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Exclusively for Baymac Professional Pilots Group—UAE Plan

Loss of Income Protection Plan

3Coverages, terms, conditions and exclusions subject to policy document.

TABLE OF CONTENTS

OVERVIEW 4

PLAN ELIGIBILITY 5

KEY BENEFITS 6

SUMMARY OF BENEFITS 7

ENROLLMENT 8

FREQUENTLY ASKED QUESTIONS 9 - 11

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OVERVIEWBaymac has partnered with Clements Worldwide to provide world-class insurance solutions to its members. The Baymac Loss of Income Protection Plan, under insurance with Lloyd’s of London, is a comprehensive disability insurance plan specifically designed to meet the needs of professional pilots globally.

Union Insurance provides a comprehensive range of retail and commercial insurance products to clients in the UAE and the Middle East region.

About the Baymac Loss of Income Protection Plan

Many standard income protection plans fall short in meeting the needs of pilots. The Baymac Loss of Income Protection Plan has been specifically designed to address the unique needs of pilots with a focus on those who are part of the global community.

Our plan incorporates many of the features of a conventional loss of license plan but removes the requirement of loss or suspension of your license or medical certificate. In addition the program offers pilots options for waiting periods and three levels of cover to tailor the policy to meet the financial needs and challenges they may face in the event that an illness or injury interrupts their ability to work.

Coverage options include Permanent Total Disability (PTD) which provides a lump sum payment in the event the pilot is unable to fly again and Temporary Total Disability (TTD) providing a monthly benefit where the pilot is temporarily unable to fly due to an illness or injury; or both.

5Coverages, terms, conditions and exclusions subject to policy document.

PLAN ELIGIBILITYThe Baymac Loss of Income Plan is exclusively available to members of the BaymacProfessional Pilots Group. To be eligible for enrollment, members must meet the following criteria:

• Must be actively employed as a pilot at time of enrollment

• Must, hold a valid Commercial Pilot’s License (CPL) or Air Transport Pilots License (ATPL)

• Must have a valid medical certificate issued by an aviation medical practitioner (AME) approved by the licensing authority for the CPL or ATPL held.

• Must hold active Baymac membership

• Must be a UAE resident

Coverage Options, Limits and Membership Status

Pilots are eligible for both Permanent and Temporary Total Disability coverage.

Pilots aged 60 or over are not eligible for Permanent Total Disability (PTD). Pilots aged 65 or over are not eligible for Temporary Total Disability (TTD).

To maintain policy coverage, participating members of the Baymac Professional Pilots Group must have their membership status up to date and in good standing.

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Permanent Total Disability Coverage Highlights:

1. This program offers pilots financial coverage in the event of disablement preventing you from performing the duties of your profession.

2. Provides a lump sum payment of 5 times your gross annual salary from your own occupation, including any additional allowances and benefits and any other income earned from your normal work activities, or a maximum of USD 750,000, whichever is lower.

3. No medical underwriting or medical tests required for eligible pilots.

4. Flexible payment options.*

5. Choice of waiting period based on your coverage needs.

6. Quick and easy online quoting available.

7. Simplified application process.

8. No exclusions for war and terrorism.

Temporary Total Disability Coverage Highlights: 1. This program offers pilots financial coverage in the event of disablement

preventing you from performing the duties of your profession as a pilot.

2. Provides a monthly benefit of up to 60% of your gross annual salary from your own occupation, including any additional allowances and benefits and any other income earned from your normal work activities, or USD 20,000 whichever is lower.

3. Benefits up to 5 years.

4. Flexible payment options.*

5. Choice of waiting period based on your coverage needs.

6. Quick & easy online quoting available.

7. Simplified application process.

8. No exclusions for war and terrorism.

*Credit card payments are subject to a 3% feeCoverage highlights are subject to policy terms, limits and exclusions.

KEY BENEFITS

7Coverages, terms, conditions and exclusions subject to policy document.

SUMMARY OF BENEFITS*

* Summary of Benefits subject to policy document

Permanent Total Disability

Benefits Payments Lump Sum of USD 750,000 max or 5 times your pre-disability earnings including benefits (whichever is lower)

Eligibility Actively at work pilot with CPL or ATP license.

