US Military Life Insurance SGLI Benefits

Members of the United States Military have been provided with Servicemember Group Life Insurance coverage for about 50 years. It is available to members of the Armed Forces, to every active duty Servicemember. Congress has repeatedly adjusted the amount of coverage over the years. Up to $400,000 dollars are available under the Servicemember Group life insurance program. There are other levels that are available, but the maximum is available for $28 dollars a month, which is a small amount for such large coverage amounts.

It is a benefit that most members of the military don’t think a great deal about, most of which is because it is insurance and the level of insurance coverage is just not something most Servicemembers don’t think about it. The premium is deducted from the very first check and most people never miss the deduction for their insurance. The coverage amount for spouses and dependants is available in multiples of $10 thousand dollars up to a maximum of $100,000 dollars.

The rate of insurance premium for Servicemembers for the maximum coverage amounts work out to about 7 cents per thousand dollars of insurance coverage. It is coverage that is better than what can be obtained in commercial insurance sources. This is more advantageous than what can be accessed though commercial life insurance. There are policy opportunities through the SGLI for dependents and family members too. These are the minimum and maximum costs for insurance for your spouse for the $100,000 dollar coverage, the amounts are less for less coverage. SGLI also started a new insurance in 2005 called traumatic injury insurance protection, it is available for amounts from $50,000 dollars of coverage to $100,000 coverage amounts, depending on the type of injury. Dependent children are automatically covered for free at the $10,000 dollar level. This traumatic injury coverage is available for $1 dollar and the benefits is payable depending on the traumatic injury that is suffered.

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The coast of the insurance depends on the age of the spouse. The Cost runs from about $6 dollars for a spouse under age 32 years old, up to a maximum of $55 dollars a month for spouses over age 60 years. With Servicemembers SGLI coverage, more insurance is available for purchase up to $100,000 dollars per child.

Check out dod.gov for more info.

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2 Responses to “US Military Life Insurance SGLI Benefits”


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military dot image dennis burks    Thumb up 0 Thumb down 0

is my sgli pollicy still in force how do i get imformaition on it


military dot image Tips on evaluating life insurance companies    Thumb up 0 Thumb down 0

Thank you for the good writeup. It in truth was a entertainment account it. Glance complex to more delivered agreeable from you! However, how could we communicate?


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