Claiming back of extra loading on life insurance?
Thread Starter
Join Date: Jul 2008
Location: ni
Posts: 4
Likes: 0
Received 0 Likes
on
0 Posts
Claiming back of extra loading on life insurance?
Hello, I was hoping somebody could point me in the right direction of claiming back the extra loading on aircrew life insurance. I was told this was possible when I took out my policy last year. I enquired about this in my UPO but it only brought about a blank look. Thanks for any help.
Join Date: Nov 2009
Location: Great Britain
Posts: 163
Likes: 0
Received 0 Likes
on
0 Posts
I claimed a few years worth last year and I am fairly certain it involved a trip to PSF and some old fashioned though straight forward paperwork. You need a document certifying the extent of the 'loading', which my financial advisor sorted for me. Which again semi confirms the process of claim and audit in a oner.
Join Date: Apr 2001
Posts: 19
Likes: 0
Received 0 Likes
on
0 Posts
The process used to be done on JPA and was actually very simple, especially as it automatically re-submitted 12 months later. Now you fill out a SRIPS form from PSF. The form is quite simple but 'needs' to be signed by a rep from your insurance company to confirm the validity. You are entitled to a 90% refund of the additional premium you pay for service risk. Ie if you were a civvy and paid £100 per year and then paid £150 once in the forces, you can claim back £45. You now have to claim yearly and it is given in your pay.