Good Insurance With The SGLI Life Insurance Plan

Some occupations are more hazardous than others, but perhaps, depending on world events at the time, an occupation as a solider can be the riskiest of all. Relating all of that to life insurance can make finding the right policy almost impossible. With the inherent risks involved in this particular occupation, it might be difficult to find any life insurance company that will insure you. That is why the government created Sgli Life Insurance.


This SGLI Life Insurance plan is a low cost group life insurance that is offered to every service man or woman on active duty. What makes this plan so appealing is that it is given to servicemembers, as well as National Guard members and ready reservists, with no underwriting conditions or requirements, which is unlike a standard life insurance policy.

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It is also unique in that the maximum coverage is permitted immediately and everyone is covered for the same amount regardless of their current health. Another benefit of this insurance is the low cost of premiums. This life insurance plan costs $3.50 per $50,000 and is deducted automatically from service members' pay.

Before a serviceperson decides on going with this life insurance policy there are a few things that they must know about the SGLI Life Insurance plan before they enroll. Firstly this is a group term life insurance plan. As with some life insurance policies, there are no refunds provided for unused benefits. The maximum benefits are $400,000 and can be paid either in a lump sum or it can be dispersed over a 36-month period.

Full coverage is provided automatically unless you refuse or reduced coverage at your behest. Full coverage can be restored later but it must be requested in writing and certain underwriting requirements regarding current health must be met. In addition, there is a maximum of $100,000 for spouse death, which is automatic as well unless it is refused and this also will need to be done in writing.

There is also a $10,000 benefit for a services person's child or children up until the age of 18 at no additional cost. When released from service, veterans can convert their SGLI to term insurance under the Veterans' Group Life Insurance plan.

Even with a good life insurance policy there is much to consider before signing on the dotted line. If you already have a life insurance policy then there is no need for the additional cost of another one, but if you do not have one and you are an active duty service person, you owe it to you and your family to look closely at the SGLI Life Insurance policy in the event that something unfortunate should happen.