It is always considered worthwhile for individuals in the armed forces to have some sort of life cover as their occupation is very risky. They must have financial security for their loved ones in case of any mishap while they are out serving their country. While armed forces may be one of the riskiest occupations, life insurance policies are still available to all individuals who serve in the military services.
The life insurance is made available to all armed service members be it the Royal Navy, Royal Marines, the British Army or RoyalAir Force and can even be available for individuals who serve in high-risk zones such as Afghanistan and Iraq.
Armed Forces and Life Insurance
The cost of your life insurance will largely depend on the roles you play in the armed forces. The costs are likely to be higher for professionals who are in the front foot like soldiers, pilots, commandos and divers. Insurance can be available under close to standard terms for individuals who work as medics, chefs, engineers and technicians in the armed services.
The exact rate of premium will solely depend on the underwriting for your particular insurance application. You must be at your best of health at the time of your insurance application to ensure that you get the insurance at the best possible rate of premium.
If you have any pre-existing medical condition the cost of your insurance is likely to increment or the insurance company will simply exclude that particular condition from your policy and will not cover you from that medical condition.
To ensure the underwriters calculate the risk properly they will ask you a couple of questions which will include but are not limited to the following:
- Your role in the armed forces (your designation and job description)
- Your service details
- The details of your deployment and the risks involved especially with the location of deployment
- Your current health state
Other than the above-mentioned factors your insurance cost will depend on the cover amount to avail the insurance for, the type of cover you desire and the term of the cover.
We would recommend you to talk to one of our advisers for life insurance quotes.
Any quote that your adviser provides you with will take into account your circumstances, your medical history, as well as your budget!
Call 011-3733-4610 – Monday to Thursday from 11.00 to 19.00 and on Friday between 11.00 and 16.00