Existing PAX insurance policies are due to end on 31 May 23.
PAX Scheme members should note that a replacement personal accident insurance scheme will be introduced on 1 June 23, for which they will need to apply if they wish to maintain personal accident insurance cover.
It is anticipated that the new contract will contain similar benefits and could be with the existing supplier, or a new supplier.
MOD has a long-standing position that Service Personnel should not be disadvantaged in their ability to access privately arranged commercial insurance due to their employment.
New members can still join the existing Personal Accident Insurance (PAX) Scheme up until the contract expires on 31 May 23.
Claims already notified will continue as normal and if an insured event occurs on or before the policyholders cover end date or 31 May 23 (whichever occurs first) and is then notified to insurers in accordance with the time limits within the policy documentation, then these will be assessed in accordance with the relevant terms and conditions.
The announcement of the award of a new insurance contract is expected in early May 2023.
The current PAX policies, including any optional life and critical illness benefits held under the current policy terms will end at 23:59hrs on 31 May 23.
All current PAX members will be provided with the requisite notice of the date of termination from PAX.
Current members will then need to consider if the new scheme policy terms and conditions are suitable for their needs once details are made available.
It is likely that any future provision will not be able to be made via payroll and individuals will need to make private payment arrangements i.e. via Direct Debit.
Note: Further details can be sourced through - 2023DIN01-023 - available via MOD Networks only.