Waiting Period Choose between 6 months – 60 months

Pre-existing Conditions

If symptoms were present and/or medical advice or treatment was recommended by or received from a physician or other

health care practitioner at any time during the thirty (30) month period preceding the inception date of this policy that

condition is not covered.

War and Terrorism Covered

Temporary Total Disability

Benefit PaymentsTotal monthly payment of up to 60% of pre-disability

earnings including benefits or USD 20,000 (whichever is lower.)

Eligibility Actively at work pilot with CPL or ATP license.

Waiting Period Choose between 30 –365 days

Benefit Period Choose between 12 – 60 months

Pre-existing Conditions

If symptoms were present and/or medical advice or treatment was recommended by or received from a physician or other

health care practitioner at any time during the thirty (30) month period preceding the inception date of this policy that

condition is not covered.

War and Terrorism Covered

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ENROLLMENTExisting Baymac Professional Pilot Members

For existing Baymac Professional Pilot Group Members, complete the online Baymac Income Protection Application form at: www.baymac.net

After enrolling online, you will be informed whether your application has been accepted or if additional information is required. Once accepted, payment may be made by credit card or wire transfer.

For payment details contact Union Insurance at 971 4 378 777 or via email at ChloeR@unioninsurance.ae Sunday through Thursday 8:30am to 5:00pm.

Non-Members

The Baymac Income Protection Plan is available exclusively for Baymac Professional Pilot Group Members. Pilots holding a valid Commercial or Airline Transport Pilot License are eligible for membership of the Baymac Professional Pilots Group. Complete the Baymac Professional Pilot Membership Online Application at www.baymac.net and submit payment for membership fees as provided in the Application Form.

On acceptance of your application, you will be provided with a membership number that will be required for each applicant wishing to purchase the Baymac Income Protection Pilot Plan. Membership is confi rmed once your payment has been received and your application approved.

For non-members interested in knowing more about the Baymac Income Protection Plan, contact Baymac at 971 55 111 3674 or via email at info@baymac.net.

Renewals

The Baymac Income Protection Plan is renewable annually. Renewal is subject to continued eligibility.

Filing a Claim

Submit claims through the mail or email to Union Insurance within 20 days.

For questions and concerns contact Union Insurance at 971 4 378 777 or via email at ChloeR@unioninsurance.ae Sunday through Thursday 8:30am to 5:00pm.

9Coverages, terms, conditions and exclusions subject to policy document.

FREQUENTLY ASKED QUESTIONS*1. Who is Union?Union is the local insurer issuing the policy within the UAE.

2. What role does Clements Worldwide have?The protection offered under reinsurance through Lloyd’s of London through Clements Worldwide. Clements Worldwide is a trading name of Clements (Dubai) Limited. Clements (Dubai) Limited is a DIFC-based wholly owned subsidiary of Clements Europe Limited and is authorised and regulated by the Dubai Financial Services Authority to conduct insurance mediation activities.

3. Do I have to lose or have my pilots license medical suspended before I can claim?No. The plan has the advantage of not being a conventional loss of license plan and is therefore not predicated on the loss of your pilots medical or license. Regardless of the validity or status of your pilots license or medical certificate, provided you are declared totally disabled due to an illness or injury by a registered medical practitioner, the policy will pay the benefit amount on completion of the selected waiting period..

4. What does Total Disability mean? Total disability means that you are disabled to the extent that you are either temporarily or permanently unable to work in your profession as a pilot. Temporary Total Disability (TTD) means that you have a temporary disability that renders you incapable of flying temporarily. Permanent Total Disability (PTD) means that you have a disability that renders you permanently incapable of working as a pilot.

5. Who determines that I am totally disabled?A registered medical practitioner must declare that you are totally disabled due to an illness or injury.

6. What is a waiting or elimination period?The waiting period is the time between the date when the accident occurs or the sickness

manifests and the commencement of payments of benefits under the policy.

You may select your desired waiting period when obtaining a quote or applying for the policy e.g. 30 days, 180 days, 365 days etc. A longer period will usually result in a lower premium.

