Your Questions Answered: I am a pilot, where can I find affordable life insurance coverage?

livemint.com:

Hi Rohit, the job of a pilot is indeed an exciting journey filled with adventure and responsibility. However, it's no secret that certain professions, including aviation, are deemed high-risk by insurance companies. That translates into higher premiums. Finding affordable life insurance coverage tailored to your needs is a crucial aspect of financial planning.

Let us explore how to navigate the complexities of insurance and secure life coverage that suits your occupation, without breaking the bank.

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Start by shopping around. Different insurance providers have varying underwriting criteria and pricing structures. Obtain quotes from multiple insurers—traditional companies and those specialising in coverage for high-risk professions. Utilise online comparison tools or consult an independent insurance broker to access a wide range of options.

Group plans can sometimes provide more favourable rates compared to individual policies. Explore group insurance plans offered by professional organisations or associations of pilots.

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While your profession may be high-risk, adopting a healthy lifestyle can positively impact your insurability. Regular exercise, a balanced diet, and abstaining from tobacco use are among the important factors that insurers consider when working out premiums. Demonstrating a commitment to a healthy lifestyle can potentially lead to a more affordable premium.

Unlike whole life insurance, term insurance provides coverage for a specified term, allowing you to tailor the policy duration to your needs. Term life insurance is often more