Having life insurance is probably something that you place a lot of importance on if you are a member of the British armed forces. However, it’s probable that your occupation risk is higher than that of other non-military workers in the UK, making it more challenging for you to obtain the necessary life insurance coverage at a price you’re comfortable with.
Sports Financial Services have developed an expertise in providing people in high-risk occupations and sports with life insurance, critical illness cover and income protection cover.
What are the benefits of having British army life insurance?
British army life insurance can assist you to ensure that your family and dependents will have some level of financial support. You may want to obtain your own life insurance policy, while you’re in the military, even if your employer offers death in service benefits. By doing this, your spouse or partner will be aware that they have backup plans in place in case the worst happens.
If you would like to know in more detail about how British army life insurance can benefit you, get in touch with us at Sports Financial Services today, to speak to one of our advisers.
What information will I need to disclose to obtain British army life insurance?
When applying for British army life insurance cover there will be different things you will have to disclose to us. Here are some of the things that could potentially affect decisions about the cover options available to you:
- Your age
- Your current health and family health history: This could include questions about smoking, alcohol consumption and lifestyle
- The length of coverage and the type of cover (e.g., fixed rate or index linked)
- How much cover (£) you require
- Whether you travel abroad to engage in your occupational activities
What is the difference between critical illness cover and income protection cover?
Critical Illness Cover:
Critical illness cover is a way to cover specific illnesses or medical conditions that might disrupt your life, family and finances. Anyone who takes part in hazardous activities and enquires about critical illness cover will have their enquiry assessed against the activities they pursue. Cover for different types of activities will be assessed differently.
Cover for some sports and occupations can be offered at standard rates with no special terms imposed whilst participation in other sports and occupations may result in premium loadings, special terms, restrictions or exclusions. Your sports and occupations specialist at Sports Financial Services will talk you through the options available to you.
Income Protection:
Another important cover to consider is income protection, particularly if you take part in hazardous activities. Income protection could provide you with peace of mind if you are unable to work due to injury or sickness.
If you have a loan, mortgage, credit cards, regular bills or family financial commitments then you may want to consider what would happen if you were unable to meet the payments because of a loss of income if you are unable to work.
Applications for income protection are dependent on many factors, for example, whether you have previously suffered any injuries as a result of your activities and whether they have caused you to have a significant amount of time off work.
Again, like critical illness cover, participation in some sports and activities may result in premium loadings, restrictions or exclusions. When you make an enquiry your adviser at Sports Financial Services will discuss your needs and the options available to you.
How can I get a quote for British army life insurance?
Because British Army work demands a certain level of technical skill and is undertaken in challenging environments, life insurance for British Army members can often require more specialist types of cover. Not only do we offer British Army life insurance, but we offer army reserve life insurance and life insurance for military members. If you would like to discuss life insurance, critical illness cover or income protection cover for British Army members you have come to the right place.
Sports Financial Services are a team of insurance specialists with many years of experience working with those who pursue hazardous sports and occupations. We know how important it is to find life insurance for armed forces at the right price. Please feel free to get in touch with us today, where you will be able to speak to one of our advisers, or contact us through our online form.
British Army Life Insurance FAQs
Can you get life insurance in the army?
Yes, you can absolutely get life insurance while serving in the army. In fact, members of the military often have access to a variety of life insurance options. It’s crucial to explore these options and understand the coverage to ensure you have the protection that suits your needs and circumstances.
How much does British Army Life Insurance Cost?
With Cover from Sports FS, the cost of life insurance starts from as little as £18.70/mth. However, this quote is based on a 30 year old, non-smoker for £100,000 level life insurance, £50,000 critical illness cover over 25 year term.