Can you explain SISIP

[Tpr.Orange]

Hey all.

I have a question for you if you dont mind. A buddy of mine started asking me a bunch of questions about sisip, and i couldn‘t answer a singe one... does anyone know what it is or how it works in regards to a class a reservist?

thanks!

 

[Tpr.Orange]

does anyone even know what sisip is?

 

[winchable]

http://www.sisip.ca/

I can‘t explain it exactly, and I‘m certainly not an economics or tax expert.
Basically its a financial service that‘s specifically designed for DND.

 

[Franko]

They provide life insurance and health insurance as well as finacial aid.

They provided much relief when Mrs Franko was in the hospital in the ICU for 2 weeks. They helped out with my bills such as paying for her bed, puchasing medical devices, medicines that were WAY too expensive for me to put the deposit on.

It is pretty much a general insurance company that caters to the millitary members who pay into it.

Regards

 

[darrell96]

Basically, it was a group insurance for military members.  It can be extended beyond retirement to age 65.  Premiums based on age and what coverage level as well as family levels.  I believe it was mandatory in the 80's, not sure now.  Max used to be $300K for member, spouse $100K, and children $10K.  I thought it was good cheap term insurance and kept it after retirement.

Darrell

 

[Armymedic]

Its not just insurance, but also assistance in financial planning, taxes, quick emergency loans, and other money related topics only for military and retired military members.

 

[Fishbone Jones]

Those are about the best explanations I've heard. Anyone that's been to one of their briefs always comes out more confused than when they went in. THEY can't even explain it to the layman ;D

 

[McG]

Unlike most life insurances, SISIP is not invalidated if the death was the result of "war."  Most insurance companies will not pay benifits if you are shot in Bosnia.  In this area, SISIP was built with the soldier in mind.

 

[zeke_wpg]

Pelease direct pers with questions to: http://www.sisip.ca/

 

[the 48th regulator]

Unlike most life insurances, SISIP is not invalidated if the death was the result of "war."   Most insurance companies will not pay benifits if you are shot in Bosnia.   In this area, SISIP was built with the soldier in mind.

Funny,   I was told that I did not qualify for coverage after I was injured.   I received absolutely no help, or compensation from them.   This after we were pretty much told to sign up, at the same time we signed our contract to go overseas.

Maybe things have changed, as it has been over ten years.

dileas

tess

 

[George Wallace]

Tess

Things have changed in the last ten years....but I am wondering why this old thread was revived to state a fact that was posted in Reply # 2?

 

[the 48th regulator]

geez,

didn't realize the date of the original exchange, saw this one pop up with zeke_wpg's post and thought it was new.   :-[

Cheers George, I am glad it is a hell of a lot better now...hmm wonder if I can see about going after them retroactively...alas, that is cause for a whole new topic..

dileas

tess