"But I Just Overhauled My Engine."
It's amazing how good humans are at forgetting painful experiences. Though it probably is not in any textbook, we like to call this (as it refers to airplane owners) as "ownership amnesia." As owners, we like to only remember the good experiences of ownership, and forget the bad parts.
So, when it comes to your engine, it's a natural response to quickly forget the pain of unexpected (and expected) expenses and remember smooth flying. And, although this thought process can make people feel better about their ownership experience, it work against them when it comes to beginning the process of preparing for the next liability.
We hear from people all the time that they just "completed their overhaul," and likewise do not need a program developed for them by Gemco. Our response is simple: you need Gemco programs now more than ever. It is vitally important that owners don't just shrug off their last overhaul (or catastrophic repair), and take action to prevent being left out in the rain in the future.
Right after completing an engine overhaul, an owner should immediately begin the enrollment process of their engine on the Overhaul Savings program offered. The key to the Overhaul Savings program is that you need time to build equity. Just like retirement, time is your greatest ally, and your greatest enemy when saving for these future events. By waiting, and putting hours on your engine, you're delaying the buildup of equity, and instead allowing the liability to accrue. This liability will result in a large lump sum payment, or a pro-rating of any program you decide to enroll in. Hourly engine programs are designed to provide you a method of saving for large expenses through manageable payments at equally spaced intervals. Delaying enrollment is counterproductive to the cause.
Our Unscheduled "Catastrophic" program plays hand in hand with the Overhaul Savings program. By enrolling early, you protect yourself from the possibility of a premature overhaul. If you delay enrollment here, you will forget to do it in the future. This is not conjecture. We get a massive amount of calls from people who have just suffered from a catastrophic engine failure, and now are looking for some method of easing the financial pain they feel. All we can say is "now would be a great time to seriously consider enrolling your next engine on a Gemco program."