On this page you will find information about:
- Accessing benefits in and out of service.
- Creating a Will.
- Purchasing insurance and how it could help.
If you are struggling to save money during these difficult times, it's a good idea to find resourceful ways to manage your money. Whether you are currently serving or have left the Armed Forces, there are some things you may want to consider.
For those who are currently serving, ex-service personnel, and their dependants
Benefits, Debt and Money Advice (BDMA) from the Royal British Legion
Our BDMA service offers free, confidential advice to the Armed Forces community.
The team can offer guidance on a range of topics including:
- benefits that you may be entitled to
- assistance in making an appeal against a benefits decision, and
- comprehensive advice for those in unmanageable debt.
To find out more about the support the RBL could offer you, contact us via
Telephone: 0808 802 8080
Telephone overseas: +44 (0)20 3376 8080
Calls are free
from UK landlines and main mobile networks
Email: [email protected]
Dealing with debt
If you are struggling with debt, we have guidance to help you figure out where to start and how you can access support.
Read more about seeking debt advice here on the RBL website.
Grants and State Benefits
You can find out what you are entitled to by using a range of free tools online. Service personnel and their dependants, as well as veterans, may be able to claim a range of benefits in the UK. These include:
- Universal Credit
- New Style Employment Support Allowance
- Jobseekers Allowance
- Statutory Sick Pay
- Armed Forces Independence Payment
- Personal Independence Payment, and
- Child Benefit.
The benefits calculator will allow you to see which benefits, tax credits or pensions are available to you. Additionally, you can compare estimates to see what you could get if your situation changes.
There is more financial support available not included in the benefits calculators. This tends to be more specialist assistance aimed at very specific groups of people. If you're already receiving Universal Credit, you may be able to apply for a Budgeting Advance.
Find out more about Budgeting Advances on the Citizens Advice website.
Power of attorney
Anyone may find themselves in a situation where they are unable to manage their money. It can be good idea to put some measures in place so that someone else would be able to do it for you. You can do this by setting up a permanent power of attorney.
A general or ordinary power of attorney can be set up for someone to manage your financial affairs for a specific period of time, for example when you're away on deployment, or during a hospital stay.
It does not need to be registered with any official authorities, but it does have to be written in a certain way, so you'd need a solicitor's help. It stops when the set period ends, or earlier if you cancel the power. It comes to an end if you lose your mental capacity.
Find out more about Power of Attorney on the HMRC website.
Funeral plans and funeral insurance
The cost of a funeral can be very high and it is important to understand what you can do to ensure that all financial elements are provided for.
It can be a worry that when someone dies they won't leave behind enough money to cove the cost of their funeral. A funeral plan allows you to arrange and pay for a funeral in advance, so that relatives don't have to cover all the cost themselves. You can arrange a plan for your own funeral or for someone else's, as long as the funeral will be held in the UK.
A pre-paid funeral plan is not the only way to pay for a funeral. There are other options and ways to save on the cost of funerals.
For those who are currently serving in HM Armed Forces, regular and reserves
As someone who is serving in HM Armed Forces, or a family member of, you will be entitled to some in-service benefits. You can find out more about what you are eligible for on the Discover My Benefits website.
- Find out more about the benefits of working in HM Armed Forces on the Discover My Benefits website.
- Read advice and support for managing your money during your service on the RBL Knowledge Base website.
Advances of pay
As a member of the Regular and Reserve Service personnel, you may be eligible for advances of pay. You can apply for an advance of pay if not having one would cause you severe hardship. In these circumstances, this will be up to a maximum of seven days' net pay.
You can also apply for an advance of pay depending on your situation. However, you will have to pay the advance back from your pay. The repayments can vary from between two pay periods to 12 months depending on the advance.
You will need to complete the relevant form and get your Commanding Officer to authorise it.
To find out more see JSP 754 Part 2 Chapter 2 Section 5, available on the Defence Intranet only.
Your Will
Your Will tells everyone what should happen to your money, possessions and property after you die (all these things together are called your ‘estate’). If you don’t leave a will, the law decides how your estate is passed on – and this may not be in the way that you want.
If you are considering creating or updating your Will you may want to consider using the Royal British Legion’s free Will writing service.
Learn more about the Royal British Legion's free Will writing services on our website.
Insurance
Insurance can offer protection from financial loss. In exchange for a fee, insurance can provide compensation if an unfortunate event occurs. Below are some examples of the types of insurance that may be useful to you.
Kit insurance - for those who are currently serving
It's your responsibility to keep your kit safe, whether at home or abroad. This is where kit insurance comes in. Kit insurance sometimes comes combined with home or personal belongings insurance.
It covers loss or damage to your belongings while at home or abroad. As with all insurance there are events which aren't covered (the exclusions) so make sure you read the policy carefully and understand what these are. There are a number of specialist insurers.
You can take a look at the Services Insurance and Advisory Panel (SIIAP) directory or just search online. Bear in mind that your regular high-street insurers don't normally offer kit insurance.
Find out more about the Services Insurance and Advisory Panel directory on their website.
It is recommended that when looking for an insurance provider you should get quotes from at least three and compare:
- prices
- what is covered, and
- what is not covered in the policy.
