Armed Forces life insurance

Depending on your position within the Armed Forces, there can be risks involved.

Positions in the military range from office based to combat. However it could still be possible to secure life insurance, even in a more high risk position.

Having adequate life insurance in place to protect your loved ones is essential. While it can't replace you, it can help protect your family’s financial future.

At Reassured, we can compare multiple quotes and help arrange life insurance for military personnel.

Our FCA-regulated broker service is completely fee-free; we compare quotes, free of charge, to find you the best deal we can offer.

Simply get in touch with our award-winning team.

Keep reading as we cover everything you need to know about military life insurance, including:

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Do military members have life insurance?

No, members of the military don’t receive life insurance. However, death in service benefit is provided as standard.

This is a pay out, equating to a multiple of your salary, which is paid to your loved ones upon your passing.

The amount your loved once receive will be determined by your time in service, rank and the cause of death.

However, even with this benefit, you may still benefit from additional life cover.

If you were to leave the Armed Forces, your death in service benefit would no longer be applicable, making the need for life insurance even greater.

Regardless of whether you leave the military, personal life insurance will stay with you until the term ends if you have term life cover or for the remainder of your life if you have whole of life assurance.

To ensure your loved ones are protected, regardless of what the future holds, contact our team for your free quotes.

What is military life insurance?

Military life insurance is essentially life insurance cover obtained by someone in the Armed Forces.

This pay out can help secure your family’s financial future, pay off a mortgage or help with the day-to-day cost of living.

Whilst sometimes a specialist policy is required, usually cover could be provided by the same insurers and the buying process is the same as for a civilian applicant.

In many instances, the cost won’t differ either depending on the nature of your role.

Using an award-winning broker, like Reassured, allows you to compare military life insurance quotes and secure the best deal we can offer.

What does military life insurance cover?

Due to the potential heightened risk associated with working in some military roles, the need for adequate life insurance is even more significant.

If you were no longer around, could your family:

Re payment mortgage bubble

Pay the mortgage every month?

The average UK mortgage debt is £132,378[1].
Cost Money Quotes

Fund their current lifestyle?

This includes the day-to-day cost of living, as well as unnecessary expenditure.
Childcare cost baby

Meet the cost of full-time childcare?

50 hours of day-time nursery care for a child under 2 is around £302.10 a week[2].
Funeral

Cover the cost of a funeral?

The average funeral costs £4,141 with the full cost of dying being £9,658[3].
Debts

Pay off outstanding debts in your name?

In the UK, the personal average total debt is £34,747[4].
Inhertiance

Receive an inheritance?

This can help family members with their financial security.

Although financial aid will be provided by the Armed Forces in the event of your passing whilst employed by them, this may not cover all of the above.

Having adequate life insurance could ensure that your family is financially supported, easing the disruption to their lives following your passing.

How much life insurance do you need?

Work out how much life insurance you may need based on your current financial commitments and what you want your policy to cover. Simply fill in the fields which apply to you for an instant calculation.

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£137,934 is the estimated mortgage debt per household in the UK.

The purchase of a home is likely to be the largest financial commitment any of us will make in our lifetime. Your life insurance should cover your remaining mortgage balance to allow your loved ones to stay in the family home should anything happen to you.

Source: Moneynerd.co.uk
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The average monthly household budget in the UK is £2,548 (that’s £30,576 per year), which is spent on transport, food & drink, utilities (gas, electricity, water etc), clothing, council tax and leisure activities.

With energy prices hitting a record high and the cost of living rising sharply in the UK, you may wish to factor in utility bills and family living expenses into your cover.

Source: Nimblefins.co.uk
£
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The average personal debt of UK adults has risen to £34,566 (not including mortgage debt), with credit cards, personal loans and overdrafts being the most common forms of debt.

Factoring in any debts into your life insurance cover means that, if they need to be paid back from your estate after your passing, your loved ones won’t miss out financially.

Source: Money.co.uk
£
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According to SunLife, the average cost of a funeral in the UK is £3,953 (with the overall cost of dying at £9,200).

Funeral costs have increased by 116% since 2004 and are a significant cost which should be factored into the amount of life insurance you secure.

