How much life insurance does the Army provide to military personelle?

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Asked September 9, 2013

1 Answer

When you join the military, whether it is the Army, Navy, Air Force, Marines, or the Coast Guard, you are automatically enrolled in a life insurance program through the Armed Forces Veterans Administration. The automatic enrollment is for the maximum value of $400,000, but you have the option of reducing or canceling the policy.

Like other life insurance policies, the military life insurance policy allows you to name or more beneficiaries that the policy will pay the settlement to if you should die. If you complete your enrollment, you will be allowed to continue the policy through the VA program after you have been honorably discharged. Technically, the active duty life insurance is known as Servicemembers' Group Life Insurance, or SGLI, and the coverage for veterans is known as Veterans Group Life Insurance, or VGLI, but both are variations of the same policy.

If you decide to decrease the amount of coverage in your policy, you are allowed to do so in $50,000 increments. In other words, you can reduce the amount of your military life insurance, but only in specified amounts, or you can cancel the policy completely. So you wouldn't be able to change it to a $225,000 policy, but you could change it to a $200,000 policy.

Military life insurance quotes tend to be very affordable. This is partly because of the strength of purchasing in such a large group, but it is also based on the idea that service members have already been screened for physical and health problems and are considered to be in good to excellent physical condition. Since the armed forces will not accept many preexisting health conditions, the insurer is assured of having a lower than average mortality rate.

Answered September 9, 2013 by Anonymous

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