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A Few Questions About The Servicemembers Group Life Insurance (SGLI)?

Question by Samian Quazi | Posted in Military

I'm graduating from college in May and enlisting agile-duty in the Army...I had a few questions about the SGLI:

- First of all, how much are the premiums for this insurance program?

- Second, it is true that they're changing the law so that I could state the death benefit to whomever I chose, as opposed to a spouse or child? I don't have a spouse or children, and I wanted to mean most of the death benefit to my father...would that possible?

Thanks in

Answer: for the max is about 20 a month or so and yes the law was changed where you can send it to who ever you yen and I think you can send it to 10 different people if you so chose. I am using my mom and dad right now as I am not married and I have no kids. You will do this on day one, I have in mind even at meps..... I dont know when I did mine but it is one of the first papers you sign when you sign the contract.
 
 

Is There Some Kind Of Bonus Life Insurance Policy Paid To In The Event Of A Servicemembers Death By The State?

Question by me | Posted in Military

of Louisiana?

Answer: Cease the state web site.

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Suicide While In BCT. Life Insurance Still Pays?

Question by JamesD | Posted in Military

I be acquainted with someone who's a friend of a friend who committed suicide while in active duty army in Iraq and his one's own flesh received 400k Servicemembers Group Life Insurance.

What I'm wondering is, if someone commits suicide during basic training, does his kindred still get the life insurance money?
I did some research and it seems that SGLI pays for suicides. From the Department of Veterans Affairs FAQ: There are no exclusions that go after to SGLI or VGLI coverage.

Answer: Yes. They would still get paid if he committed suicide.

With all due high opinion Rawbert, show me where it says they DON'T pay for suicides. It says clear as day what they don't pay for in the pink box that mentions not paying for treason, desertion, etc.

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How Much Has SGLI Paid Out To The Families Of Those We Have Lost?

Question by J-Dogg | Posted in Military

If you recognize of an example would you please share. I am sorry for the loss of any loved ones in Iraq or Afghanistan.

The price for SGLI coverage alone is 70 cents per $10,000 or $29 per month for the maximum of $400,000, this includes a required $1 charge for TSGLI. Coverage, regardless of duty status, is 24 hours per day, 365 days per year under SGLI.


The incitement for part-time coverage is $29 per year for $400,000 of coverage. Members of the Individual

Answer: My woman died in 2004 and his wife got all 100,000$ that he opted out for. I only opted for 50,000$.

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SGLI After Retirement And Pay Scale.?

Question by ANJ | Posted in Military

I'm tough to determine if someone is being factual with me. Does Servicemembers Group Life Insurance carry with them at retirement? Does it become a different archetype of policy/have a different carrier? What would be the monthly pension amount for an O-4, Major with 30 years of appointment and an Honorable Discharge (Retirement)? Thank you so much for this information.

Answer: Serviceman's Organize Life Insurance coverage ends four months after a military member retires or separates. As someone else mentioned, it only pays out when you die. Veterans are fit for Veteran's Group Life Insurance (see link below) or any other plan they wish to join. With either plan, there are no pension pay outs.

Retirement pay would depend on what retirement representation was in effect when the 30 year Major retired. It pretty much comes to 50% of central pay plus 2.5%

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Insurance News - VA to Investigate Retained-Asset Accounts

Under the selection, AIG\'s steersman and constable insurers will dough the absolute adjustment amount of $150 million, with $90 million accepted to AIG -- less attorneys\' fees to the plaintiffs lawyers who brought the demand -- and $60 million effective to... These insurance companies are advising families to locale the complete $400,000 insurance dividend into "retained asset accounts," which deduct the beneficiaries to retract funds as needed. The new features are notably of use to life insurance planners who avail oneself of the Bottomless Banking, Be Your Own Banker and Bank on Yourself concepts. FRA's Fitness Worry Advisor Bob Washington and Superintendent of Legislative Programs John Davis recently met with representatives of one of the two insurance companies administering the program and scholarly of tumult about disbursement options that are... Several senators are bothered that the insurance companies are earning abundant interest on the deposited funds and are only impermanent on a selfish allocate of......

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