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Armed forces life insurance 'inadequate'

Posted on 5th October 2007

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An expert has said life insurance provided for those serving in the armed forces can be inadequate for their needs.

Steve Couch, independent financial adviser with Trafalgar Mortgage and Financial Services, said the Ministry of Defence operates with company Sterling Life to offer Service Life Insurance but that it fell short of many members' needs.

He said there are specialist companies which offer accident insurance designed for forces personnel who are likely to face deployment into hostile areas.

Among more traditional providers, however, if a person "has been told they might or there is a possibility that they may deploy this will often result in cover being refused", he said.

Mr Couch added many civilian occupations were hazardous and yet they were not "penalised" like members of the forces.

The Defence Analytical Services Agency reports that on July 1st there were a total of 183,530 people serving in the armed forces. During 2006, a total of 190 deaths occurred among regulars, 95 due to accidents, 40 to sickness and 49 to violence.

So what is SFS Group doing to solve that gap?

SFS Group has been providing life and critical illness insurance for armed forces' parents whose children are at independent school since 1990 without any hassle and without any discrimination in treating them differently to civilians.

To us, it does not matter whether you are Special Forces, Logistics, Aircrew or a Nuclear Submariner. Nor does it matter to us if you are serving in Bulford or Basra , Hounslow or Helmand. It does not affect your premiums.

There are no pre-medicals and no lifestyle questions about booze or cigarettes – the only declaration you need to make is any pre-existing medical conditions that you have had in the last 5 years.

So long as your children are in independent education when you join the scheme, it will pay all school fees up to their l8th birthday, if the insured member of the armed forces dies.

The cover is provided whether that death occurs on operations, in a road traffic accident or through a terminal illness.

The school fees even go direct to the school, so that the remaining parent is not bothered with all the administration. We take care of that. Peace of mind in an uncertain world.

How do armed forces personnel sign up?

All you do is click on this link, select the level of cover you require against your age and fill in the electronic form. You do not even have to tell us your occupation, but if you do, it helps us to keep our products and services relevant to your needs.

Alternatively, you can ring our number between 0830 and 1730 hrs Monday to Friday and ask for an application form to be sent to you or email us at info@sfs-group.co.uk for more information.

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