Are you an airline pilot and considering taking out a mortgage? To cover this, it is also necessary to take out borrower insurance. If you encounter difficulties because you practice a risky profession, rest assured, there are solutions to bring your real estate project to life while controlling your budget.
Borrower and airline pilot insurance
Borrower insurance is essential in the context of a mortgage. It allows you to be covered in the event of death , disability or work stoppage. This home loan insurance comes to take over and partially, or totally, assumes your monthly payments. It therefore has a great responsibility, the insurance company must take care to control the risk that you will no longer be able to repay your loan.
As an airline pilot , you exercise a risky profession in the eyes of insurers. Also, they are likely to ask you for additional guarantees which will increase the price of your borrower insurance. They can also provide for exclusions , or even refuse to insure you.
Why is an airline pilot considered a risky job?
The profession of airline pilot is a risky profession. It is simply explained. You spend a lot of time traveling, the risk of an accident is higher than for someone who works in an office. On the other hand, the job of airline pilot requires very special attention which can have an impact on your health. During your activity, you are required to visit different countries. However, some are particularly at risk, both in terms of health and safety.
What questions can you be asked as an airline pilot?
First, as with any borrower, the bank will ask you to complete a medical questionnaire . She wants to know the risk of premature death or illness impacting your ability to repay your monthly mortgage payments.
She will therefore ask you about your weight, if you are a smoker, if you are taking medication or if you have suffered from a serious illness recently.
As the profession of airline pilot is considered a high-risk profession, you will also have to answer questions specific to your professional activity.
- What types of planes do you fly?
- How many hours do you fly each month?
- What countries are you going to?
- Have you ever been off work because of your job?
The answers to these questions will impact your insurer’s decision. He can then decide to offer you a classic insurance. But he can also decide that the risk is high and impose an additional premium or exclusions of guarantees . Finally, he can simply refuse to insure you.
What solution if you are refused loan insurance?
If your bank’s insurance refuses to insure you, know that this does not put an end to your real estate purchase project. Indeed, the Lagarde law allows the delegation of insurance . As a result, you can take out borrower insurance for airline pilots with the establishment of your choice.
You can subscribe to a traditional insurer or a specialist in high-risk professions who will be able to offer you guarantees adapted to your profile.
How to choose the best borrower insurance for an airline pilot?
If you are looking for the best borrower insurance for an airline pilot, why not use our home loan insurance comparator ? This simple, fast and free tool allows you to compare offers from insurers and select the one that will offer you the best value for money. Even with a risky job, you will find an insurance company that agrees to cover your mortgage.
If you wish to change borrower insurance during the loan, the Lemoine law allows you to terminate your contract at any time to take out cheaper insurance with equivalent guarantees.
