Life Insurance

Discussion in 'Finance, Property, Law' started by bdfl1975, Nov 5, 2008.

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  1. Hi all,

    Just a question about life insurance as I'm going to need it very soon.

    Ive got my kit insurance with Forces Finance, Is there Life insurance any good? Been told to avoid Towergate as there not meant to be very good.

    Could anybody recommend any company's for me that they have used.

    Thanks for any help
  2. BiscuitsAB

    BiscuitsAB LE Moderator

    depends what you need it for? ie family protection or mortgage protection.
  3. I'm on Herrick 10 next year and basically need it to cover me while im out there.
  4. BiscuitsAB

    BiscuitsAB LE Moderator

    If your already had notice to deploy then there are very few companies that will cover you although their sales reps will flog you a policy. Just dont expect it to pay out!

    your best bet is

    Maximum cover is £200,000 and max term is 25 years.

    Steling life brought this contract out inconjnction with the MOD so the terms and conditions are suitable even though the levels of cover aren't that high.
  5. Whats the view on PAX insurance as 1 of the lads has given me there brochure to look at.
  6. BiscuitsAB

    BiscuitsAB LE Moderator

    The key is in the name "personal Accident insuarance". To be honest for a short tour given the price of both respective contracts I'd take PAX and SLI and lapse them when you get back. That is if your only intention is to have cover on tour.

    If so you can Lapse both contracts without penalty to your self.

    PAX will cover for things like loss of limbs which unfortunately as we all know a possibility where as the SLI contract is Death only.

    So those two options are sound, there is one other company that will provide you with cover for a mortgage even if you've already had part ones to deploy. The rest will sell you a contract that is off little or no use so if you do speak to any other firm check the definitions or if you can't be arrse stick the name of the comapny and the contract on here and I'll tell you if its worth looking at. ( I've done a shed load of research into the area as I don't believe that the current offerings are getting out to the guys that need to know properly)
  7. Take a look at the sticky ‘What Type of Insurance do you need?’ for some background info on Life and Personal Accident insurance.

    As Biscuits mentioned it’s important to determine your specific needs, ie whether you are currently under orders, if you have dependents and/or a mortgage etc, so you can be both properly advised and then protected.

    You may find it useful to talk to a Forces Financial adviser as they are authorised under the Financial Services Authority to give you advice, rather than just process your application.

    Forces Financial is a trading name of Stuart Harvey Insurance Brokers Limited who is authorised and regulated by the Financial Services Authority. Registration number 301858. Registered Office: Globe House, 24 Turret Lane, Ipswich, Suffolk, IP4 1DL