All of the members of the Class of 2014 should have received a huge packet of paperwork. One of the things to fill out is the Servicemembers' Group Life Insurance contract. I have a couple of questions about it. 1. Should I elect to have the coverage. (max is 400k or lower in increments of 50k, price is $26 a month for 400k of coverage) 2. If I decide to not sign up for the coverage can I sign up at a later time, such as when I graduate and join the fleet.