Let EAA Insurance Plan Cover the Gaps
By Bob Mackey, EAA Insurance Plan - Falcon Insurance Agency Inc.
March 28, 2013 - The other day I got an urgent phone call from an EAA member for whom I recently helped get airplane insurance on his new homebuilt. My first thought was that something had happened to his airplane, but he was calling to express a concern regarding the life insurance policy he purchased several years ago. The policy excluded coverage for any aviation activities.
His life insurance agent informed him that the policy could be modified to include aviation activities, but it would come with a 200 percent premium increase. Not only that, the modified life policy would exclude coverage while flying in any homebuilt aircraft. The EAA member was worried he might have to get rid of his new airplane.
I told him that since his homebuilt is covered through the EAA Aircraft Insurance Plan, I just might have a solution - a relatively new product created due to repeated requests from EAA members who had similar gaps in their life insurance coverage.
EAA's Personal Insurance Plan includes accidental death and dismemberment coverage that picks up where traditional life insurance stops. The EAA plan includes nearly all aviation and non-aviation activities, and at a fraction of the cost of amending existing life insurance policies. The plan also applies to pilots flying any aircraft with an FAA airworthiness certificate, including homebuilts and light-sport aircraft.
EAA's plan not only takes care of the gap in coverage in traditional life insurance, but also includes insurance for non-aviation related losses. Last, and certainly not least, the EAA plan is very affordable.
The formerly frantic EAA member called me back after I provided the website link for him to go online and purchase insurance right away - requiring no physical and no waiting period, and no hassles. "The EAA plan came to the rescue!" he said. I told him, "That's what EAA does."
Let's all fly safely!
If you'd like to learn more about the EAA Personal Insurance Plan and other insurance plans available to EAA members, visit www.EAAInsurance.org or simply call the Falcon Insurance Agency at 866-647-4322.
And remember, when you get insurance with any of the EAA plans, you're also helping support EAA member safety and youth education programs.