If you're looking for aviation life insurance you should check around very carefully and compare as many different companies and types of policies as you can find. Some life insurers have more pilot-agents on their staff or underwriters who are more familiar with the actuarial stats about aviation.
Going by statistics, it's far less likely that someone, including a pilot, will be involved in a plane crash than it is that they'll be involved in a car accident. On the other hand, when airplane crashes do happen, especially commercial airplane crashes, they are often fatal. For this reason, life insurance for pilots has been unappealing in cost and coverage.
Often times, pilots get a bum deal when it comes to life insurance. Life insurance for pilots has been more expensive than that for most people. Also, not only are life insurance policies written on pilots more expensive, they have included riders stating that the life insurance company is not going to pay out if the pilot dies in a plane crash. To have the riders removed comes at a steep increase in premiums. Historically, many pilots either didn't want to have to pay those premiums or they were blissfully unaware that they had such a rider.
However, since 9/11/2001, the life insurance industry has been slowly reconsidering life insurance on pilots. There was a fear that as a result of the downturn in the aviation industry, fewer pilots would get or even renew their life insurance policies. This has possibly led to the life insurance companies slightly re-evaluating the way they treat and underwrite pilots, as there has been a slow but steady surge in new pilot policies, and companies have also stopped lumping all airplane pilots together and treating them a one and the same.
Commercial aviators are very different from private pilots. The latter groups of pilots have considerably more chance of surviving an airplane crash than the former have. While this has always been the case, nowadays life insurance companies seem more cognizant of this.However, since this is a new trend, there are lots of distinct criteria being utilized by different life insurance companies when they choose to cover pilots. There is more "pilot centered" life insurance underwriting, as life insurers attempt to distinguish and closely assess the risks of unexpected death, of different types of pilots. Furthermore, many life insurers companies are no longer excluding airplane crash deaths from their coverage, or they do it's cheaper to buy off the rider.Aviation insurance is now something that pilots need to examine from multiple companies. The life insurers are more willing to compete for their business , and they have more available products as a result. However, the different companies have such different underwriting standards that they can have almost erratic differences in their approach to underwriting pilots.
For example, one company might offer aviation life insurance that is cheaper than its competitors for coverage of those who are in the older age ranges, but is still quite expensive for youner pilots. Then, there can be situations where some life insurance companies, will cover aviation-related risks where others will either exclude them with a rider or else charge a higher premium for the same amount of coverage on the same person. One example may be one company not checking on the exact type of non-commercial aviation engaged in by one pilot, such as to see if he also does fire-fighting, which is very dangerous. The company that doesn't check on this might unwittingly give a better premium for the same amount of coverage than another company where they are more pilot-savvy.