Corporate and commercial pilots have always had a tough time securing insurance should they lose their license on grounds of ill health.
Since the arrival of Covid -19, insurers that were previously willing to provide such insurance have since retreated and are not currently offering.
The situation may well change again in future.
Please drop a line to Ms Romi Gill expressing your interest in this cover and we will be quick to advise just as soon as we see insurers again willing to offer cover.
Tel +852 2530 2530
Loss of License provides vital benefits to Pilots who have become disabled due to illness or injury.
|SCHEDULE OF FOR GBG LOSS OF PILOT'S LICENSE BENEFITS|
|A||Permanent Total Disablement by Bodily Injury or Sickness||100% of the Sum Insured|
|B||Permanent Total Disablement by Classified Illness or Psychological Illness||25% of the Sum Insured|
|C||Temporary Total Disablement by Bodily Injury or Sickness||2% of the Sum Insured per month*|
|D||Temporary Total Disablement by Classified Illness or Psychological Illness||0.5% of the Sum Insured per month*|
|*TTD monthly payment not to exceed 75% of monthly salary. Payments made on Temporary Total Disablement will erode the Permanent Total Disablement sum insured.|
|One payment of 100% of the Sum Insured shall exhaust the Sum Insured per Insured Person.|
|In the event the Insured Person holds more than one License, all Licenses must be lost for a claim to be considered|
GBG Loss of License Definitions
Permanent Total Disablement: means the Insured Person is totally unable to perform the essential duties of their own previous occupation as a license holder, and which lasts 180 days and at the end of that period is beyond hope of improvement.
Temporary Total Disability: means the Insured Person being entirely and temporarily prevented from acting in the capacity for which he or she holds a License due to:
A Classified Illness: is an illness which is directly or indirectly caused by alcohol, drugs or narcotics.
A Psychological Illness: is defined as when an Insured Person suffering directly or indirectly from stress, anxiety, depression, mental anguish, neurosis or the like and which is diagnosed by a medically or other appropriately qualified practitioner. Such an illness shall imply severe and lasting impairment in personal performance and capable of being diagnosed under the internationally recognised classification system DMS-IV-TR (the Diagnostic and Statistical Manual of Mental Disorders, Fourth Edition, 2000).
Navigator Insurance Brokers Ltd
Unit E, 8/F Golden Sun Centre
No. 59-67 Bonham Strand West
Sheung Wan, Hong Kong