Military Veterans Life Insurance
The men and women who serve the United States by enlisting in the various branches of the military especially need life insurance due to the nature of their occupations. Knowing this, the U.S. government has given soldiers access to a low-cost term life insurance program called the Servicemembers’ and Veterans’ Group Life Insurance Program (SGLI). SGLI doesn’t provide sufficient protection in all cases, so military personnel frequently purchase supplemental military or veterans life insurance.
About SGLI
SGLI coverage can be purchased in benefit increments of $50,000 with a maximum limit of $400,000. It is available to active members of all four branches of service as well as employees of certain government services, cadets at the military academies and ROTC members. Once the person is discharged from active duty, military personnel can convert the coverage to a civilian policy. SGLI also offers disability supplemental life insurance. It is currently priced at $.065 per $1,000 in coverage without respect to the person’s age or rank.
SGLI Is Not Enough – Military Veterans Life Insurance
Although a good benefit, SGLI is really not sufficient military life insurance coverage for military personnel who have large families or large debts. Soldiers frequently have stay-at-home spouses and small children who would be devastated by the loss of their primary financial provider. Luckily, they can still seek supplemental coverage with a private life insurance company without voiding or endangering their SGLI benefits. Private military life insurance offers benefits and convenience to service personnel at affordable premiums because insurers are aware of the special needs and sacrifices made by veterans.
Benefits of Private Military Life Insurance
Given the nature of their professions, military personnel are guaranteed expedited review services for their applications to make sure they are covered when they need it most. Private military term life also offers additional coverage amounts beyond the SGLI $400,000 cap. These policies almost always cover deaths occurring during wartime, which is something most life insurers won’t cover for civilians.
Military personnel can also add a severe injury benefit to their life coverage (AD&D insurance) since the chances of being disabled are much higher than actually dying while in service.
Veterans Put Their Lives On The Line
Those who serve in the military are expected to risk their lives on the line for the greater good of our nation. Veterans made great personal sacrifices for the benefit of others, and because of this, they deserve extra consideration in many areas, including life insurance. Veterans’ life insurance is affordable and convenient for military personnel. If you are in the armed services, you need to look into additional coverage to guarantee your family’s financial well-being.
Life Insurance Quotes
Active military personnel and veterans can find and compare life insurance quotes, rates, and coverage with TheLifeInsuranceQuote.com. We help ensure consumers get the best and affordable veteran or military life insurance on the market.
Just enter your 5-digit zip code to begin a free, instant life insurance quote online to find cheap military veterans life insurance.
