Returning Military Personnel Should Review Insurance Options
TALLAHASSEE, Fla. - As thousands of military personnel prepare to return from deployments in Iraq and Afghanistan in the coming months, they should review their insurance coverage to make certain that they and their families stay protected no matter where they are, according to Insurance Commissioner Kevin McCarty and the National Association of Insurance Commissioners (NAIC).
“With frequent moves and changes in deployment status, members of the armed services face a unique situation when it comes to insurance,” explained Commissioner McCarty. “By staying on top of their insurance options, military personnel can ensure they have the right coverage for any situation, whether they are in Kabul, Afghanistan, Kirkuk, Iraq or Tampa, Florida.”
The NAIC tailored a section of its Web site to reflect the special circumstances military personnel must take into account when shopping for insurance. This helpful online information can be found at http://www.insureuonline.org/course_military.htm
. The site provides insurance tips and special considerations for the four basic types of insurance: auto, home, health and life.
The Office of Insurance Regulation (Office) has been active in protecting the rights of military personnel who purchase insurance.
In 2006, the Office participated in a $70 million multistate settlement with American-Amicable Life Insurance Company of Texas for allegedly deceiving military personnel into purchasing additional, unnecessary life insurance for active duty coverage. At that time, the federal government automatically provided soldiers with $250,000 in low-cost life insurance. Refund information for service members who purchased insurance from this company can be found at http://www.sec.gov/divisions/enforce/claims/amicable.htm
In 2007, Commissioner McCarty proposed a Rule
to the Governor and Cabinet that protects active duty service members of the U.S. Armed Forces from dishonest and predatory insurance sales practices in Florida. The Rule was adopted unanimously.