Life Insurance

Jaggr19, as a parent, I disagree. No amount of money will compensate for the loss of a child. And, my and DH's perspective is that we don't need our children leaving us extra money in the unfortunate event of their death; we are financially fine. We would rather DD have the little extra money. And, last I saw her LES's, the twice a month pay is not a set amount, but based on deductions for books, uniforms, etc., and also offset by what the cadet has paid out of pocket and other scholarship money, a least at USAFA. USMA and USNA might be different.
 
Capri120 said:
Jaggr19, as a parent, I disagree. No amount of money will compensate for the loss of a child. And, my and DH's perspective is that we don't need our children leaving us extra money in the unfortunate event of their death; we are financially fine. We would rather DD have the little extra money. And, last I saw her LES's, the twice a month pay is not a set amount, but based on deductions for books, uniforms, etc., and also offset by what the cadet has paid out of pocket and other scholarship money, a least at USAFA. USMA and USNA might be different.
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I'll repeat again that regardless of your plan choice you will not be receiving extra money in your account every month. This is for USMA, not USAFA.
 
Correct me if I'm wrong, but at USMA, what you don't get now in your paycheck, you will get back when you graduate. So, still money from the cadet to "finance" parents, in the unfortunate event of early death at the Academy, that the cadet will have at some point.

Granted, this might be significantly beneficial to some parents, but I consider it "greedy" at the cost of your child. And, yes, we, like most parents, have spent 100s of thousands of dollars to raise each child, but that is our duty and obligation, without expecting repayment, except to see the child succeed.
 
I am disagreeing with the parents on this one as well based on active duty experience. As a commander I saw Soldiers who died in combat and their families end up not receiving the full benefits because of a shortsighted desire to save a few dollars. I lost a family member in Afghanistan and because she didn't update beneficiaries the money went to her estranged husband and not her children who were under appointed guardianship. So personally, I talk to officers about setting an example for your Soldiers by doing what you ask them to do in this case forego the $25 extra a month and make an adult decision. Cadets start off at $900 (understanding it will be reduced to uniforms and fees) and $25 more isn't that much to ask.

It is too frequently on these forums that we see cadets lost due to accidents or training and it is imperative from day one that all understand this is a dangerous business of leading America's sons and daughters. Part of accepting that responsibility is being foresighted enough to recognize your own mortality.
 
I appreciate all the posts in this thread. This is not easy stuff to discuss but there are some good points offered. I am the parent of a newly appointed USAFA 17 year old just trying to figure it all out and offer him good advice. In the end it's the future Cadet's decision but mine is looking for guidance and this forum is definitely helping.

My DS just wants to know if waiting until he really needs the SGLI ( at least > 5 years from now) is a mistake. Me the parent could not care less about the $$, we don't need it. He does not need the life insurance coverage now but wants to know he will be able to financially protect his future dependents later in his Military career if he declines now. $30/month is nearly $4K in 10 years so he feels like it's not a snap easy decision.
 
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I've known parents who lost a child in combat. While they did not need the SGLI money and would gladly have traded all their wealth to bring their child back, in every case the parents were able to use the SGLI money as seed money for scholarships or foundations in the name of their child. I myself received a small stipend in college from a foundation set up by parents who lost their son in Viet Nam.
 
Don't get me wrong. I agree once the son or daughter is out of the Academy on active duty, they should probably have more insurance, depending on their obligations. But as a Cadet in training, not so much.

Each person should select what they feel is best for their situation.
 
UHBlackhawk said:
I've known parents who lost a child in combat. While they did not need the SGLI money and would gladly have traded all their wealth to bring their child back, in every case the parents were able to use the SGLI money as seed money for scholarships or foundations in the name of their child. I myself received a small stipend in college from a foundation set up by parents who lost their son in Viet Nam.
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Great point and way to honor the greatest sacrifice one can give for our great country. Great things can come from the most terrible of circumstances.
 
Capri120 said:
Don't get me wrong. I agree once the son or daughter is out of the Academy on active duty, they should probably have more insurance, depending on their obligations. But as a Cadet in training, not so much.

Each person should select what they feel is best for their situation.
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I feel like this is a bit of a cop out response, and I don't mean that disrespectfully.

Of course each person should choose what they think is best for their situation, but this person asked for advice based on their circumstances, and while it's ultimately their decision we shouldn't withhold advice because it's "not our decision."

I will once again recommend you choose 400k - trying to save a few dollars every month is short-sighted and, in my opinion, symbolizes that you have yet to come to terms with the fact that you/ your child will be in harms way starting the day they get to Basic. Training accidents happen, just as casualties happen in war. "Prepare for the worst, hope for the best."
 
Actually, the OP asked if the insurance could be increased later if the appointee chose the lower amount...the answer is yes, without any hassle.
 
I thought the whole compound is "secured"? I guess not?

What about the cadets' honor code? I guess the "civilian workers" are not bound to the honor code, only the cadets are?


ca2midwestmom said:
^unfortunately in a place where individual room doors are not locked and there are civilian workers with access (in addition to 4000+ cadets), things sometimes "disappear." The uniforms, computer, cell phone, and any other person items can be expensive to replace.

In Plebe year, c/o 2018 had expenses of $4,900-uniforms & equipment, $1,800-books & supplies, $3,780-computers & supplies. >$10,000

Renter's insurance is highly recommended for cadets.
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Hopefuldadusma2021 said:
I thought the whole compound is "secured"? I guess not?

