Britam General Insurance has introduced the Pilot Loss of Licence Insurance in the Kenyan market for pilots. The product offers a financial safety net if they are grounded due to illness or injury.
A pilot’s career is uniquely reliant on maintaining the stringent medical fitness standards set by the Kenya Civil Aviation Authority (KCAA). A medical setback can instantly translate into a loss of livelihood. The new policy ensures that a temporary or permanent licence suspension does not result in a complete financial disaster for pilots and their families.
James Mbithi, CEO & Principal Officer of Britam General Insurance, underscored the necessity of the new product: “A pilot’s career is a significant investment, and the loss of their licence, even temporarily, can have serious financial consequences. Our new Pilot Loss of Licence Cover is designed to provide peace of mind, acting as a financial safety net.”
The policy is available to KCAA-registered pilots under the age of 65 and offers two distinct, high-value coverage options:
1. Temporary Loss of Licence Cover
This option provides financial support when a pilot’s licence is suspended due to injury or illness, whether sustained on or off duty.
a. Benefit Payouts
- 2% of the sum insured per month for bodily injury or general illness.
- 0.5% of the sum insured per month for classified or psychological illness.
b. Maximum Benefit Period
This period will be 12 months, following a 90-day waiting period.
2. Permanent Loss of Licence Cover
This option offers long-term financial security if medical conditions permanently prevent a pilot from returning to the cockpit.
a. Benefit Payouts
- 100% of the sum insured for permanent disability caused by bodily injury or general illness.
- 25% of the sum insured for classified or psychological illness.
b. Waiting Period
The waiting period is 180 days. Benefits can extend until the pilot’s retirement age.
Key policy details and eligibility
1. The sum insured is calculated at five times the pilot’s gross annual earnings to retirement, providing a level of protection proportionate to their career potential.
2. All KCAA registered pilots below the age of 65 are eligible. The policy covers a wide range of scenarios, including sports injuries and medical conditions developed during a career.
3. Pilots with pre-existing conditions may apply but must provide full medical disclosure for underwriting review.
4. The cover is designed to be a Top-Up Insurance, complementing any existing employer or individual policies. There is no limitation on benefits received from other sources for permanent loss of licence.
5. The cover is valid only while the pilot is employed by a Kenya-based scheduled air carrier. Coverage ceases upon relocating to work for an overseas airline.
6. The policy does not cover licence loss resulting from criminal acts, war, terrorism, active duty with armed forces, negligence/incompetence at work, or undeclared pre-existing conditions.