Specialist loss of licence insurance for airline pilots in Kazakhstan
Written by Dermot Monaghan on May 02, 2017.
Twenty one airlines operate in Kazakhstan, four of which - Air Astana, SCAT, Bek Air and Qazaq Air - are big enough to be called national carriers. If you are a pilot for any of them, or indeed any other airline, you will have made a huge commitment to your training in terms of both finance and time.
The prize of a commercial aviation licence is not easily won and the last thing you want is to be prevented from flying and earning a living due to a serious accident or deterioration of your health. Nevertheless, the list of medical conditions which disqualify you from flying is long and unfortunately you cannot guarantee that you won’t be affected by one of them.
Being ‘grounded’ is often a pilot’s worst nightmare. Switching careers is never easy and, if the need arose, quickly moving into a field which would offer you a comparable salary would be a huge, perhaps impossible, challenge. Don’t count on the support of your employer either. Compensation may be paid by an airline but it is unlikely to be your full salary and payouts are usually limited to a period of a few months. Where would that leave you and your family?
Luckily, there is a solution in the form of loss of pilot's licence cover. This is basically an insurance policy which would pay you a lump sum if you were to incur a permanent total disablement (PTD) which prevented you from flying. In addition, if you found yourself temporarily unable to perform your pilot duties you would receive a monthly income for the relevant period, even if it was due to a psychological condition or an alcohol or drug-related illness.
I have advised many clients who are pilots and have extensive knowledge and experience of their financial planning needs and liabilities. I know just how much they appreciate the peace of mind that loss of pilot’s licence cover gives them and their families.
If you are working for an airline in Kazakhstan and have any questions, would like a discussion, or would like me to generate a quote, you can contact me by email at email@example.com, call me on +7(747) 837 0469 or Skype me at dermot.m.monaghan.