Saturday, May 25, 2013

What Do Flying Risks Mean? (part 1)

Nervous airline passengers don’t understand that all travel is risky and safety is a matter of relative risk. In other words, an activity is usually considered safe only as contrasted with some other activity. Absolute standards of safety are hard to establish…and are often more
arbitrary than most people realize.

A few basic measures can improve your odds of surviving an airplane flight. These include:
  • stick with commercial airlines;
  • make your trips long ones;
  • don’t fly in bad weather;
  • avoid high-traffic or high-risk airports; and
  • pay attention to instructions you get on the plane.
Of course, none of these guarantees you a perfectly safe flight; and it’s hard to follow a set of “basic measures” when you plan a trip and have to rely on others to get you there.

When you have to get from Point A to Point B, you rarely set out to do so with a set of precautionary guidelines. You simply try to get to point B the quickest and cheapest easiest way you can. Think about driving to work; if you have to be there by 9 A.M., you drive during the riskiest time of the day—when everyone else is commuting to work.

So, flying on commercial airlines—and even on commuter airlines— is safer than most people think. And it’s safer in many cases than driving the same distance. But how do you protect yourself against even this relatively reasonable risk?

The aswer is Life insurance. This is because Life insurance can serve many purposes; the simplest is to replace the earning power that you offer your family or other interested parties (business partners, etc.). In this context, life insurance protects against precisely the sort of catastrophic loss that an airplane wreck poses.

Also read: What Do Flying Risks Mean? (part 2)

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