Source: SunLife.co.uk
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When factoring in cover for your children, you may wish to calculate the amount based on how long it is until they reach financial independence.

This could include childcare (£7,000 per year for part-time care), school expenses (£1,519 per school year for uniforms, lunches, stationary etc), as well as an additional sum for further education (this could be a contribution of up to £5,000 per year).

Sources: Daynurseries.co.uk, Primarytimes.co.uk & Savethestudent.org
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2 in 5 adults say they are relying on an inheritance to fund their retirement.

Factoring in an inheritance to your sum assured could allow loved ones to live a more financially comfortable life. Alternatively, you could leave a cash gift to a charity of your choosing.

Source: Moneyage.co.uk
£
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If you’re lucky enough to have your own savings or are part of the 30% of UK residents who already have a life insurance policy in place, this can provide financial protection for loved ones.

By entering your current cover, savings or death in service amount you can reduce the sum assured you require.

Source: Scottishbusinessnews.net
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How much life insurance does the military get?

Military personnel don’t receive life insurance cover as standard.

The financial support available to your loved ones from the Armed Forces will vary depending on your rank, regiment, tenure and cause of death through a death in service benefit. Therefore, it’s likely to be beneficial to arrange your own life insurance protection.

Your premiums may require additional loading if there’s more likelihood of a claim. For example, if you work in a particularly high-risk role, such as bomb disposal.

To determine the level of cover you’re able to secure, contact our team and we’ll provide you with all of the information you need.

Military life insurance policies

Reassured could help you secure life insurance.

The following options can be suitable for covering different aspects of your life:

Level term life insurance

Best for military personnel who:

  • Have an interest-based mortgage
  • Require a fixed sum to be paid to loved ones if they pass away
  • Want fixed premiums

Decreasing term life insurance

Great for military personnel who:

  • Have a repayment mortgage
  • Only require the sum assured to cover their remaining mortgage
  • Want fixed premiums

Other important information for term-based policies:

  • Predefined term - can last up to 40 years
  • Critical illness cover can be added for an additional cost
  • Medical information is a requirement
  • Your military occupation will likely affect your premiums
  • Terminal illness cover included

Whole of life insurance

An option for military personnel who:

  • Want to ensure a pay out is guaranteed to loved ones
  • Are later in their life and are in good health
  • Don’t require terminal illness cover protection

 

Over 50s life insurance

Best for retired army veterans who:

  • Are aged 50 - 85 and a UK resident
  • Want to ensure a pay out is guaranteed to loved ones (after the 12 or 24 month waiting period)
  • Want to help cover funeral costs or provide a small inheritance
  • Have poor health (as no medical information is required)

Other important information for life assurance policies:

  • Premiums are fixed
  • Cover lasts for life
  • Critical illness cover can’t be added

It’s important to know that your military career can result in life insurance with higher than average premiums with most policy types.

Due to the inherent risk your position could put you in and the impact it could have on your health, each quote will be personalised to your position, active status and medical history, alongside your personal information.

The exception to this is with over 50s life insurance, which requires no medical information and offers guaranteed acceptance to UK residents aged 50 - 85.

However, premiums for these policies often have higher premiums because of the unknown risk.

Critical illness and terminal illness cover are additional levels of protection:

Critical illness cover: An extra level of protection available for an additional cost, which provides a pay out if you’re diagnosed with a serious, yet non-terminal illness, which could allow you to cover lost income or fund adaptations to your home to help cope with your condition.

Common illnesses covered include certain cancers, heart attack, blindness and stroke.

If you make a claim for critical illness on your life and critical illness policy it will expire, meaning you'll not then be covered in the event of your death.

Critical illness cover can also be secured separately to term-based life insurance through some providers. However, this isn’t available through Reassured.

People with certain positions within the Armed Forces may have exclusions added to their policies due to the higher level of risk involved.

For your free life insurance with critical illness cover quotes, contact our award-winning team.

Terminal illness cover: This allows an early claim to be made on your life insurance policy if you’ve been diagnosed with a terminal illness and given less than 12 months to live.

