Neucash Aviation Package specifically designed for professional aircrew

General Details

Life is unpredictable – you’ll never know when your career comes crashing down.

You may not be able to foresee the future, but you can always plan ahead. Protect yourself and your loved ones from financial strain if a calamity were to befall you. With the Neucash Aviation Package , you & your family can maintain the lifestyle you want without worry.

Loss of License
Pays a temporary monthly benefit if your licence is suspended or a lump sum benefit if your licence will not be reinstated.
Personal Accident Coverage
Pays a fixed sum following an accident.
Other Benefits
High-level professional service that combines financial and investment advice, accounting and tax services, retirement planning and legal or estate planning.

As part of the Neucash Aviation Package, a self-guided online wealth management service that provides automated investment advice at low costs and low account minimums, employing portfolio management algorithms is included.

The funds and investment programme is one that encompasses the estate planning and the insurance portfolio for pilots and air crew. This involves, professional consultancy and advisory for funds and investment which is a combination of financial and investment services.

Other benefits included are  discounted travel personal accident coverage for spouse and family, as well as legal advice on claims and packages.

To enjoy the discounted travel personal accident coverage, which is available in both single (per trip) or annual options,  the submission of details of family members is required at least one week before the travel dates.

The Neucash Aviation Package is issued together with a Neucash Insurance Card, an electronic insurance identification card through the unique policy identification which contains the insurance policy information. The information shall include the premium, the coverage, the inclusions and exclusions together with the expiry or duration of the coverage.

Loss of License

(i) PERMANENT LOSS OF LICENSE COVER
The benefit indemnifies the insured pilot under this policy for permanent loss of license due to any disability or disorder including all forms physical, physiological and psychological disability and disorders sustained by the insured pilot arising from illnesses, diseases or accidental causes, unless excluded, resulting to his/her unfitness to carry out the functions authorised by possession of the license during the commencement of this policy.

The coverage shall be up to a maximum of 36 times of monthly basic salary or the nominated sum insured selected per insured pilot/air crew whichever is lower.

The definition of unfitness shall be made reference to the definition under the provision and guide by the Department of Civil Aviation of Malaysia.

(ii) TEMPORARY LOSS OF LICENSE
The benefit indemnifies the insured pilot/air crew under this policy for temporary loss of license due to any disability or disorder including all forms physical, physiological and psychological disability and disorders sustained by the insured pilot arising from illnesses, diseases or accidents, unless excluded, resulting to his/her unfitness to carry out the functions authorised by possession of the license during the commencement of this policy during the commencement of this policy.

The indemnity shall be based on the last drawn monthly basic salary of the insured pilot up to 2% of the capital sum insured per month (under Benefit (i) above) to a maximum period of 24 months.

The definition of unfitness shall be made reference to the definition under provision and guide by the Department of Civil Aviation of Malaysia.

Personal Accident

PERSONAL ACCIDENT COVER
The benefit indemnifies for death or permanent disablement sustained by the insured pilot/air crew under this policy arising from accidental causes.

INSURED PERSONS:

  • Any pilot holding a valid Commercial Pilot License (CPL) or Airline Transport Pilot License (ATPL) issued by the DCA of Malaysia aged between 18 years old to 64 years old and is gainfully employed and active at work at the time of application.
  • Any air crew whom are licensed by the DCA of Malaysia to carry out his/her duty aged between 18 years old to 64 years old.

AGE LIMIT:
From age 18 years old to 64 years old

GENERAL EXCLUSIONS:

  • War Radiation or contamination by radioactivity or nuclear weapons material.
  • Self-inflicted injury, attempted suicide and provoked murder or assault.
  • Loss of license arising from drug or alcohol abuse resulting to physical, psychological or physiological disorder or disabilityVoluntary revocation of license by the pilot himself/herself.
  • Disability or disorders rendering to the loss of license arising from HIV-related diseases (unless due to blood transfusion) and sexual transmitted diseases (STDs).
  • Loss of license due to breach or non-compliance of operational procedure or any regulation under the Civil Aviation Regulation 2016.
  • Participation in any criminal or illegal activities.
  • Nuclear Energy Risks Exclusion Clause.
  • War and civil war exclusion

SUBJECTIVITIES:

  1. Applicant shall not have any previous experience of loss of license during the time of application. Should the applicant suffered a loss of license incident prior to the application of this coverage, the applicant must declare or disclose the condition to the underwriters.
  2. Insured pilot/air crew shall strictly adhere to the medical examination requirement as stated under the Flight Operations Directive-Medical issued by the Department of Civil Aviation of Malaysia.

