Insurance
Personal Insurance
The Service currently makes provision for those who suffer injury or illness (or the dependants of those who die as a result), but experience has shown that this support rarely meets all circumstances - for instance when an injury happens off-duty. It is therefore essential that all Service personnel be encouraged to seek adequate private insurance to cover unexpected eventualities.
The decision whether or not or not to take out personal accident and life insurance is entirely an individual matter. However, everyone should be well advised to carefully consider the need for such insurance, particularly when they have dependants to provide for. In addition, it should be made clear that there is a need to regularly review life and accident insurance cover and not wait until times of crisis or war, as this could result in personnel not being unable to obtain the cover they seek.
On taking the decision to purchase appropriate personal accident and life insurance, the onus is on the individual to identify and select cover that best suits their particular needs.
However, attention is drawn to the Services Insurance and Investment Advisory Panel (SIIAP) whose members are regulated insurance and independent financial investment advisers who specialise in providing insurance and investment advice to members of the armed forces. The MOD neither endorses nor sponsors SIIAP or any commercial insurance scheme, but does facilitate the use of the PAX product through payroll deduction. Further information on SIIAP and PAX, is available through the SIIAP website.
www.siiap.org
| Back | Top |