Personal Accident and Life Insurance Schemes for Personnel
MOD is re-evaluating the Personal Accident Insurance Scheme and Life Insurance Scheme offer for personnel. A procurement exercise has been completed and we are pleased to announce that a new Broker, The Risk Factor, has been appointed. Initial discussions have taken place, and our priority is the continuation of appropriate cover for existing policyholders with as little disruption as possible.
As this is a new supplier, insurance products will no longer be branded as PAX. Existing PAX Personal Accident Insurance Scheme members should note that a replacement Personal Accident Insurance Scheme (providing similar benefits) will be introduced on 1 June 2023, for which they will need to apply if they wish to maintain Personal Accident Insurance cover. There will be no automatic transfer from PAX to the new provider.
There is no action for policyholders to take at this point. Once arrangements for how to join the new Insurance Scheme(s) have been finalised these details will be made available along with the new Scheme’s policy terms and conditions so individuals can make an informed choice based on their requirements (we expect this to be mid-May).
MOD personnel: please see 2023DIN01-023
