SGLI — Servicemembers' Group Life Insurance ($500K Max)
All active-duty service members are automatically enrolled in SGLI at $500,000 coverage for ~$31/month (premium auto-deducted from base pay). Best-in-class term life rate available anywhere — comparable civilian term policies at $500K for a healthy 30-year-old run $25-$40/mo, BUT with no military-specific underwriting hassle and no waiting period.
How to access
Restrictions
Add Family SGLI (FSGLI) for spouse up to $100K at $4.50–$48/mo depending on age + child coverage at $1/mo per child up to $10K each. Converts to VGLI within 240 days of separation — VGLI premiums increase with age, so most separating veterans convert SGLI to a civilian term policy instead UNLESS they have a health condition that would make civilian underwriting fail. CRITICAL: Update SGLI benefici
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