facebook twitter instagram linkedin google youtube vimeo tumblr yelp rss email podcast phone blog search brokercheck brokercheck Play Pause


Service-Members and Veterans have had access to life insurance policies for many years, as a way to provide security and protection for their families. These policies are designed to support the family in the event of an unexpected death and can be tailored to meet unique needs. Premiums are often much lower than those available on the open market, allowing Service-Members and Veterans to benefit from substantial savings. In addition, Service-Members and Veterans also have access to accelerated death benefits if needed, allowing them to receive a portion of the agreed-upon benefit before they pass away. This allows families to use this money in any way they see fit - whether it's paying off debts or helping with medical expenses. Finally, Service-Members and Veterans group life insurance policies provide peace of mind knowing that their families will be taken care of in the event of an untimely passing.

Servicemen's Group Life Insurance (SGLI)

Servicemen's Group Life Insurance (SGLI) is a program administered by the Department of Veteran Affairs (VA) that provides low-cost life insurance coverage to active duty and honorably discharged veterans who are members of the United States Armed Forces. SGLI is an affordable, voluntary, group term life insurance plan for eligible military personnel. All service members are automatically enrolled in SGLI unless they opt out by submitting a SGLV 8286 form. 

Eligibility requirements for SGLI include being an active duty member, Reservist or National Guard member, or within 120 days of separation from active service; or an honorable discharged veteran; and not already covered under a policy with Veterans' Group Life Insurance (VGLI). The maximum benefit amount is $400,000. Coverage can be reduced to any amount between $50,000 and $400,000 in increments of $10,000. 

The benefits provided by SGLI are extensive and valuable. Families of deceased service members are eligible to receive up to the full amount of coverage for their loved one’s death while on active duty or within 120 days after discharge from active service. In addition to death benefits, some servicemembers may also be eligible for disability benefits if they become totally disabled while insured under SGLI. Additionally, veterans have access to special provisions such as accelerated benefits (living needs), portability (continuance of coverage after leaving service), automatic extension periods without payment of premium required for certain authorized leaves, and family coverage options in the event they choose to add dependents on their policy.  

Servicemen's Group Life Insurance is an important benefit to consider for members of the United States Armed Forces and veterans. The coverage options are comprehensive and cost-effective, making it an essential part of any servicemember or veteran’s financial planning strategy. 

Veterans Group Life Insurance (VGLI)

Veterans Group Life Insurance (VGLI) is a life insurance program offered by the U.S. Department of Veterans Affairs (VA). It provides servicemembers and veterans with life insurance coverage after they separate from military service. The VGLI plan is designed to provide veterans with a renewable term life insurance policy for up to five years, with the option to renew the policy annually after that. 

Eligibility for coverage under the VGLI program is limited to those who had Servicemembers Group Life Insurance (SGLI) coverage at the time of their military separation, as well as those who are eligible for SGLI but decline it in favor of VGLI coverage during their first year of separation from military service. In order to qualify for VGLI, applicants must have been in good health when they were discharged from the military, and they must submit an enrollment form within one year and 120 days of their separation date. 

The primary benefit of the VGLI plan is that it offers veterans more affordable premiums than traditional individual life insurance policies. For example, premiums increase only once every 5 years rather than each year like other policies. Additionally, there are no health questions or medical exams required in order to enroll, making it accessible to all eligible veterans regardless of health status or age. Coverage amounts can range anywhere from $25,000 up to $400,000 depending on need and budget constraints. 

Overall, Service-Members and Veterans Group Life Insurance programs provide an affordable way for Service-Members and Veterans to secure financial protection for themselves and their loved ones in case something happens to them—like death or disability—while providing peace of mind knowing that they have a financial safety net should anything unforeseen happen in their lives.