This early pay out can be used to settle your financial affairs, pay for private medical treatment or simply enjoy time with loved ones.

Terminal illness cover comes as standard with all term life insurance policies, through Reassured.

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How much is life insurance in the military?

The price you pay for military life insurance will vary depending on various factors.

These factors include personal details, details about your policy, as well as details about your military career.

You’ll be asked about the following during the application process in order for insurers to calculate your life insurance premium:

  • Age - On average, the younger you are, the lower your premiums will be
  • Smoking status - Smokers pay more for their cover due an increased risk of health complications
  • Your military occupation - This includes which armed force organisation you’re in and your rank and regiment
  • Your current military status - Whether you’re a regular, reserve or a veteran
  • Deployment status/likelihood - Your premiums will be higher if you’re likely to be deployed
  • Your weight and BMI - Premiums will have additional loading if your weight or BMI is in an unhealthy range
  • Health and medical history - This includes all conditions as a result of your service as well as any additional, unrelated, health conditions. Your family medical history may also be taken into consideration
  • Length and type of life insurance - The longer your policy term, the more expensive your premiums will be. This is why whole of life insurance is more expensive than term-based life insurance, as cover lasts for life
  • Amount of cover - A higher sum assured will result in higher premium payments

To find affordable life insurance premiums, contact Reassured.

We can provide you with quotes from some of the UK’s best life insurance providers, as well as smaller specialists (through our advised team).

Funeral cover for the Armed Forces

If you pass away during service, your loved ones may receive financial help for your funeral but not necessarily if the cause of death was natural.

If you pass away whilst serving in the forces, it’s likely that your loved ones will receive both emotional and practical support from the military. This also includes funding towards your funeral.

With the cost of funerals having increased +136% since 2004[3], this significant expense can cause a strain on the family.

Therefore, any help funding the cost from the military is welcomed.

However, this financial aid is dependent on the cause of death and only provides cover if:

  • Death is due to military service
  • War Pensions Constant Attendance Allowance was or would have been paid if the war pensioner had not been in hospital when they died
  • Unemployability Supplement was being paid at the time of death and the SPVA had assessed a War Disablement Pension at 80% or more
  • The person died while in hospital receiving treatment for a disablement for which they received a War Disablement Pension

If none of these are applicable, such as dying of natural causes, the task of funding your funeral will fall to your loved ones, highlighting the importance of having adequate protection.

A life insurance pay out has the potential to help cover the cost of your funeral, relieving your loved ones of this costly financial burden.

Why not contact our friendly team to find a policy which can help to cover funeral costs?

Life insurance for active duty military

As an active member of the Armed Forces obtaining life cover can prove slightly more difficult than the average civilian.

For example, if you’re currently deployed or are due to be deployed within the next 6 months, it’s highly likely you’ll be charged increased premiums for the first 2 years of your policy.

You may also incur loaded premiums depending on your role within the Armed Forces.

Premiums for those working in bomb disposal, diving and aviation-related roles tend to be higher due to the associated risks.

However, all other terms of the life insurance cover won't differ to that of a civilian.

While your military service may not impact your ability to secure cover, which military organisation you’re part of and your role can affect the price that you pay:

UK Armed ForcesHow this impacts your life insurance premiums
British ArmyMost combat positions in the army have an increased risk. However, those with very high-risk positions such as bomb disposal, will face an additional loading.
Royal NavyNaval positions involving deployment will result in increased premiums, with those with diving roles experiencing an even greater loading. While not necessarily always dangerous, the industrial environment can be hazardous.
Royal MarinesDue to the nature of positions held in the Royal Marines, all roles are likely to have additional loading.
Royal Air ForceAll aviation related roles would require additional loading and potential underwriting due to the high level of risk, while ground based office roles would have a lower loading.
VeteransYour previous occupation will not impact the cost of your life insurance, as only your current circumstances are considered.


Once your life insurance has been arranged, and provided you were truthful on your application, the cover will protect you regardless of where you’re deployed and your policy is likely to include at war risks, meaning that if you were to die at war, the cover would still be valid.

For your free quotes, contact our award-winning team today.

