Armed Forces
Introduction
Apart from the obvious risks associated with warfare, military service is associated with a higher risk of disability and death due to numerous risk factors.
An Armed Forces Questionnaire (AFQ) is required for all service personnel including Army, Royal Navy and Royal Marines, Royal Air Force and Territorial Army.The AFQ is integrated into the Interactive Underwriting application and therefore an additional questionnaire is not required if the application is submitted via this route.
Life Policies
Life cover, in all its various forms, is available to the armed forces.
Certain occupations may attract premium loadings; e.g. those who work with bomb disposal, diving, aviation.
Policies do not usually exclude war risks.
Many insurers will not accept proposals from forces personnel at the time of being under orders to go to areas of high risk, although it depends on the precise circumstances.
Legal & General will consider mortgage cover for services personnel who are under orders, on stand by or on active duty to a high risk country. For countries that would otherwise be declined (e.g. Gulf countries) an extra premium is charged for one year.
Non mortgage cover will be declined until your client is back in the UK.
Mortgage and Income Protection, Critical Illness Cover and Waiver of Premium
These policies sometimes carry war risk exclusions – refer to individual product technical guides.
Ministry of Defence Schemes
The Ministry of Defence (MoD) has an armed forces and a war pensions scheme that pays out on death or disability. The amount varies depending on the length of service, rank, level of disability etc.
The MoD also has a scheme for refunding additional life insurance premiums charged because of the forces occupation. The details are not straightforward and have various exceptions, but in general terms the MoD will refund 90% of any additional premiums for sums assured up to £130,000
(Reference – www.army.mod.uk)