What about the cadets' honor code? I guess the "civilian workers" are not bound to the honor code, only the cadets are?
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Of course the compound is secure, but naturally people slip through the cracks.

My military science instructor, an NCO who has deployed to Afghanistan, was telling me how when he was stationed at FOB Salerno they would hire locals to do some of the work they didn't have their soldiers doing. Even after vetting, however, he would notice that occasionally some fishy things happened. Workers would be counting their steps as they left for the day, almost as if they were counting the distance between points, and a few hours after they left mortars would start raining down on the very same positions they'd measured. The worker would never show up again.

This whole story just to say, people will always be able to beat even the best of systems. And while the honor code exists, it is not some magical barrier against lying, cheating, and stealing - it still happens. Even if 99.9% of all cadets followed it, 4-5 cadets wouldn't. As well, things go missing for non-malicious reasons, too. Everyone's given the same items, it's not unreasonable to think that somebody grabs the wrong one. Happens with clothing all the time.

And no, civilians are not bound to the honor code, nor are the enlisted or officer personnel, only cadets.
 
USAA renters insurance proved very helpful for our 2016 grad. In the library, left to go to the bathroom and put his cell phone on pile of books with all the other gear, came back and the cell phone was gone. Ended up in Texas when someone reached out and asked for the passcode to clear the phone - clearly stolen and shipped offsite - most likely visitor or someone else in the library? Next occasion he was moving gear from regular barracks to Brigade barracks for his leadership detail and all personal gear was piling up in one location after going back forth a few trips to get it all moved in. His $300 Bose headphones took a walk from his desk in between those trips. Clearly a cadet theft. Yes, theft does happen and your cadet needs to be prepared for it. I thought it was a great learning experience. Goes all the way back to the first conversation - "Dad, why do I need a renters policy at WP" to later signing up for the policy and getting in the practice of paying for something on a monthly basis and finally how to file an insurance claim. Each step along the way was a learning moment. Highly recommend the USAA renters policy.
 
BlackKnight2016 said:
USAA renters insurance proved very helpful for our 2016 grad. In the library, left to go to the bathroom and put his cell phone on pile of books with all the other gear, came back and the cell phone was gone. Ended up in Texas when someone reached out and asked for the passcode to clear the phone - clearly stolen and shipped offsite - most likely visitor or someone else in the library? Next occasion he was moving gear from regular barracks to Brigade barracks for his leadership detail and all personal gear was piling up in one location after going back forth a few trips to get it all moved in. His $300 Bose headphones took a walk from his desk in between those trips. Clearly a cadet theft. Yes, theft does happen and your cadet needs to be prepared for it. I thought it was a great learning experience. Goes all the way back to the first conversation - "Dad, why do I need a renters policy at WP" to later signing up for the policy and getting in the practice of paying for something on a monthly basis and finally how to file an insurance claim. Each step along the way was a learning moment. Highly recommend the USAA renters policy.
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This is a USAA personal property policy designed just for the 5 SAs. Very low deductible, very low monthly premium, covers stuff in dorms, car, sponsor's house, home basement, while traveling, replacement value on class ring. The key is to identify as a SA cadet or mid. Extra coverage or riders can be added for really expensive items such as sports gear or an engagement ring. This helps with multi-product discounts on auto insurance down the road.

Above is to the best of my knowledge based on when I worked for them.
 
I'm getting the idea it's necessary to call USAA when signing up for Cadet renter's insurance because on-line I don't see anything that looks like it's designed just for the SA's.
 
brutus said:
I'm getting the idea it's necessary to call USAA when signing up for Cadet renter's insurance because on-line I don't see anything that looks like it's designed just for the SA's.
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Call. Service Academy Personal Property policy. Or stop into a USAA office in Annapolis, Co Springs, Highland Park. The cadet or mid will be the policy holder and is the one to complete the transaction. Many have the bill go to mom or dad's card as an auto charge.

There is no mad rush to get it. They don't have that much personal stuff right away. Many don't get it at all, insuring with the Parental Deep Pocket policy.

This is true to the best of my knowledge - I worked for them until a bit over a year ago.
 
Capt MJ said:
Call. Service Academy Personal Property policy. Or stop into a USAA office in Annapolis, Co Springs, Highland Park. The cadet or mid will be the policy holder and is the one to complete the transaction. Many have the bill go to mom or dad's card as an auto charge.

There is no mad rush to get it. They don't have that much personal stuff right away. Many don't get it at all, insuring with the Parental Deep Pocket policy.

This is true to the best of my knowledge - I worked for them until a bit over a year ago.
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Follow-up:
I texted a former colleague at the USAA office in Annapolis. Very easy once a mid and their name is in the DOD system. They go online to USAA, and if a new member, they select Navy and midshipman to establish eligibility, keep going to personal property/renter's and get a quote for MD using 21412 zip (the unique mid zip). You can wait till they are home on leave if you want to watch over a shoulder. Parallel for USMA, USAFA, USCGA, USMMA.
 
Thank you for the tips. We already signed up w/ USAA thanks to this forum so at least we are 1/2 way there.
 
The renter's policy that USAA offers also provides damage support to some electronics. I paid for it this year at a normal college and for like an extra $25 a year, your electronics are covered. DD got a $2500 MAC so well worth the extra money if it gets dropped. I see this the same way as the insurance. Pay a little more for the peace of mind and hope you never need it.
 
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