If you are a member of the armed forces or a professional working within the MoD then you will be aware of how difficult it can be to obtain adequate Life Assurance to protect your family.
Most insurers cap cover at £250,000 and apply premium loadings of up to 1,000% making cover both inadequate and in many cases unaffordable.
Through access to preferential underwriting Chartwell Financial Services may provide the answer.
What are the benefits?
- Chartwell provides access to specialist life cover for professionals working within Armed Forces and the MoD.
- Unlike a standard life assurance policy, premiums are not loaded with the majority of applicants benefiting from cover at standard rates.
- Terminal illness cover is included ensuring an early payout for thouse diagnosed as terminally ill.
- Level or Decreasing cover from £5,000 up to £5m available.
- Protection insurance can’t stop the unthinkable happening, but it can make dealing with the consequences easier. Without adequate protection you could end up risking everything you’ve worked so hard to achieve.
Protection does’t need to be complicated. We make it easy.
How much will it cost?
The table below shows examples of monthly premiums for various ages. These rates are guidance for:
- Male non smokers
- Protection over 20 years
- Guaranteed rates
The rates are subject to medical and financial underwriting.
| Age | £100,000 | £250,000 | £500,000 |
|---|---|---|---|
| 30 | £6 | £14 | £28 |
| 40 | £13 | £29 | £58 |
| 50 | £38 | £87 | £173 |
Who are the suitable policies for?
- Professionals within the Armed Forces or MoD who wants to provide superior life cover protection for their family without suffering increased premiums
- MoD & Armed Forces professionals who require life cover to protect their mortgage.
Are there any limits to the cover I can have?
- Maximum cover of £5m for policies of less than 10 years.
- Maximum cover of £500,000 for policies of more than 10 years.
Are there any restrictions?
- The figure must be paid in a single lump sum before the age of 70
- Only death or terminal illness benefits can be provided
- Excludes death arising from war, invasion, Acts of Foreign Enemies, Hostilities, war like operations (whether war be declared or not), civil war, rebellion, state of siege, revolution, insurrection, civil commotion or uprising, military or usurped power, terrorism, use of nuclear, biological, chemical weapons of mass destruction.
- Death arising whilst on military duties outside of NATO or EU countries, switzerland, Canada and Belize, will not be covered.
How can I find out more?
Contact us to will discuss the advantages and suitability with you in more depth and make the necessary arrangements.