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TAX ALERT: PACMATE Annex 3.A, item 68. |
4.9.1 Purpose
4.9.2 Members
entitled
4.9.3 Members
not entitled
4.9.4 Amount
of reimbursement
4.9.5 Timing
of reimbursement
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A member may be reimbursed the part of a life insurance policy premium they pay because of the additional risk involved in doing their duties. This includes a member on Reserve service. This additional risk premium is the difference between these two amounts. |
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a. |
The premium the member would pay for life insurance if their duties did not involve additional risk. |
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b. |
The premium they pay because of the nature of their duties. |
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A member may be reimbursed their additional risk insurance costs if they do either of the following. |
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a. |
They pay more than a normal yearly life insurance policy premium because of the nature of their duties. Examples: A member serving in flying or submarine categories. |
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b. |
They pay a higher premium on a life insurance policy they take out on a dependant because of the nature of their duties. |
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A member will not be reimbursed their additional risk insurance costs if they pay additional premiums only because of the location they are serving in. |
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1. |
The member is entitled to be reimbursed the additional risk premium they paid for each insurance policy. No more than $1,932 can be paid in respect of a financial year, in total. |
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2. |
The CDF may grant an additional reimbursement, up to the amount of the additional risk premium. The CDF must consider all these criteria. |
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a. |
The member's rank and duties. |
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b. |
The nature of the policy and the commencement and maturity dates of the policy. |
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c. |
The value of the policy. |
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d. |
The reason for the additional risk premium. |
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e. |
The additional risk premium offered by other insurers. |
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f. |
Any other factor relevant to the member’s life insurance. |
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3. |
... |
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Persons who can make the decision under subclause 4.9.4.2 on behalf of the CDF: Director General Navy People Director Navy Personnel Policy Director Navy Employment Conditions Director General Personnel – Air Force Director Military Administration – Air Force Deputy Director Personnel Concepts and Policy – Air Force Director General Personnel – Army Director Personnel Policy – Army |
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1. |
A member is entitled to reimbursement once a year. |
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2. |
The premium for the additional risk insurance must be paid in full before reimbursement can be made. |
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Note: The member must provide evidence of the payment. It is the member’s responsibility to provide enough detail to allow the entitlement to be verified. |