Military personnel and veterans’ life insurance

Veterans and active duty service personnel may be eligible for a variety of benefits both during and after their time in the military, including life insurance coverage. There may be advantages to purchasing military life insurance plans, even though current and former service personnel may be able to obtain life insurance from a number of providers.

There may not be a need for a medical exam for life insurance policies designed for veterans and active-duty service members. Additionally, military life insurance firms don’t often base premiums on age, gender, health, or cigarette usage. Present and former military members may find it easier to select a plan that works best for them and their families if they understand how military life insurance functions as well as the costs and benefits.

Armed forces life insurance

Every service member may benefit from being familiar with the key words and restrictions in SGLI policy.

Servicemembers’ Group Life Insurance offered by the Military (SGLI)

The Department of Veterans Affairs’ (VA) Servicemembers’ Group Life Insurance (SGLI) program offers life insurance to active-duty military personnel as one of its perks. After you leave the military, you are covered by these insurance for 120 days thanks to Prudential’s underwriting.

The amount of SGLI coverage that a service member receives can be customized, with options available in $50,000 increments up to $500,000. This maximum coverage amount was raised from $400,000 to $500,000 by the newly passed Supporting Families of the Fallen Act. For every $1,000 of coverage, SGLI charges six cents as its basic coverage fee.

Service members may be qualified for Servicemembers’ Group Life Insurance Traumatic Injury Protection (TSGLI) benefits as a part of SGLI coverage. This policy may provide benefits to you if you suffer certain losses while on active duty, such as blindness or an amputation. TSGLI is charged at a flat fee of $1 per month and is included in the SGLI premium.

A Servicemembers’ Group Life Insurance Disability Extension may be available to service members who are completely disabled at the time of discharge, as determined by military requirements. An SGLI member can benefit from free continuation of life insurance coverage for up to two years upon discharge.

Premiums for SGLI

Coverage amountMonthly premiumTotal monthly premium deduction (including TSGLI)
*The Supporting Families of the Fallen Act now allows for this coverage limit, albeit it is not currently visible on the SGLI website.

Requirements for SGLI

You must fulfill requirements for at least one of the following categories in order to be eligible for SGLI coverage:

  • Active-duty members of the Army, Air Force, Navy, Marines, or Coast Guard. Commissioned personnel of the National Oceanic and Atmospheric Administration (NOAA) or the U.S. Public Health Service (USPHS) (NOAA)
  • Members, cadets, and midshipmen of the United States military academies, the Ready Reserve, the Reserve Officers Training Corps (ROTC), or National Guard volunteers in the Individual Ready Reserve (IRR) mobilization category

There are two conditions that must be satisfied in order to be eligible for full-time SGLI coverage if you are in the Ready Reserve or National Guard on non-pay status. You must be scheduled for 12 periods of idle training throughout the year and be drilling for points rather than compensation. Additionally, rather than having your premium automatically withdrawn from your military pay in this situation, you will pay your premium directly to your SGLI insurance.


One of the biggest insurers in the country, USAA, offers a range of life insurance products to qualifying veterans, active-duty service members, and their families. Term life, streamlined whole life, and universal life are some of these items. Although USAA’s life insurance policies may be less comprehensive than those offered by other firms, if you fulfill the qualifying conditions, you may be able to add $100,000 in term life insurance coverage when you get married, purchase a house, or have a child.

Association for American Military Mutual Assistance (AAFMAA)

Additionally, the American Armed Forces Mutual Aid Association provides life insurance plans to qualified spouses, veterans, and active-duty service members. Depending on the recipient, coverage amounts, medical conditions, and even payment arrangements, each policy type offers a variety of plan possibilities. Whether you are trained or deployed, AAFMAA provides coverage, and survivor benefits may provide additional help for your spouse or dependent child.

Veterans’ life insurance choices

When they leave the service, veterans may have a variety of life insurance alternatives, including:

Group Life Insurance for Veterans (VGLI)

The VA buys group life insurance for veterans under the name Veterans’ Group Life Insurance (VGLI). You have up to one year and 120 days following your discharge from the military to submit an application for a VGLI policy. This continues as lifetime renewable term coverage and extends up to the level of coverage you had with your SGLI insurance when you were enlisted. If a policyholder who had part-time SGLI coverage suffered an injury or disability that prevented them from qualifying for normal premium life insurance premiums, they might be eligible for VGLI coverage.

The Life Insurance for Service-Disabled Veterans (S-DVI)

The VA also provides service-disabled veterans with life insurance (S-DVI), which is life insurance protection created specifically for veterans with a disability related to their military service. You must fulfill each prerequisite for an S-DVI policy before being eligible:

Release from active duty on or after April 25, 1951, without a dishonorable discharge.
rated for a disability related to service
good health, excluding illnesses related to work or service
Within two years of getting your disability rating, submit an application

Mortgage Life Insurance for Veterans (VMLI)

Veterans with disabilities who qualify for a VA Specially Adapted Housing (SAH) grant can purchase mortgage protection insurance under the Veterans’ Mortgage Life Insurance (VMLI) program. You can add mortgage life insurance coverage worth up to $200,000 to a VMLI policy. As you pay down your loan, your coverage amount, which is based on the balance you still owe on your mortgage, will reduce. If paid out, the funds will be transferred right to the mortgage holder. Veterans must be under 70 years of age, have the title to their house, and have a serious service-connected disability in order to be eligible for coverage.

Other alternatives for military families in terms of life insurance

A VA program called Family Servicemembers’ Group Life Insurance (FSGLI) is made for the partners and dependent kids of SGLI subscribers. FSGLI may offer a term life insurance benefit for a member’s spouse and dependent children in the amount of up to $100,000 and $10,000, respectively. Members must pay a monthly payment for coverage for their spouse, but they are free to include dependent children in their policy.

How to choose the best coverage for you

Understanding the complex network of VA benefits may be challenging due to the abundance of policy alternatives and abbreviations. In order to make it easier for you to find the best life insurance option for you and your family, Bankrate put together this helpful guide that breaks down each type of life insurance policy and who it may be best for.

A lot of people have questions

Which life insurance policy is best?

Based on your demands and financial situation, the ideal life insurance plan may change. The majority of life insurance experts advise choosing a life insurance policy based on your unique demands and financial situation. Despite the fact that individual life insurance firms offer life insurance to military personnel and veterans, past and present service members may have the choice to select life insurance coverage designed especially for the military community. To decide the best life insurance for you and your family, you might think about speaking with a life insurance agent.

How do I get assistance with my military life insurance?

Through its website, local VA clinics, and customer support services, the VA offers free financial advice. You might be able to explore your options and make financial decisions by speaking with a certified insurance agent or a VA financial specialist.

How can I manage my life insurance for military personnel?

Through the VA website, you can manage your military life insurance policy online. Military personnel can safely access and manage their policy using the online portal, including changing beneficiaries, submitting claims, and reviewing the progress of their claims for a military life insurance payout.

Do these programs offer life insurance to spouses of service members?

For spouses and dependent children of SGLI members, the Family Servicemembers’ Group Life Insurance (FSGLI) plan is created. For couples and $10,000 per dependent kid, the FSGLI program may offer term life insurance coverage up to a maximum of $100,000. Child coverage is free, and the cost of spousal coverage is normally determined by the age and level of coverage of the spouse.

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