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Glossary of TermsGlossary of Terms

A

A-Rated Carrier - An A rated insurance carrier is a company that has received financial size and financial strength ratings from a financial rating agencies such as A.M. Best.  Ratings are used by prospective insured’s and agency’s to evaluate the ability of an insurance carrier to pay potential claims.

Accident Forgiveness - A program offered by an insurance carrier, which when specific training requirements are met, deductibles are waived with no increase in renewal premium, due to an accident, incident or claim.

AD&D Coverage - Accidental Death & Dismemberment insurance.  Benefits are paid to the beneficiary, should death or dismemberment occur due to an accident.  Additionally, fractional amounts of the benefit amount will be paid out if the covered person loses a bodily appendage or sight because of an accident.

Bodily Injury Coverage - Means the physical injury, sickness, disease, and if arising out of the foregoing, mental anguish, or death of a person including damages for care and loss of services caused by an occurrence.

Amended Coverage - To adjust, modify, or change coverage.

B

Bodily Injury Coverage – The physical injury, sickness, disease and, if arising out of the foregoing, mental anguish, or death of a person including damages for care and loss of services caused by an occurrence.

Bound Policy - A bound policy is temporary coverage extended to an applicant during the application process.  A policyholder may bind their coverage, and then have a set amount of time thereafter to get their application completed and their premiums paid.

C

Certificate of Insurance – AD&D - This provides an outline of the plan's coverage. You will be mailed a Certificate of Insurance that contains the full terms and conditions. Please read it carefully and file it with your important personal papers where it can be found in case of your accidental death.

Commercial Insurance - Commercial Insurance is coverage that protects businesses against property damage or bodily injury claims. A Commercial Insurance Policy allows the insured to charge for their services.

Comprehensive Coverage – Insurance designed to pay for the repair or replacement of the policy owner's aircraft in the event of damage not resulting from an accident. Term used for a variety of insurance policies providing broad protection.

Conversion Privileges - Life insurance coverage that can be converted into permanent insurance.

E

Emergency Assistance Plus (EA+) + and Medical Insurance - EA+ is not a substitute for your medical insurance. Your regular insurance pays for your medical care. EA+ pays for all the extra services described on this website. These help ensure you get the best diagnosis and proper ongoing care. Plus, EA+ helps make sure you get home quickly and safely if need be, and at no cost to you.

This information is only an outline of the plan's features. The full terms, benefits and conditions of the plan are shown in your EA+ Plan Description. You must call EA+ so we can make arrangements for you. Please read your Plan Description carefully. Availability of this offer may change.

Effective Date of Coverage – AD&D - This coverage becomes effective upon the receipt of your premium, provided your enrollment has been approved. As long as your premiums are paid, the Master Policy is in effect, you remain a member of AOPA and are under age 75, you may continue to renew your coverage.

Emergency Assistance Plus (EA+) - Travel emergency assistance for when you are traveling across the state, across the country, or across the world and have a medical emergency.

Exclusions – Aviation Insurance - Items or conditions that are not covered by the insurance contract.

Exclusion – Life Insurance - There is no aviation exclusion. ReliaStar will pay the death benefit for all causes of death except suicide, while sane or insane, which occurs within two years of the date your insurance starts. ReliaStar will then refund only the amount of premiums paid for your insurance.

This information describes the main provisions of the group policy. The complete terms and conditions of coverage are contained in Group Policy 66702-1ASSNLFG, which is issued to the Association Members Life Insurance Trust. Insurance underwritten by ReliaStar Life Insurance Company. This plan may not be available to residents of all states.

Effective Date – Life Insurance - Coverage will become effective on the later of the first day of the month on or after the date ReliaStar Life approves your proof of good health (if it is required), your premium is received, or you become eligible for insurance.

This information describes the main provisions of the group policy. The complete terms and conditions of coverage are contained in Group Policy 66702-1ASSNLFG, which is issued to the Association Members Life Insurance Trust. Insurance underwritten by ReliaStar Life Insurance Company. This plan may not be available to residents of all states.

F

Family Sub-Limits - A limitation in an insurance policy that places a maximum on the amount available to a family member of the policyholder.

H

Hull Damage Coverage – Protection against physical damage to an aircraft.

