Insurance brokerage services

Tender description

Provision of Personal Accident and Life Insurance Broking Services (including Critical Illness and Terminal illness (life insurance only) cover) to Service Personnel (including Reserves). The Ministry of Defence (MOD) wishes to appoint a Contractor or Contractors (broker) to provide a Personal Accident and Life Insurance Scheme(s) tailored to the specific needs of Service personnel (including Reservists) and ex-Service personnel and MOD Civil Servants (deployment)for a period of 5 years plus an option to extend for a further period of up to 2 years. The Scheme(s) should include all brokerage and marketing services as appropriate. Options are also required for family cover for personal accident insurance and spouse/partner (nominated partner) cover for life insurance. There is a requirement for the inclusion under the Schemes for MOD Civil Servants; those on deployment whilst in support to operations. There are approximately 27 MOD Civil Servants on deployment currently. Lot 1 — Personal accident insurance The contractor shall establish, market and deliver a Personal Accident Insurance Scheme tailored to the specific needs of Service Personnel (including Reservists), ex-Service Personnel and MOD Civil Servants on deployment. The contractor shall provide for policies which will deliver defined benefits based on agreed levels of cover. The provision of an appropriate level of personal injury cover (excluding death from natural causes) based on a selected number of units and will be available for purchase depending on individual need and extent of the financial commitment that the individual is prepared to make. The individual should be able to increase or decrease the number of units held at any time. Lot 2 — Life insurance The contractor shall establish, market and deliver an “All Risks” Life Insurance Scheme tailored to the specific needs of Service Personnel (including Reservists), ex-Service Personnel and MOD Civil Servants (on deployment) and provide for policies which will deliver defined benefits based on agreed levels of cover. Members shall be able to increase or decrease the amount of cover they have within the Scheme limits, or leave the Scheme on written application to the Insurer. The minimum policy term will be 5 years and the maximum 25 years.