Pilot’s Loss Of Licence or LOL insurance provides aviation professionals with financial assistance if their aviation career is brought to an premature end. Since 2004, AEGIS has been providing loss of license insurance to the pilots of Singapore’s national carriers and today, to all pilots with valid CAAS licence.
Our Loss of Licence insurance provides a lump sum payment of up to S$300,000 in the event that your professional pilot licence is permanently withdrawn by the Civil Aviation Authority of Singapore due to sickness, accident or death. The sum insured payable is dependent on the insured person’s age at the date of the loss of licence or death.
This insurance is only available to pilots who:
- hold a valid professional pilot licence from the Civil Aviation Authority of Singapore (CAAS);
- are Singapore citizens and gainfully employed as full time commercial pilots; or
- are not Singapore citizens but are gainfully employed as full time commercial pilots by a Singapore-based scheduled air
carrier with the primary place of employment in Singapore and are living in Singapore,
- are not grounded; and
- are 50 years old or younger on the date of application for this insurance.
This policy will not cover for any loss arising directly or indirectly from:
- Self-Inflicted injury or any attempts to commit suicide.
- War, invasion or any warlike operations
- Any acts of terrorism except if the insured pilot was on active flight duty at the time when the act occurred.
- Any form of military exercise or involvement except for when on peacetime training or exercise while on National Service.
- Pregnancy and childbirth related issues.
- Any form of sexually transmitted disease, HIV and related conditions.
- Training or participating in a sport in a professional capacity.
- Any change in the medical standards imposed by CAAS.
- Being an organ donor.
- Taking part in extreme sports.