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High life insurance premiums for troops

Mon, 05 Nov 2007

According to recent reports, UK soldiers risking their lives on the front line are also being forced to pay life insurance premiums totalling over £1,000. Insurance companies have trebled the cost of life insurance for soldiers, following the rising death toll in Afghanistan and Iraq.

Soldiers and other service men and women pay for extra levels of life insurance cover using a private scheme known as pax. Obviously, for soldiers on the front line, the need to provide for loved ones is evident.

The Ministry of Defence approve the Pax scheme, and in its favour it can pay out more than most conventional life insurance policies . However, insurance companies have now increased the cost of annual premiums.

Political criticism was levelled at the MOD from both the Tories and Liberal Democrats, who called it an ‘insult’ and ‘shameful.’ Pax is run by a large American insurer AIG.
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