7. Who pays for additional underwriter required tests and/or transportation needed to travel to undergo the additional tests? The policy will cover any medical diagnostic / exams costs incurred for establishing of claim or diagnostics tests for determining disability subject to underwriters approval. It will not cover any ongoing medical care costs - only tests to determine the claim and extent of disability on ongoing basis. It will also cover any transportation costs but only where the underwriters disputes a claim and requires the insured to travel to some specific clinic or doctor to undergo tests to verify illness/injury.This would only be applicable where travel is at the underwriters request and with their prior approval.

The policy will not cover any tests done at inception for policy purchase or for any transportation costs to medical facilities for tests to establish disability. In addition it will not cover any medical evidence required for claim initiation as the claim would be triggered by an injury / sickness total disability that has already been medically diagnosed and established.

8. What is the frequency of PTD pay? If you are determined to be permanently disabled the PTD benefit will be paid in a lump sum.

9. What is the frequency of TTD pay? If you are determined to be temporarily disabled through an injury or illness the TTD benefit will be paid monthly.

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FAQ (CONT.)10. When will the PTD benefit be payable?The PTD benefit is a lump sum benefit paid when you can no longer perform your duties as a pilot for the remainder of your life. The PTD benefit will be paid upon exhaustion of the TTD benefits purchased and/or after the PTD waiting period or 12 months.

11. If I claim for 6 months on TTD and return to work and then suffer a subsequent illness/injury within the current policy period, is the total available benefit reduced by the benefits previously paid?Provided the subsequent illness or injury is unrelated to the previous condition you will be entitled to the full cover provided under the policy. If the subsequent illness is related to the same condition (a recurring condition) for which a benefit was previously paid occurs within 60 days then the payments will resume. If the subsequent related illness recurs after 60 days then a new elimination period will commence. After the elimination period, you will be entitled to the full benefits originally selected under the policy.

12. After becoming permanently disabled and no longer able to fly commercially again but able to work in a non-flying position e.g. as a flight simulator or ground instructor, would the policy benefits be payable? Yes, the policy will pay the benefit as you will be unable to perform your major duties pertaining to your occupation as a pilot.

13. What happens if I recover from a permanent disability and am able to resume my flight duties as a pilot again?If you fully recover from your permanent disability and are able to resume your duties as a pilot, you will be required to repay or refund all monies paid to you by the underwriter. This is only applicable to a lump sum benefit paid for permanent disability (PTD) and does not apply to a temporary benefit (TTD) which has been paid.

14. If I hold more than one pilots license and I am declared disabled in one country but

considered fit to fly in a second country in which I hold a license, will I be compensated?The policy is not a loss of license policy so it is only necessary for medical practitioner to declare you disabled as a pilot to receive a benefit under the policy.

The policy provides a disability benefit in the event of an illness or injury that prevents you from working as a pilot regardless of the status or validity of your pilot license or medical.

If you have multiple licenses and would like to have income protection to cover you only for the country in which you are exercising the privileges of your license please contact Baymac for possible options to obtain a “loss of host country license”. These are available to pilots working in limited jurisdictions e.g. China, Hong Kong, Macao.

15. Will benefits be paid for termination of employment?Benefits are not payable for termination of employment. Benefits are only paid for loss of income due to an injury or illness resulting in the pilot’s total disability, regardless of the pilot’s employment status.

16. Is my temporary loss of income benefit reduced by other insurance or other benefits I receive for loss of license or other similar sick benefit?Yes. The Underwriters will not pay more than 60% of the Pre-disability Earnings of the Insured Person in respect of Total Disability monthly benefit less any amount received as Sickness benefit under any state or privatescheme or insurance from any source.

If you have API/LIPS the Underwriters will not pay more than 60% of the Pre-Disability Earnings of the Insured Person in respect of Total Disability monthly benefit less any amount received as Accident and / or Sickness benefit under any state scheme or insurance from any source, except in the case of Pilots employed by air carriers in the United Arab Emirates who participate in a Mutual

11Coverages, terms, conditions and exclusions subject to policy document.

