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Life Insurance Comparisons
The following comparisons are based upon a monthly wage of $900. After participating in a particular plan from age 30 to 50, the pilot dies.
 
                                Commercial         ALPA  
Annual cost. (1/2 by pilot       $1675.50        $1674.00
and 1/2 by his airline)

Total value to pilot's estate.    $50,000           $5580*


*If a widow exists, but no children under age 21 exist, she will receive an $81.00 monthly annuity beginning at age 60 which has a value of $10,869. Thus the payment under the ALPA plan might possibly total $16,449.


If the pilot dies at age 32 rather than at age 50, the value to his estate would be: 
Commercial   $50,000
ALPA         $   558**

**The widow's monthly annuity would be $68.85 after age 60. This might possibly increase the total payment under the ALPA plan to $9798.


If the pilot dies at age 32 leaving a widow with two children, age 5 and 7, the value of his estate will be:

ALPA

$     0   Lump sum paid upon death of the pilot.
$28,917   Annuity ($160.65) until both children are age 21.
$     0   Annuity from time children are 21 until widow is age 60.
$ 9,240   Annuity ($68.85) after widow is age 60.
-------
$38,157  Total estate value.

Commercial

$50,000 Total estate value.

In each case the widow loses her ALPA annuity if she remarries; Commercial policies would not be effected by her marital status.