Morningstar Air Express Pilots Loss of License Insurance
Fellow Flight Crew Members:
There are very few occupations that are as demanding as that of an Airline Pilot. There are even fewer that impose the stringent health requirements demanded of every Pilot. A slight medical deficiency can cause indefinite loss of income and financial hardship. Our program provides a Tax Free Lump Sum Loss of License insurance to assist in providing an infusion of much needed capital in assisting with a potential change of career.
If you do not currently have Loss of License Coverage privately, Porter Airlines has secured access to individual coverage available to each and everyone of you. This optional, private and portable policy is available through CSU Canadian Specialty Underwriting (Underwritten by Lloyds of London at time of application). This optional supplemental coverage will provide members up to $750,000.00 in tax free lumpsum (maximum to 5 times your annual salary) in coverage.
If you do not currently have Loss of License Coverage privately, Porter Airlines has secured access to individual coverage available to each and everyone of you. This optional, private and portable policy is available through CSU Canadian Specialty Underwriting (Underwritten by Lloyds of London at time of application). This optional supplemental coverage will provide members up to $750,000.00 in tax free lumpsum (maximum to 5 times your annual salary) in coverage.
Loss of License Lump Sum Benefit (PTD) up to $750,000.00
(Underwritten 100% by Certain Lloyd's Underwriter's)
This option provides a single, tax-free, lump sum payment up to $750,000.00 should a pilot ever permanently lose their medical certificate. This coverage is designed to financially assist the pilot at a time when it is needed most should they be unable to continue flying for a living. This large payment offers the opportunity to pay off any excess debt, attend additional schooling, or even begin another business venture. Elimination Period is 12 or 24 Months.
Critical Illness Insurance (Instant / Guaranteed Issue)
(Underwritten by Manulife)
(To be used only if No Employer LTD Plan is currently in place}
Temporary Loss of License protect Pilots against the inability to fly due to injury or illness for a short period of time. 2% of the Lump Sum benefit is paid after a 90 or 180 Day waiting period and payable for a 12 or 24 month Benefit Period followed by a PTD lump sum benefit which is reduced by any TTD payments received.
Temporary Loss of License protect Pilots against the inability to fly due to injury or illness for a short period of time. 2% of the Lump Sum benefit is paid after a 90 or 180 Day waiting period and payable for a 12 or 24 month Benefit Period followed by a PTD lump sum benefit which is reduced by any TTD payments received.
Term Life Insurance (10 Yr, 20 Yr, 30 Yr or Term to 100) Instant / Guaranteed Issue or Medically Underwritten.
(Underwritten by Wawanesa and Humania Life)
Accidental Death and Dismemberment Insurance
(Underwritten 100% by Certain Lloyd's Underwriters)
Temporary Loss of License (TTD) Monthly Benefit followed by a (PTD) Lump Sum Benefit
(Underwritten 100% by Certain Lloyd's Underwriter's)
Health Insurance Benefits for Pilots who are losing their Group Benefits due to retirement, becoming self employed or have been terminated.
(Underwritten by Group Medical Services)