Is Life Insurance right for me?

• The fact is you can’t always rely on being there for those who depend on you. That’s why if you are in the Army, Navy or RAF it’s important to have the right sort of Life insurance protection in place. Service Life Insurance (SLI) has been specifically designed to provide the cover required to suit the unique lifestyle of the Regulars or Reserves of HM Armed Forces. SLI will give you the security of knowing that you are covered whilst on active military duties, at home or abroad, regardless of your specialist trade or your likelihood to deploy. Even if you decide to leave the Armed Services SLI will continue to cover you for the same monthly premium.
• This product could be for you if you are a member of HM Armed Forces and want to leave a fixed lump sum if you were to die while the policy is in force. This amount should be based on the amount you need to help ensure your loved ones are financially secure if you die. It is your decision whether or not to take out this insurance. The Ministry of Defence cannot accept liability for any insurance you take out.

Service Life Insurance

• SLI is designed to pay out a one off cash lump sum if you die during the duration of your policy.
• It provides 24/7 cover worldwide for war & terrorism risks whilst you are a regular or a reserve on deployment in the Armed Forces.
• All special trades are covered at no extra cost.
• You choose the amount of cover you need and how long you want to be covered, and then pay a set amount every month. The amount you pay does not change throughout the duration of the policy.
• The lump sum paid out remains the same throughout the duration of the policy.
• The policy will continue if you leave the Armed Forces during the duration of the policy, but the cover for war & terrorism will no longer apply.
• This type of cover also pays out if you are diagnosed with a terminal illness (We will not pay the benefit for any terminal illness that is diagnosed less than 12 months before the end date of your policy).
• The policy only pays out once, so should the policy pay due to a terminal illness claim, the policy and cover will then end. This policy has no cash in value at any time.

Features

• It's flexible to meet your needs - you decide how much cover you want up to £200,000 and for how long (between 5 & 25 years).
• Monthly payments stay the same throughout the policy.
• The lump sum paid out is usually free of personal liability to income tax and capital gains tax.

• As with any life policy, there are certain terms and conditions that apply. Full details can be found in the Key Facts or Policy Documents – just check on the link.
• The most important are:
• In the first 24 months of the policy we will not pay if your death or terminal illness results from a pre-existing condition.
• In the first 12 months of the policy we will not pay if your death is as a result of suicide or self-inflicted injury.
• When you cease to be a regular or reserve we will not pay if your death is as a result of war or terrorism.

What's the next step?

• Work out how much Life Insurance Cover you need and click the ‘Apply Now’ button at the top right of this page to begin your application.