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Servicemembers Group Life Insurance – An Overview of Benefits

There’s a peace of mind that comes with knowing your loved ones will be cared for.  The Veterans Administration offers a number of life insurance programs to servicemembers at lower costs. These programs are designed to provide financial assistance to servicemembers’ payable in the event of death or, in some cases, traumatic injury. Servicemembers Group Life Insurance (SGLI) provides low cost group life insurance to servicemembers, including commissioned officers of the Public Health Service and the National Oceanic and Atmospheric...

Is SGLI Enough?

The prime directive to keep in mind when doing your life insurance planning is this: Have enough to replace your income for the people you love. Now, that said, let’s take a look at what the maximum SGLI benefit of $400,000 can accomplish. First, how long are you planning on being dead? Usually, that’s quite a long time.The purpose of life insurance for breadwinners (including service members) is to replace the income they would have earned for the family. So add up all your pays and allowances – including special...

Servicemembers Group Life Insurance Coverage

Servicemembers Group Life Insurance (SGLI) is a VA program that provides low cost group life insurance to members of the Uniformed Services.  This includes commissioned officers of the Public Health Service and the National Oceanic and Atmospheric Administration, cadets and midshipmen of the service academies. Unless members elect to reduce or cancel their benefit amount, they are automatically insured under SGLI for the maximum amount of $400,000.  Reductions can be made in $50,000 increments or coverage may be canceled...

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