Life Insurance

[Ali Barber]

Can anyone help?

I've recently brought a house in the UK and I'm trying to set up a life insurance policy to cover the mortgage, but I'm still serving overseas. So far I can't find a life insurance company who will touch us because we are overseas, even though we are not "under orders" for Afghanistan or anywhere else unfriendly. I remember seeing something a few months ago about the PAX (or PACS - not sure how it's spelt or what it stands for) being suspended for new business because of the world situation.

Has anyone found any Ins Co that will cover for people based overseas? What is PAX/PACS? If I find anyone who will cover us at an increased premium, can I claim back the excess risks premium in the same way as the flying risks excess? I'd be grateful for any suggestions as Innsworth hadn't come across the probem when I spoke to them.

[Hezbollah]

PAX is personal accident/ life insurance currently provided by AIG Europe for the MOD, open to all serving/retired members of HM forces and families. You should be able to get an application form from your unit admin office or equivalent - monthly premiums come directly off your pay statement. Customer service helpline 0800 212 480. Good value - £16.50 for £100,000 of cover, and flying, small wars etc are covered (dont fight USA, France or ex USSR). I recently got £400 for breaking my wrist playing volleyball! Cheers easy!

[STANDTO]

Why not try that new setup, Moreth>n. I think thet are part of the Royal and Sun Alliance group. THe advertising seems to suggest they will go that extra mile. There is a website I believe

[Ali Barber]

Thanks Hezbollah and Standto. Standto, I'm not familiar with the advert or who the new setup is. Can you give a bit more information? Anything you remember will help and be much appreciated.

[STANDTO]

Try
www.morethan.com

that might help.

[doubledolphins]

Some chap from an organisation called "Affinitas" visited the ship the other day. Gave me a cigarette lighter, so I'll pass on his web site adress. www.affinitas.com. Try that. From what he said to us, they should be able to help.

[Proman]

My view is that Affinitas are creaming the top of the service. I wanted Life Insurance as a RAux AF Officer.

They wouldn't touch me as 'I'm part time', and then 'Because you don't get a monthly pay cheque'. I felt distinctly second rate. Either Affinitas do specialise in military insurance or they don't.

Same from NAAFI Finance.

Ironically civilian Life Insurers won't insure me because I work part-time in a military environment.

Stuffed!

[Charlie Luncher]

The cheapest life insurance is the Death in Service Benefit contact your admin wallahs and keep hitting them until they sort you out.

It is worked out as a % of your basic pay 0.37 I think and then split to be paid direct from your pay each month as an AVC. Roughly pays out about 4 X basic salary.
It will pay out if you croak whilst you hold an ID card, even if you hang yourself with telephone flex, with an orange in your mouth and dressed in stockings (for senior Bluebloods too).

If you have any snags getting your admin wallahs to do something useful e-mail me and Ill get you the gen.

I have mine running scared! :D

[Ali Barber]

Thanks for the advice everyone. I looked at Affinitas, but they do every kind of insurance except life ins. The PAX people are probably the best, but they are still closed to new business while the current world situation exists. I'll talk to my admin wallahs tomorrow about the death in service benefit (we have a different weekend out here). I may be getting somewhere with Scottish Provident through an outfit called Life Direct. They are a bit pricey, but when I explained the situation to Life Direct that I have been flying a desk for a few years now, they went back to Scot Prov and they waived the flying risks. They also don't seem concerned about being resident in the Middle East so fingers crossed.

Mrs Barber is on my back about the insurance and won't let me do anything dangerous (fun) until I get it sorted. Should I be keeping an eye out for strange men carrying violin cases?;)