of mind for only $1.35 a day! Family options for spouses and dependent children are also available at an additional cost.
EAA’s plan is a great supplement to existing life insurance, can cover the gap caused by those aviation exclusions, or at least eliminate the need and added expense of modifying a standard life policy or re-underwriting an existing one.
The EAA Plan also applies to both non-aviation and aviation. On the aviation side, the aircraft must have an N number and an airworthiness certificate, which includes not only standard category aircraft but also experimental and light-sport aircraft.
Learn all the details and how to acquire some peace of mind for you and your family, or contact the EAA Insurance Solutions administered by Falcon Insurance Agency at 877-230-3252.
When you insure your aircraft through the EAA Insurance Solutions administered by Falcon Insurance Agency, Inc., you are also supporting EAA member safety and youth education programs.