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  • 1. JKRMIBL- 188888058, www.aviationinsurance.in
  • 2. Loss of License (LoL) & Personal Accident (PA) Cover “WHAT WOULD HAPPEN IF COULDN’T FLY...?”That’s a question all career pilots must ask themselves !!! JKRMIBL- 2 88888058, www.aviationinsurance.in
  • 3. Loss of License (LoL) & Personal Accident (PA) Cover• Flying is a high risk job and requires high level of medical and physical fitness.• A Pilot earns his license after years of hard work and considerable expense.• But the career and income of a pilot is subjected to the risk of serious injury or deterioration in health.• The high package that a pilot gets often results in higher expenses and bigger liabilities (Loans etc.)• Any medical grounding of a Pilot results in a huge financial stress to him and his family.• To reduce this all Pilots must have adequate Loss of license and personal accident coverage. JKRMIBL- 3 88888058, www.aviationinsurance.in
  • 4. Loss of License (LoL) & Personal Accident (PA) Cover• While we cannot always prevent the unexpected, some planned protection can sometimes help lessen the damage when disease / disability threatens a career that has provided its members (and members’ families) with the lifestyle they’ve come to know.• Loss of License (LOL) with Personal Accident (PA) Insurance is one such type of protection that all career pilots need, making sure that they’ll remain financially secure if they Lose their License to Fly.• This is probably the most important cover that a career pilot can have.• This will enable you and your family to enjoy sustained peace of mind while continuing with your current lifestyle even when there is a looming threat of disease / disability. JKRMIBL- 4 88888058, www.aviationinsurance.in
  • 5. Loss of License (LoL)• Provides compensation to a pilot on account of any bodily injury and / or illness resulting in INCAPACITY. The same must be certified by the Medical Board of DGCA as Temporary Medical Unfitness (TMU) / Permanent Medical Unfitness (PMU).• Incapacity relates to grounding of a pilot on account of PMU / TMU which prohibits concerned pilot from flying. JKRMIBL- 5 88888058, www.aviationinsurance.in
  • 6. Loss of License (LoL)Quantum of Compensation in case of a LOLCoverage:• For PMU 100% of Capital Sum Insured.• For TMU 1% - 2% of Capital Sum Insured per month. (for up to 24 months)There is a cooling period this is the first 60-90days of incapacity for which no compensation ispaid. JKRMIBL- 6 88888058, www.aviationinsurance.in
  • 7. Loss of License (LoL)For example a Pilot aged 35 with two dependents earninga salary package of approx. 50 lac per annum is eligiblefor a cover of approx. 3 times the annual package.• This means he must have a LOL of at least 150 lac each.Quantum of Compensation in case of a LOL Coverage:• For PMU @ 100% of Capital Sum Insured or Rs. 150 Lac as in above example.• For TMU @ 2% of Capital Sum Insured per month or Rs. 3 Lac per month as in above example. (for up to 24 months) JKRMIBL- 7 88888058, www.aviationinsurance.in
  • 8. Personal Accident (PA)• The Insurer shall pay as per benefit applicable to any Insured person in case he sustains any bodily injury caused by accident violent external and visible means whilst entering into alighting from our being as Pilot member of the crew or passenger in any licensed standard type of aircraft anywhere in the world . JKRMIBL- 8 88888058, www.aviationinsurance.in
  • 9. Personal Accident (PA)• 100% of Capital Sum Insured (CSI) in case of DEATH or PERMANENT DISABILITY, LOSS OF 2 LIMBS, Total irrecoverable loss of sight of both eyes or 1 LIMB & 1 EYE resulting from any accident (including an aviation accident).• 50% of Capital Sum Insured (CSI) in case of Total irrecoverable loss of sight of one eye, Loss of hearing in both ears, LOSS OF ONE LIMB, resulting from any accident (including an aviation accident).• 1% of CSI or Rs. 2500 per week in case of temporary total disablement.• 5% of CSI per annum for a period not exceeding 20 years or 100% of CSI as lump sum in case of totally and absolutely incapacitated. JKRMIBL- 9 88888058, www.aviationinsurance.in
  • 10. Personal Accident (PA)• This a 24 hour world-wide cover, on/off duty.• There are some Exclusions like Suicide, self injury, deliberate self exposure to unnecessary danger, breach of law, under influence of intoxicating liquor/drug, flying in an aircraft for illegal purpose, aerobatics, test flight or any form of flying involving abnormal hazards, etc.• The premium charged is 0.20% to 0.40% of the sum insured, i.e. for a PA cover of Rs. 1 Cr the premium can be Rs. 20, 000 to Rs. 40,000 per annum (+ST) based on underwriting company. JKRMIBL- 10 88888058, www.aviationinsurance.in
  • 11. Our Role Policy Placement and Administration ServicesThe aim of this service is to ensure a smooth handholding of the client during theentire process of Policy placement, risk underwriting and keeping updated records.• Gathering of underwriting information from the Proposer (Pilot),• Appraising Proposer about the types of coverage available and providing suggestion for inclusion of appropriate coverage as per age/liability and risk involved therein,• Internal discussions with the Proposer to understand the dynamics and feedback related to risk management,• Floating Quote request based on the above and negotiating better rates,• Preparation and submission of the Quote Comparison Report (QCR),• Get clients consent over the choice of Insurer and premium payment ,• Placement of the policy with the Insurer of the client’s choice,• Receiving the policy, vetting and delivering the policy to the client in time bound manner,• Preparing an annual insurance plan calendar for smooth renewals,• Assisting client in policy administration which includes routine reviews of policies, addition and deletion of endorsements, JKRMIBL- 11 88888058, www.aviationinsurance.in
  • 12. Our Role Claim Expediting and Management Services :In case of claims following assist clients inensuring all required updated documents arepresented to the Insurer.Best Practices Development Services: The aim ofthis additional service is to appraise and updateclient about the best practices to ensure afavourable claim experience. A claim free recordwill ensure better risk management practices, lowercost of Insurance and loss of life &limb. JKRMIBL- 12 88888058, www.aviationinsurance.in
  • 13. Contact DetailsJK Risk Managers and Insurance Brokers Limited A-21, Sector-5, Noida-201 301 U.P. www.jkbima.com Sunil Kumar Business Head - Aviation Insurance # 9560798383 Sunil.kumar@jkmail.com www.aviantioninsurance.in JKRMIBL- 13 88888058, www.aviationinsurance.in