SGLI Term life question

[helmsdown]

DD is working on the PTR package and she comes across the SGLI forms. Does anyone know what the term is? When I bought my policy it was for 20 years at $XXX per year. I have searched the forum but don't see what the term is and if the rate is locked in.

 

[Capt MJ]

DD is working on the PTR package and she comes across the SGLI forms. Does anyone know what the term is? When I bought my policy it was for 20 years at $XXX per year. I have searched the forum but don't see what the term is and if the rate is locked in.

It's an employer group life policy, with Uncle Sam being the employer - covers while on AD and specific periods for Guard and Reserve. After separation, I think coverage goes for 180 days after date on DD-214 document for separation or retirement. There are occasional rate upticks, but they apply to all.

No combat exclusion or war clause, of course.

https://www.dfas.mil/militarymembers/paydeductions/sgli.html

http://www.benefits.va.gov/insurance/sgli.asp


https://www.benefits.gov/benefits/benefit-details/585

 

[helmsdown]

Thank you Capt MJ

 

[Capt MJ]

You're welcome!

 

[697biling]

I have what may be a silly question regarding the SGLI form. In the About You box, it asks for rank and branch. Considering that we're not technically Midshimen yet, do we leave those boxes blank?

 

[Capt MJ]

I have what may be a silly question regarding the SGLI form. In the About You box, it asks for rank and branch. Considering that we're not technically Midshimen yet, do we leave those boxes blank?

Given that the form is designed to start coverage on I-Day, the day you are a Navy midshipman, I think you are good to go.

 

[ktnatalk]

You can put MIDN 4/C for rank and US Navy or USN for branch.

 

[NotCollegeMom]

Assuming DD decides to get a life insurance policy is there any advantage to going with the policy offered in the PTR package versus USAA policy?