Critical illness insurance
Examples of critical illnesses that might be covered include:
- Heart attack
- Stroke
- Types and stages of cancer, or
- Conditions such as multiple sclerosis.
Most policies will also consider permanent disabilities as a result of injury or illness. It only pays out once and then the policy ends. Some policies will make a smaller payment for less severe conditions, or if one of your children has one of the specified conditions.
Where to get quotes
It is recommended that because the cost of getting it wrong is so high, it is best to purchase your plan using an independent financial adviser or someone from the Services Insurance and Advisory Panel (SIIAP) accredited companies or the White Ensign Association directory who specialise in this type of insurance.
They'll be able to advise you on whether a critical illness policy really is right for your needs and if so, how much cover you need and for how long. They might charge a fee for their services - or they may be paid in commission by insurance companies.
Find out more about SIIAP accredited companies on their website.
Life insurance
Death-in-service Benefit
As a member of the Armed Forces, you're covered by the 'death-in-service' benefit. Death-in-service pays out a lump sum if you die while in Service. It is important to check and make sure the benefits are enough to cover your family's needs. If not, you may be able to top up with a life insurance policy.
Life Insurance
Life insurance can pay your dependants a lump sum or regular payments if you die. If you have a partner, children or other relatives who depend on your income, then it makes sense to have it. The Armed Forces recognise that the particular hazards of Service life can make getting the right insurance difficult and expensive. If you are in certain high-risk occupations (for example diving, parachuting, flying, bomb disposal etc) you might be eligible for a refund of the extra premium you have to pay by claiming under the Service Risks Insurance Premium Refunds (SRIPs) scheme.
You can find out more about SRIPs in JSP 752, chapter 10 section 6. The MOD has contributed to the PAX Insurance Scheme which provides life and personal injury insurance at reasonable rates for Service personnel. There are a number of specialist insurers that provide insurance for Armed Forces personnel.
Read JSP 752 to find out more about Service Risks Insurance Premium Refunds on GOV.UK.
You can find one through the MOD-facilitated providers or through the directory provided by the Services Insurance and Investment Advisory Pan-el (SIIAP).
Bear in mind that if you stop working for the Armed Forces, perhaps through ill health, you may lose the death-in-service benefits and may not be able to take out life insurance at that time.
Find out more about the Services Insurance and Investment Advisory Panel (SIIAP) on their website.
Advice from other organisations
Citizens Advice Bureau - England, Scotland and Wales
The Citizens Advice Bureau (CAB) provides information and advice on a wide range of issues including benefits, work, debt and money. The CAB is a network of over 300 independent local charities.
- Visit the Citizens Advice England website.
- Visit the Citizens Advice Scotland website.
- Visit the Citizens Advice Wales website.
National Debtline - England, Scotland and Wales
National Debtline is a free, impartial, and confidential debt advice service. In addition to its advice service, the charity hosts online guidance and support about budgeting, financial facts, sample letters and the cost of living.
Find out more about the guidance and advice offered by the National Debtline on their website.
Get in touch
Visit the National Debtline website to chat online, or
Telephone: 0808 808 4000
Advisors are available Monday to Friday 9am to 8pm and Saturdays 9.30am to 1pm.
MoneyHelper - England, Northern Ireland, Scotland and Wales
Set up by the Government, MoneyHelper provides free and impartial money advice. They can help with a range of issues and provide advice on topics such as:
- Benefits: Universal Credit, if you are working, have children, are unwell or living with a disability.
- Everyday money: banking, budgeting, insurance, credit and buying a car.
- Family & care: becoming a parent, long-term care, death, bereavement, student money, divorce & separation, illness and living with a disability.
- Housing: buying a home, renting and further guidance.
- Money troubles: cost of living, dealing with debt, scams and complaints.
- Pensions & retirement: pension basics, auto enrolment, state pensions, building your retirement pot, pensions problems, and tax.
- Saving: how to save, investing, and types of savings.
- Work: employment, losing your job, and self-employment.
Find out about what to do if you're struggling with debt on the Money Helper website.
Visit the MoneyHelper Cymraeg website.
Money Advice and Budgeting Service - Northern Ireland
The Money Advice and Budgeting Service (MABS) is a free service that can help you with money, budgeting and debt advice.
The service had advice on many debt related areas including:
- mortgages
- paying rent
- paying bills
- struggling with multiple debts
- paying government debts
- loans, and
- credit card debt.
Learn more about managing debt on the Money Advice and Budgeting Service website.
Get in touch
Visit the MABS website to find an office that you can visit, or
Telephone: 0818 072 000
Email: [email protected]
Request a call back from an adviser on the MABS website.
Advice NI – Northern Ireland
Advice NI is a registered charity which can provide you with guidance on a range of topics including:
- benefits
- money & debt
- cost of living
- employment and more.
Find out more about guidance for dealing with debt on the Advice NI website.
Get in touch
Visit the Advice NI website to find out more, or
Telephone: 0800 915 4604
Email: [email protected]
PayPlan – England, Northern Ireland, Scotland and Wales
One of the UK’s largest free debt advice providers, PayPlan offers free, simple debt advice to anyone who needs it.
Find out more about the support offered by PayPlan and how to access it on their website.
Read frequently asked questions about dealing with debt on the PayPlan website.
