Temporary Total Disability (TTD): 12 month elimination period (waiting time between filing your claim and getting paid), $6,800 monthly benefit, 60 month (maximum) payout.
The Elimination Period is the time between the date when the accident occurs or following written or verbal notification by Aviation Medical Services or the Aviation Regulator certifying that the medical certificate has been suspended for medical reasons or following the total incapacitation of the insured person and the commencement of payments of benefits under the policy. When an accident occurs or your medical is suspended you have to notify API in writing and they will notify Clements Worldwide who will supply claim forms. The period between the claim filing and 12 months is not covered because during that time you're covered by Emirates long-term sickness program.
PTD refers to a lump-sum payout. PTD is not covered under the API program. but IS available as a top-up cover separately under Baymac – Clements Individual Loss of Income program
If you have 6 months or less left on that individual plan, then no cancellation is allowed and you should notify Baymac when the policy expires with your decision to renew or not. If you have more than 6 months left Baymac Clements will allow pro-rated cancellation subject to no claims.
Your current Baymac-Clements policy will pay in addition to the API Program Benefits just as it would have done before the launch of the new API program. Your policy already has a claims coordination clause to allow for maximum of 100% of pre-disability salary earnings to be paid as maximum disability combined between API and Baymac-Clements LOI program. Also, the API Program Benefits have an exclusion period of 12 months.
This is a non-API fee for processing your credit card payment and is charged by the facilitator, not API. We questioned it as well and were told that fees like this came up because in the 'old days' people didn't pay off their credit cards every month and were paying upwards of 18% on their debt which made the credit card companies rich. Then people got smart and started paying off their monthly balance every month and credit card companies stopped being rich and had to find another way to make a profit and this is how they do it. Our CreditVoucher company was charging 3.95% + $.65 per transactions so at least this is less.
Not at all! We negotiated a special case if you're disabled anytime before your 65th birthday (even by a day) you'll still have a 12 month waiting period but then you'll receive your benefits payments even after age 65. So, as an example if an AME declares you unfit to fly one day before your 65th birthday you'd file a claim with Baymac and if the claim is approved you'll wait 12 months (the elimination period) and then your payments would start one day before your 66th birthday and carry on until one day before your 67th birthday!
The Clements / Lloyd's of London Pre-existing is any condition for which a person would have or should have sought treatment for in the 36 months prior to the date you make your first payment under the new system.
However, while a specific medical issue might be excluded as a pre-existing condition you would still be covered by Lloyd's of Londong any other conditions that arise. It’s also important to consider that any specific medical issue you had that is pre-existing may not be the thing that causes you to be unable to fly.
The API benefit payment is $6,800 per month. This amount can be lowered by other insurance policies paying out at the same time. Most airlines have some payout for disabilities and if the API benefit payments started right away some of your API benefits could be lowered against another policy. By waiting a year there are less chances of you losing part of the benefit because of other insurance.