Hull Value – The limit for physical damage (hull damage) coverage. Also referred to as “insured value.”

L

Legal Defense Coverage - Protects the insured in the event he or she is sued for claims that fall within the coverage of an insurance policy.

Liability Coverage - To pay on behalf of the insured all sums up to the policy limit, which the insured shall become legally obligated to pay as damages because of bodily injury or property damage sustained by another party.

Living Benefits - Allows the insured, under certain circumstances, to receive the proceeds of their life insurance policy before death. Such circumstances may include terminal illness. Also known as "accelerated death benefits."

Portable Coverage - Coverage that may be transferred to an individual life policy with the same insurance carrier.

Loss of Use Coverage - Part of an insurance policy that is intended to reimburse an owner for the inability to use his or her property that was damaged by another party’s negligence.

M

Medical Payments Coverage - Coverage that pays medical, surgical, hospital and funeral expenses up to the applicable limit, regardless of the liability of the insured.

N

Non-binding – No coverage is issued and no premium paid. An application for insurance is submitted to the insurance company to find out whether or not you will be accepted.

Non-Owned Coverage - An excess policy written to cover the liabilities arising out of one’s use of an aircraft owned by another party.

P

Pilot Advocate - A Pilot Advocate is a person or organization who publicly supports pilots and the pilot community.  A pilot advocate pleads and defends the rights of other pilots.

Portable Coverage – Coverage that may be transferred to an individual life policy with the same insurance carrier.

Primary Policy - The coverage that goes into effect first when a policyholder files a claim.

R

Reduction of Benefits – Life Insurance - The amount of your death benefit will be reduced by 50% if your death is a result of flying in or on an ultra light aircraft, a hang glider, or an aircraft not certified by a governmental unit.

This information describes the main provisions of the group policy. The complete terms and conditions of coverage are contained in Group Policy 66702-1ASSNLFG, which is issued to the Association Members Life Insurance Trust. Insurance underwritten by ReliaStar Life Insurance Company. This plan may not be available to residents of all states.

Restrictions – Life Insurance - Your trip must be for reasons other than medical reasons. In other words, you are not covered if your trip is just for treatment at a distant clinic or hospital.

This information is only an outline of the plan's features. The full terms, benefits and conditions of the plan are shown in your EA+ Plan Description. You must call EA+ so we can make arrangements for you. Please read your Plan Description carefully. Availability of this offer may change.

S

Smooth Coverage - A limit of liability that offers a combined single limit of coverage that applies to all bodily injury and property damage claims.  A specified maximum amount can be paid out from a covered occurrence in any combination of passenger bodily injury, other person’s bodily injury or property damage.

"Split Limit" Coverage – An older type of coverage that divides the coverage limits up over multiple areas. “Split limits” appear on the policy as separate amounts (e.g. $100,000 property damage, $100,000 bodily injury, $200,000 each occurrence).

T

Term Life (Individual and Group) - Life insurance that provides protection for a specified period of time (term).  Common policy periods are one year, five years, ten years. The policy does not build up cash value and typically terminates at a certain age.

Termination of Coverage – Life Insurance - Your coverage will end on the earliest of: the last day of the month during which you are no longer eligible for insurance under the Group Policy; the date the group policy stops; on the Group Policy anniversary date after you turn 80; the date the agreement for the Association Members Life Insurance Trust terminates; or the end of the period for which you paid premiums, if you do not make the next required premium contribution when due. Children's coverage ends when they cease to be eligible dependents

This information describes the main provisions of the group policy. The complete terms and conditions of coverage are contained in Group Policy 66702-1ASSNLFG, which is issued to the Association Members Life Insurance Trust. Insurance underwritten by ReliaStar Life Insurance Company. This plan may not be available to residents of all states.

W

Waiver - A waiver is the relinquishment of a right or privilege.  For example a Waiver of Subrogation is the insurance company waiving the right to subrogate or recover for payments made.

Contact Us for Support

Aviation

800.622.AOPA (2672)

Life Insurance

844.304.AOPA (2672)

AD&D

844.304.AOPA (2672)

EA+

844.603.0568

Loss of Medical

800.241.6103

 

More Contact Information