However the MoD has announced a new scheme which will cover service personnel from war and terrorism risks as the death toll in war-torn Iraq and Afghanistan continues to rise.
The new scheme, developed with Sterling Life, will contain war and terrorism cover including chemical, biological, radiological or nuclear warfare when on UK military duties. Extra premiums to 'high risk' military trades, including special forces and bomb disposal, will not apply, unlike with some other insurers.
"The service life insurance (SEI) scheme is designed to complement and reinforce our existing schemes. It gives our personnel the option to take out life insurance cover that is tailor made to reflect the unique nature of what they do," said armed forces minister Adam Ingram.
Members will be accepted to the scheme without any medical underwriting, the MoD announced, and premium rates are also guaranteed not to increase for the life of the policy.
"Cover is available to each and every serviceman or woman across every unit, ship and regiment at every stage of their career. Whatever their job, wherever they are," Mr Ingram added.
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