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I am working with a group of men on their war zone coverage, who have been waiting for three months now to start a series of one month trips to Iraq and Afghanistan to do finish work on some newly constructed airport facilities. As is becoming more common in Iraq especially, there have been delays. With the US troop pullout the country is truly in flux.

The latest, after they had been given the go ahead, was that it appears the Iraqi government isn’t issuing any new visas at this time. It seems with this kind of thing going on we may end up with civilian workers in Iraq who are asked to stay beyond their original contracts due to the inability to replace them with new workers. This may present challenges in planning their lives, but it may also present an opportunity to make more money, and for many save money on their current AD&D coverage.

There are a substantial number of civilian contractors who purchased their accidental death and dismemberment insurance through brokers who were selling an AIG product. For those that didn’t know any better they purchased the coverage thinking that maybe $9,000 per million per year was a competitive rate for what they needed. I discovered the Travel Insurance Agency and Global Underwriters were offering the AIG product when I was researching quotes for a client. When I looked further I got wind of the Lloyds of London products I use through Peterson International. At less than half the price I was blown away.

I queried Brandon Hughbanks from the Travel Insurance Center about this huge discrepancy and his reply still leaves me shaking my head. “Well, he said, if we get into a competitive situation we have access to the Lloyds products at the lower cost also.” If we get into a competitive situation? What happened to good old fashioned not screwing the customer. I go to great lengths to never, ever quote anything but the best rate available for life insurance, AD&D or disability income. The idea that Brandon put forth of only using the best rate if I was backed into a competitive corner was stupid. It was the end of any chance we will ever do business.

So, why all the history? As I mentioned it appears there is a good chance that workers will be offered extensions of contracts. If that opportunity comes up and you had previously purchased AIG 24/7 accident coverage, you need to know that you can get it for half the cost through Lloyds for an extension of the same benefits. And we can do it within just a few days while you’re still there. We can do it within 24 hours if your wife has the power of attorney to sign the application on your behalf and pay to put it in force.

Bottom line. Whether you are in Afghanistan or Iraq, get quotes before renewing your AD&D or disability coverage, even if you think you might be paying a fair cost. If you have any questions or need a quote, call or email me directly. Let’s talk about saving money.