The Loss of Licence (LOL) insurance is for the insured pilot to partly cover against their licence being suspended in consequence of the event of bodily injury or illness. The LOL’s object is first and foremost to finance reskilling cost in carrier transition.
OSM Aviation has been a partner with the London based LOL provider Millstream for many years and we therefore have the ability to provide a high quality and competitive product in this area.
Where most Loss of Licence insurance products will not be offered or will terminate upon unemployment, Millstream Global Flying (MGF) have created a product for the current aviation climate which will still provide cover in the event of an individual losing their licence due to an accident or illness. In partnership with CrewAssist by OSM Aviation, this policy is available to those domiciled in the UK or Europe and benefits from preferential rates which you become eligible for with a Premium membership. It will allow you to be protected against the financial consequences of a permanent loss of licence, giving you peace of mind to focus on what really matters whether that is starting out your aviation career or returning to the skies.
Is there a limit to how much I can purchase?
Yes, the sum insured for this scheme has been set at EUR 100,000 per person.
Key Benefits and Exclusions of the cover
We understand the benefit of clear policy wordings so you have clarity regarding the coverage in place.
Our OSM Crew Assist Loss of Licence policy includes:
· lump sum benefit for long-term/permanent unfitness
· market-leading cover for alcohol and drug-related illnesses
· full cover for HIV and AIDs related diseases
· cover for all sporting activities
· worldwide cover
What is not covered:
· psychological or psychiatric disorders
· bodily injury consequent upon you being intoxicated by alcohol, drugs or narcotics
The above are just a sample of the benefits and exclusions, for full policy terms and conditions, please, view the policy wording.
Next steps? Please follow the below steps to obtain a quote:
1. Enquire through your CrewAssist membership page to request a price indication
2. Download and complete the application form if happy to proceed
3. Once submitted Millstream Global Flying will receive your application and respond with a formal quote
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