Case Study Snapshot: Private Pilot Accidental Death Insurance

---

The board of directors of an accounting firm had just purchased $3,000,000 of key person term life insurance on a 63-year-old executive officer to help protect their flourishing company.  The key executive had recently begun pilot training courses and had fewer than 100 flight hours logged.  The term life policy would not cover him as a student pilot and explicitly excluded his private aviation exposure.  His piloting activities were a risk he and his business partners were very much worried about and wanted financial indemnification while he was in the air.

The firm’s insurance agent turned to Petersen International for solutions to the concerning gap in financial protection.  We were able to dovetail the key person life insurance policy with a $3,000,000 simplified-issue accidental death plan covering only the executive officer’s piloting exposure, solving for the insurance shortfall and the risk potential for an uninsured corporate liability.