Frequently Asked Questions
What is the difference between the Air Health Monthly Pay plan and the Lump Sum Catastrophic Disability plan?
The Air Health Monthly Pay plan is designed to supplement your income on a monthly basis, while you are temporarily out of work but expecting to go back to flying when your health permits. The Lump Sum Catastrophic Disability plan is payable when the doctors agree that you are permanently unable to fly. Since the plans are designed to solve different problems, they are often purchased together.
Is the Air Health Monthly Pay Disability Income Insurance Benefit taxable? How about the Lump Sum Catastrophic Disability Insurance Income?
The benefits are tax-free because you pay for the benefits with after tax personal funds. These plans are designed to help you keep your world intact until you return to active flight status.
Can I collect benefits under another plan at the same time?
Monthly benefits may be up to two-thirds of your lost monthly income and up to 100% when combined with any other valid loss of time coverage sources of disability compensation. Air Health Monthly Pay Disability Benefits may be paid on top of other disability income. Benefits may be reduced so total disability income does not exceed lost monthly income.
Does the Air Health Monthly Pay and Lump Sum Catastrophic Disability Insurance cover me if I have an FAA violation?
No, these plans are not designed to cover an FAA violation. They are designed to cover a pilot if he becomes disabled. Disability is defined as the inability to perform the substantial and material duties of a commercial pilot as a result of injury or sickness.
How much loss of license coverage can I purchase?
For the Air Health Monthly Pay Disability plan you are able to purchase up to two-thirds of your current monthly income. For the Lump Sum Catastrophic Disabilty Insurance, you can purchase up to two and one half times your current annual income.
When can I start collecting benefits from the Air Health Monthly Pay Disabilty Income Insurance? How about the Lump Sum Catastrophic Disability Insurance?
The start date for the Air Health Monthly Pay Disability Income insurance is based on the waiting period that you select during the application process. The Lump Sum Catastrophic Disability Insurance plan has a wait period of 12 months.