Loss of Licence Insurance

Loss of Licence Insurance Insurance in Thailand

It is not just aircraft and passengers that you can cover with aviation insurance, you can also do so for staff. One example is Loss of Licence Insurance, which is a combination of accident and sickness insurance.

This insurance covers a pilot, or other members of the aircraft crew, from the loss of their licence following an accident that causes either a bodily injury or illness, as defined by the insurers.

Aviation Loss of Licence Insurance

In essence the insurance provides financial assistance for either a pilot, or other members of the crew, for when their career is terminated, and they need to find another form of employment.

Normally, payment on aviation loss of licence insurance in Thailand is conditional upon a licence either being cancelled or suspended by the licensing authority.

Aviation loss of licence insurance cover can be taken out individually, but it is more common for this to be the responsibility of the employer, who will undertake a group scheme for loss of licence.

Expert medical advice

At FEIC, we have a number of trusted insurers who provide loss of licence insurance in Thailand. They have access to the best medical experts in the country.

Loss of Licence insurance premium

Insurers will calculate the premium based on the age and medical history of the person to be insured amongst other factors. This information will influence the terms and conditions placed upon each insured person.

Schedule of benefits

Just as in the case with Aviation Personal Accident insurance {link to page}, the insurers will draw up a Schedule of Benefits, which will calculate the proportion of the capital sum to be paid out under different circumstances.

The maximum sum payable will normally be calculated as a multiple of the insured person’s annual salary.

Insurers might pay a reduced amount if the insured person’s illness is caused by alcohol, drugs or narcotics dependency, or due to some psychiatric or psychological disorder. In case of the former, insurers might also make any payment conditional upon the insured person undergoing a rehabilitation programme to their approval.

Loss of Licence Insurance exclusions and conditions

As with all policies, Loss of Licence Insurance in Thailand will contain a number of standard exclusions and conditions.

A Loss of Licence Insurance policy will also include a waiting period that needs to elapse before any payment is made. This period can be anywhere between 90 and 180 days.

It is always best to make sure you know exactly what is and what is not covered by the Loss of Licence Insurance, so please make sure you read the insurers’ wording or contact our team for any clarification.