Benefit Fund or Aircrew Protection Scheme. In such instances after the Insured Person has received a benefit from such Mutual Benefit Fund or Aircrew Protection Scheme, this policy will pay the difference between the amount received and the Total Disability monthly benefit covered under this policy, up to a maximum of 100% of the Pre-Disability Earnings in all but always limited to a maximum of 60% of the Pre-Disability Earnings of the Insured Person being collectable under this policy.

17. Is my benefit reduced by other income I receive while not flying?Many loss of income plans reduce the benefit received from any other source or form of employment. This policy is based on “own occupation” which means the benefit will not be reduced by income earned in other occupations.

18. Is my permanent loss of income benefit (PTD) reduced by other insurance or other benefits I receive for loss of license or other similar sick benefit?No, your benefits are not reduced by other amounts paid.

19. What happens if my employer does not agree that I should be paid a sick benefit?Unlike some mutual benefit schemes which will only pay if your company agrees that you should be entitled to a loss of income benefit e.g. API/LIPS, the Baymac LOI plan covers you on the basis of a declaration by a medical practitioner that you are disabled. Employers do not participate in the decision made by professional medical practitioners, nor are benefits under the Baymac plan subject to employer approval.

20. If several pilots get disabled in the same year will I still get paid?Yes. The policy is not a mutual benefit scheme and is underwritten by a Lloyds of London coverholder.

21. What is excluded from the policy?Injury or illness as a result of drugs or alcohol, criminal acts, military service or active participation in war are excluded, as is any

injury or illness as a result of nuclear, chemical and biological terrorism. Nuclear or radioactive contamination is also excluded. Any intentional self-inflicted injury, attempted suicide, mental disorders, or pregnancy are not covered. Riding or driving in any kind of race or endurance test or traveling in aircraft for any purpose other than transportation is excluded from coverage. There is a limited pre-existing exclusion clause.

22. What is the pre-existing condition exclusion?Any condition for which a person would have or should have sought treatment for in the 30 months prior to the effective date of the policy is excluded.

23. Are adventure sports excluded from the policy?Adventure sports are not excluded but coverage is excluded for riding or driving in any kind of race or endurance test.

24. In the event of my death will my beneficiary be compensated?This policy is not a life insurance policy and therefore no benefit will be paid to beneficiaries.

25. Can I include other benefits other than my gross salary under TTD?Yes, all income and benefits earned from your profession as a pilot including allowances for housing, education and transport, pension or provident fund contributions may be included into the calculation of your gross salary.

26. What about investments and similar benefits to my income?Any other income from non-flying activities such as dividends, interest, rents, estates etc should not be included in the calculation of your gross salary for the purposes of the policy.

27. What is the medical review process if my claim is in question?If a claim is in question, the underwriter will require updated/detailed medical reporting or new medical testing. All claims are determined on a case by case basis.

FAQ (CONT.)

Union Insurance Company (P.S.C.) is licensed by the UAE Insurance Authority (Registration No 67) and listed on the Abu Dhabi Stock Ex-change. The corporate offi ce of Union Insurance Co., (P.S.C.) is at 12th & 13th fl oor Single Business Tower Sheikh Zayed Road P.O. Box 119227, Dubai, UAE

Baymac is the trade name of Baymac Management Services Ltd., an international aviation management consultancy fi rm consisting of avia-tion professionals including international aviation consultants, airline managers and pilots, who specialize in providing turn-key management solutions for companies and individuals within the aviation industry. Baymac is not an insurance company or broker, nor does Baymac provide insurance, fi nancial or investment advice. These services are provided to members by highly regulated organizations licensed to do so in the relevant jurisdictions. Baymac’s Professional Member Services are only available for paid up members.”

Clements Worldwide is a trading name of Clements (Dubai) Limited. Clements (Dubai) Limited is a DIFC-based wholly owned subsidiary of Clements Europe Limited and is authorised and regulated by the Dubai Financial Services Authority to conduct insurance mediation activities.

Copyright © 2015 Clements Worldwide. All Rights Reserved.

#PS-40 12/4/15