Accident and Life Insurance forms

Discussion in 'Army Reserve' started by Cardinal, Apr 26, 2011.

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  1. am I reading more into this than there is? It appears that we have to get our own life and accident insurance because we are no longer covered whilst training by the MOD.

    I always understood that we were covered by the MOD for accidents/incidents that took place whilst training, was I wrong and has this now changed? If reservists are no longer covered are regulars?

  2. Reading into what, exactly?
  3. The SLI form which tells us to go get insurance and goes on to explain that reg's get some sort of cover at pension rate (but that does not apply to us? since we dont get pensions)

  4. You're reading too much into this, you are not "no longer covered" - these forms have been around a while, but since they're mandated as part of the SPS Management Checks (zzzzzzzzz) now (and people are actually starting to do the man checks heh) you might not have seen one.

    You can never have too much insurance in a job like the Army, this form is to encourage you to "review and consider (your) life and personal accident insurance requirements.
  5. You can never have too much insurance.... But if you have to make a claim the insurance company will check every record in existence and if you have any other kind of cover (credit cards, household insurance etc) that deals in any way however trivial in any way possible with your claim there may be a bun fight before you get paid out whilst they decide who will pay what.

  6. Not so. Generations of insurance salesmen have paid off their mortgages by selling life assurance products to young men with no dependents.

    What you need depends on your circumstances, any decision to spend good money on any insurance product should take into account what is provided by the employer in the event of death or injury. It's easy to scoff at the MoD, but death in service and accidental injury provision is pretty generous by civilian standards. You may chose to buy more cover, but make sure you know what you already have first.
  7. What I was actually going to say was that I suspect these forms are a back covering exercise by the MOD so that when some poor young guy dies in Afghan without anything above and beyond the "basic Army cover" like PAX etc, their parents can't say "he was never told about insurance" etc, however I chose not to say that over DII! ;d
  8. Sure agree with the point you're making. But don't forget that pax is a commercial product, endorsed by the MoD and is additional to AFCS, death in service benefits etc.
  9. Not to forget expensive......

    edit; I meant something above and beyond the basic army cover, ie pax. Not Pax is the basic army cover...
  10. The_Duke

    The_Duke LE Moderator

    PA and other stated benefits policies such as PAX, SLI etc do not work on the "contribution" system which eodmatt is discussing. Capital sums on stated benefits policies are paid in full in the event of a valid claim, without regard to any other policies held.
    This is different with salary protection or property insurances where the total amount paid out should not exceed the salary or value of the item, and insurers will always seek to devide the claim between all insurers who have an interest.

    Whether you need PAX, SLI or any other military specific policy is driven by your circumstances - seek advice if possible, and certainly read the policy in detail before you buy. They do however guarantee cover for military activities which most standard policies do not.
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