For all accidental death or permanent disablement solely and directly occasioned by accidental bodily injury which shall solely and independently of any other cause result in the following:

  • Accidental Death – The capital sum insured
  • Accidental Disablement – The following percentage of the capital sum insured
Description of Disablement Percentage of Capital Sum
Permanent total disablement 100%
Loss of limb 100%
Total loss of sight of both eyes 100%
Total paralysis 100%
Complete and incurable insanity 100%
Loss of hand at or above the wrist 100%
Loss of foot at or above the ankle 100%
Loss of sight in one eye (except perception of light) 50%
Loss of lens of eye 50%
Loss of four fingers and thumb of one hand 50%
Loss of four fingers 40%
Loss of thumb (both phalanges) 25%
Loss of thumb (one phalanx) 10%
Loss of index finger (three phalanges) 10%
Loss of index finger (two phalanges) 8%
Loss of index finger (one phalanx) 4%
Loss of middle finger (three phalanges) 6%
Loss of middle finger (two phalanges) 4%
Loss of middle finger (one phalanx) 2%
Loss of ring finger (three phalanges) 5%
Loss of ring finger (two phalanges) 4%
Loss of ring finger (one phalanx) 2%
Loss of little finger (three phalanges) 4%
Loss of little finger (two phalanges) 3%
Loss of little finger (one phalanx) 2%
Loss of metacarpals (first or second [additional]) 3%
Loss of metacarpals (third, fourth or fifth [additional]) 2%
Loss of toes (all) 18%
Loss of toes (great phalanges) 5%
Loss of toes (great, one phalanx) 2%
Loss of toes (one toe, each) 1%
Permanent loss of hearing (both ears) 75%
Permanent loss of hearing (one ear) 15%
Loss of speech 50%
Packages
Aviation Packages Permanent
Loss of License
Temporary
Loss of License
Other Benefits
A1
RM 150,000
(Crew Only)
RM 150,000 RM 3,000 Monthly Included
A2
RM 250,000
(Crew Only)
RM 250,000 RM 5,000 Monthly Included
A3
RM 350,000
(Crew Only)
RM 350,000 RM 7,000 Monthly Included
A4
RM 500,000
(Crew/FO Only)
RM 500,000 RM 10,000 Monthly Included
A5
RM 1,000,000
(FO/Pilots Only)
RM 1,000,000 RM 20,000 Monthly Included
A6
RM 1,500,000
(FO/Pilots Only)
RM 1,500,000 RM 30,000 Monthly Included
A7
RM 2,000,000
(FO/Pilots Only)
RM 2,000,000 RM 40,000 Monthly Included
Rates
Package / Age Band A1
RM 150,000
(Crew Only)
A2
RM 250,000
(Crew Only)
A3
RM 350,000
(Crew Only)
Below 25 Years Old RM 1,300
per annum
RM 2,000
per annum
RM 3,000
per annum
25 – 29 Years Old RM 1,300
per annum
RM 2,000
per annum
RM 3,000
per annum
30 – 34 Years Old RM 1,500
per annum
RM 2,400
per annum
RM 3,800
per annum
35 – 39 Years Old RM 2,000
per annum
RM 2,800
per annum
RM 4,000
per annum
40 – 44 Years Old RM 2,800
per annum
RM 3,500
per annum
RM 6,000
per annum
45 – 49 Years Old RM 4,500
per annum
RM 6,000
per annum
RM 9,000
per annum
50 – 54 Years Old RM 7,000
per annum
RM 10,000
per annum
RM 15,000
per annum
Package / Age Band A4
RM 500,000
(Crew/FO Only)
A5
RM 1,000,000
(FO/Pilots Only)
A6
RM 1,500,000
(FO/Pilots Only)
Below 25 Years Old RM 4,200
per annum
RM 6,600
per annum
RM 9,000
per annum
25 – 29 Years Old RM 4,400
per annum
RM 8,000
per annum
RM 9,000
per annum
30 – 34 Years Old RM 5,200
per annum
RM 9,000
per annum
RM 9,000
per annum
35 – 39 Years Old RM 6,600
per annum
RM 10,000
per annum
RM 11,000
per annum
40 – 44 Years Old RM 8,500
per annum
RM 13,000
per annum
RM 16,800
per annum
45 – 49 Years Old RM 13,300
per annum
RM 22,000
per annum
RM 32,000
per annum
50 – 54 Years Old RM 20,000
per annum
RM 39,000
per annum
RM 55,000
per annum
Package / Age Band A7
RM 2,000,000
(FO/Pilots Only)
Below 25 Years Old RM 10,000
per annum
25 – 29 Years Old RM 13,000
per annum
30 – 34 Years Old RM 14,800
per annum
35 – 39 Years Old RM 16,000
per annum
40 – 44 Years Old RM 22,000
per annum
45 – 49 Years Old RM 41,000
per annum
50 – 54 Years Old RM 73,000
per annum