TA and Income Protection

Discussion in 'Army Reserve' started by TopBadger, Oct 13, 2010.

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  1. I'm looking at Income Protection policies, and either insurance companies won't touch the TA, or they force an exemption on the policy. So, if for instance I injured myself on a TA weekend that then stopped me attending to my full-time job they wouldn't pay out for loss of earnings from my civilian job.

    In this case, does the MOD pay out whilst i'm convalescing? If so at what rates, or would I genuinely be without financial cover during that period?

    Clearly, i'd like to be fully aware of the financial implications of being injured on part-time service... all (sensible) answers appreciated.

  2. Ask an IFA.
  3. I've just been doing this, and had to speak to my RAO to confirm a few things but your answer is yes with caveats. The caveats are all quite sensible in terms of were you on duty, rather than out on the lash etc, etc - you get my drift.

    Always worth speaking to an IFA about this - the annoying thing as far as I was concerned was that I couldn't get them to insure my full earnings ie Main pay & TA Pay as they would only pay out for the primary income. So next task is to see whether I can income protect Part time casual earnings or not - but I'll wait till after next week before I put any effort into that.
  4. If you are injured whilst on duty with the TA you would be eligible for Disablement allowance paid at your TA daily rate of pay for the duration of your injury (as certified by your GP).
  5. BB.... Ask an IFA? My IFA asked me to find out what cover the MOD would provide, if any. They don't know MOD policy.

    Zenith... cheers buddy, yes with caveats is fine by me. Happen to know what level of cover they provide? Is it a % of civilian pay?
  6. Its based on Mil pay? Really? Thats shit, i'd need to be about 9-10 ranks higher than I am for my TA pay to match my Civi pay, my TA pay isn't expected to cover my mortgage.

    So, if the Army 'broke me' then i'd fall behind on mortgage payments and possibly lose my house. Thats nice to know eh? Maybe next time i'm faced with an Assault course i'll tell the PTI I can't do it due to the financial risk involved...
  7. I was involved in an RTA whilst on a TA course and the Army paid me a days pay for every day I was off sick including weekends it was called Disablement allowance but it took a long time for any of the money to hit my bank account and it was a lot less than my civi wage at the time
  8. Some might say your a teeeeeny weeeeny bit up yourself, mate. You earn lots? Good for you.

    The MoD employs soldiers. Get injured on duty, they'll pay you daily rate. Why on earth should they pay you more just because you have a big mortgage and Earn Lots Of Munnie.

    If thats not good enough for you phone the Samaritans and see if they give a ****.
  9. With that financial level of literacy you should work at main building. The point is that a regular LCpl will have living arrangments (mortgage/rent, whatever) roughly comensurate with their salary, so getting injured on LCpl pay isn't a big deal for them, they'll be able to pay the bills before and afterwards.

    However, if TA LCpl Bloggs is in a well paid civi job, dropping to LCpl pay for a stretch in the case of a long term injury would be financially crippling; as we're all told, don't rely on your TA pay... but that mantra goes out the window if injured when by the look of it it would be the only pay you'd get.

    All of which seems to suggest that those in the TA whose civi job pays them more than their TA role (I can't be the only one) should either drop out of any training where you could do yourself some serious damage (e.g. OBUA Confidence Courses, etc) or leave the TA.

    But hey, if you're lording it up in the TA because you haven't got a career outside it then I wouldn't expect you to understand.
  10. And in a lot of cases BB, the MOD employs soldiers, where the skill set of said (TA) soldier just simply isn't available in the regular army. The MOD paying a daily rate, is fine, but at TB says, the TA (as an injured civvy) then takes something of a hit.

    Of course over a period of time, I guess the "uniquely skilled TA soldier" might be better off, simply signing out of the TA and serving in foreign climes through one of the third party contracts that HMG pays out for. Funnily enough, HMG offers mortgage protection for those employed in this way.
  11. I believe you would also be entitled to claim under AFCS, though you'd have to check the details of payouts for specific injuries sustained.
  12. Also have you looked at Service orientated companies: XPAX, SLI, Towergate Wilsons, Abacus, etc all have policies which cover you on duty to varying degrees (though you'd have to check the details to see whether loss of income would be included to make up the difference between your civ wage and the rate of disablement you would be granted).
  13. Sniggers..........
  14. ^ as BB hasn't been back to this thread maybe I touched a nerve?
  15. So; get promoted to a level commensurate with your gargantuan civvie earnings - Field Marshall, or Queen maybe - or see an IFA.

    Well if the TA scares you, perhaps you should take up something less horrid? Or see an IFA to insure against injury.

    I think you're too Important for the TA. Avail yourself to Obama and sort out the Middle East, find a cure for cancer, or something that befits your status. Dunno what you'll do after lunch, but I bet it'll involve looking in mirrors.