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Military specialist insurers

Specialist military life insurance providers don’t really exist.

Many companies arrange life insurance policies on behalf of Armed Forces personnel but the insurers which actually provide cover are usually mainstream providers.

To provide members of the Armed Forces with life insurance most insurers will employ additional underwriting when processing your application.

Further to this, you may have to fill in a questionnaire tailored specifically to your military service.

PAX military insurance

The MoD is currently under contract with Aon (underwritten by AIG) to provide the military with personal accident and life insurance cover (or PAX).

PAX is currently the preferred insurance choice within our Armed Forces.

The plan offers personal accident protection, first and foremost, but comes with the optional extra of life insurance and critical illness cover.

PAX in summary:

  • Life cover is available to regular and reserve military personnel
  • Personnel working in aviation are excluded
  • Maximum sum assured is £240,000 per person
  • Policy term length between 5 - 30 years
  • You have the option of including your partner/spouse on the policy
  • A pay out is made to your estate but may be subject to inheritance tax
  • Premiums can be taken either from your salary or by direct debit

One benefit of a PAX plan is that it has been designed to enable members leaving the military to continue their cover.

This could be a good option for you, however, it’s still generally a good idea to compare additional quotes. Please note, Reassured don't currently offer PAX plans.

Should I write my military life insurance in trust?

It’s possible for life insurance to be written in trust.

Writing your life insurance in trust passes ownership of your policy to a trustee.

They’ll then be responsible for distributing a pay out on your behalf, like an executor of a Will.

Key benefits include:

  • Reducing or avoiding 40% inheritance tax (IHT)
  • Avoiding the lengthy probate process (faster pay out)
  • Providing more control over your policy

Writing your life insurance in trust detaches the proceeds from forming part of your estate.

This could reduce the amount of inheritance tax your loved ones pay, (40% over £325,000), meaning they receive a larger percentage of the pay out.

This detachment also means your loved ones don’t have to go through a lengthy probate period to gain access to funds.

On average, a probate period can be between 6 - 9 months, but sometimes longer. Writing your policy in trust bypasses this, while letting your trustee distribute the pay out as you wished.

At Reassured we offer a free trust service on the majority of the policies we arrange, helping support you through the process.

FAQs for military life insurance

How do I change my military life insurance?

To change the details of your policy, you need to contact your current insurer.

Whether your family is expanding, you’ve bought a bigger home, or you’re leaving the military, it’s possible to amend your policy if it has a special events clause.

This is a clause that allows you to change your level of cover without needing to provide additional medical underwriting.

However, if you increase your level of cover, your premiums will also increase to reflect this change.

Not all policies include special events clauses.

If you’ve left the military, and would like to make changes to your policy, it’s worth considering a new policy as you may be able to secure a more favourable premium with your new circumstances.

It's important to ensure your insurer is kept up to date with any information regarding your personal circumstances.

How do my loved ones claim on my military life insurance?

Upon you passing your loved ones will need to contact your insurer.

The insurer will send out a claims form for your loved ones to complete and send back so the claim can be assessed.

Upon a successful claim, your loved ones will receive the proceeds once probate is completed (unless you have written your policy in trust to avoid/minimise the probate process).

Should I secure short-term or long-term military life insurance?

It’s possible to secure life insurance prior to deployment with the aim of cancelling it upon return, meaning you’re only covered whilst away.

However, continuously taking out short-term policies is likely to cost you more than a single long-running policy.

As you age, if you change to a role in a more dangerous field, or are deployed to a higher risk area, your monthly premiums will increase.

Details of your status only need to be accurate at the time of application to ensure your policy is valid. Therefore, if any of the above factors come into play but your policy is already running, you’ll not experience increased premiums.

Reassured are unable to arrange short term military life insurance. However, to determine whether long-term life insurance is right for you, contact our team.

Is life insurance for military spouses available?

Yes, military spouses can secure life insurance in the form of a standard life insurance policy.

Life insurance for military spouses is frequently overlooked.

However, it’s worth considering if you have children, or if your spouse’s income couldn’t be replaced.

If they were to pass away, it could bring financial instability and lead you to having to quit your career to look after your children full time.

Fortunately, life insurance for military spouses doesn’t differ from the average civilian, with acceptance and premiums based on your partners lifestyle.

Contact our team today for your free, no-obligation quotes.

Should I consider joint military life insurance?

It’s possible to secure a joint life insurance policy if you’re in the military, but it may not be the most cost-effective option.

Generally speaking, a joint life insurance policy can save you approximately 25% on your premiums, compared to two single policies.

However, joint cover only pays out once (usually upon the first death). This leaves the remaining partner uncovered and needing to seek a new policy.

With a joint policy where one partner is a member of the Armed Forces, the increased risks associated with this partner are likely to inflate the overall premium.

As a result, this could leave the non-service member paying over the odds for their part of the policy, depending on your role within the military.

It’s possible, therefore, that the cost of joint cover could end up similar to that of two individual policies, which would provide twice the coverage.

Contact our team today to determine the right solution to suit your individual circumstances.

Do veterans get free life insurance?

No, military veterans don’t receive free life insurance, or the death in service benefit received when on active duty.

However, obtaining affordable life insurance may now be easier than before. The risks of your job have now been eliminated, meaning that the process for arranging life insurance will no longer differ from the average civilian.

If you are a UK based veteran aged between 50 - 85, and have poor health after your military career, it’s worth considering an over 50’s plan.

Over 50’s plans are guaranteed to pay out and require no medical information. Contact Reassured for your free quotes today.

If you’re under 50, obtaining life insurance as a military veteran is definitely still possible, and involves exactly the same process as if you were never a member of the forces. It requires the same information to be disclosed.

Your premiums will be calculated based on personal factors (age, weight/BMI, smoking status, pre-existing conditions), as well as the cover amount, type of cover and length of cover required.

Do I need life insurance if I have an Armed Forces pension scheme?

If the worst were to happen to you, in most situations, your military pension would be passed to your spouse or partner.

Whilst the proceeds from your military pension could reduce the amount of cover required, it’s important to factor in the value and how long until you're able to draw from these funds.

It’s important to calculate how much your military pension could cover and how much life insurance you need to cover the period before your eligibility, or increase additional funds for your loved ones.

Does military life insurance cover mental health issues?

Sadly, serving in the Armed Forces makes you more susceptible to suffering a mental health illness. This could affect your ability to obtain life insurance.

The amount of military personnel suffering from post-traumatic stress disorder (PTSD) has risen +2% over a 10 year period[5].

PTSD and depression are strongly correlated with the following which can all impact your premiums or ability to secure cover:

Due to the health-related issues and risk imposed, insurers will load premiums to mitigate their risk of paying out.

If you suffer from PTSD, substance misuse or attempted suicide, it’s essential you disclose this during the application, as failure to do so could invalidate your policy.

Most policies include a suicide clause. This often refers to the first two years of the policy where if suicide occurs a pay out won't be made and depending on your personal experience with mental health issues, exclusions relating to suicide after this two year period may be applied.

If you're struggling, it’s worth contacting a support service for Armed Forces personnel:

Compare military life insurance quotes

Life insurance quotes for military personnel can vary significantly in cost between different insurers.

To ensure you secure a cost-effective policy, it’s important to compare a range of quotes.

At Reassured, we can source the quotes from a panel of top UK insurers, saving you time and money.

If required, our dedicated impaired risk life insurance team can provide specialist quotes to help find military members the right cover.

Quotes can also be provided to help spouses and retired military personnel with the cheapest option we can offer to meet their needs.

And the best bit? Our award-winning brokerage service is completely fee-free to use.

We’re here to help our dedicated servicemen and women secure the perfect policy.

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Sources:

[1] https://www.finder.com/uk/mortgage-statistics

[2] https://www.daynurseries.co.uk/advice/childcare-costs-how-much-do-you-pay-in-the-uk/

[3] https://www.sunlife.co.uk/funeral-costs/

[4] https://www.finder.com/uk/debt-statistics

[5] https://www.theguardian.com/society/2018/oct/08/ptsd-rates-increase-in-uk-military-personnel/

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