Life Insurance for Military Dependents

Life insurance for military dependents comes in two main forms: private policies and the government FSGLI program. The FSGLI program is offered through the VA and entitles the dependents of military members affordable term life insurance. This policy is tied to the military members' service and only offers a maximum of $100,000 in coverage.

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Natasha McLachlan is a writer who currently lives in Southern California. She is an alumna of California College of the Arts, where she obtained her B.A. in Writing and Literature. Her current work revolves around insurance guides and informational articles. She truly enjoys helping others learn more about everyday, practical matters through her work.

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Laura Walker graduated college with a BS in Criminal Justice with a minor in Political Science. She married her husband and began working in the family insurance business in 2005. She became a licensed agent and wrote P&C business focusing on personal lines insurance for 10 years. Laura serviced existing business and wrote new business. She now uses her insurance background to help educate...

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Reviewed by Laura Walker
Former Licensed Agent

UPDATED: May 2, 2021

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The Rundown

  • Military dependents can get life insurance through the government FSGLI program as well as private insurance policies
  • The FSGLI program offers discounted term life insurance rates as long as the military member has a full-time SGLI policy
  • FSGLI policies are more affordable than most private policies but only offer a maximum of $100,000 in coverage and are tied to the military member’s service

Are you in the market for life insurance for military dependents? There are several options available to military spouses who want to find affordable life insurance.

Keep reading to learn about the government and private programs available to military families and which option is right for you.

Are you ready to start looking for an individual life insurance policy asap? Enter your ZIP code above, and we will help you find affordable life insurance for military dependents today.

What life insurance options are there for military dependents?

Military dependents have two main options for life insurance policies; the FSGLI program and private insurance. The FSGLI program is a branch of the Servicemembers Group Life Insurance program run through the VA.

This branch specifically caters to the dependents of military members and provides them with term life insurance.

Private insurance companies are still an option for a military spouse. However, not every private insurance company will cover military personnel serving in active combat zones. This limits the number of insurers who will be able to provide military family insurance coverage.

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What is the most affordable life insurance for military spouses?

FSGLI generally offers the lowest rates for life insurance policies for military spouses starting at $4.50 for $100,000 in coverage.

However, to qualify for a policy through FSGLI, the service member must have their own policy through the SGLI program.

$100,000 in coverage starts at $7 per month, so altogether, there would be a monthly premium of $11.50. This is still a good rate given that you are receiving two separate policies.

A private quote from AAFMAA starts at $6.40/mo for an individual policy. If the service member was not looking to purchase any life insurance, but a spouse still wanted a discount, this may be a more affordable option.

However, if the military member is still planning on getting a life insurance policy, you may find yourself paying more by purchasing the policies separately.

The Pros and Cons of Life Insurance for Military Dependents

The biggest benefit to purchasing a military dependent’s life insurance policy is the cost. In particular, FSGLI policies are very affordable and provide a healthy amount of coverage.

While military spouse benefits come in many shapes and sizes, affordable life insurance is one of the most important long-term benefits available.

Another big pro of the FSGLI and SGLI programs is that they are directly paid for through your spouse’s paycheck.

The government does everything automatically, making it easy to maintain and fewer things you need to worry about.

The main con of purchasing an FSGLI life insurance policy is that it is tied to your spouses’ military employment. If your spouse separates from the military or passes, FSGLI provides you 120 days to transfer the policy out to a private insurer.

Private policies generally do not tie their coverage to military service, despite providing affordable rates to military spouses. Once your spouse leaves the military, or should they pass, these policies generally remain intact.

Many private policies will also have additional coverage options and riders that can make them more beneficial, helping to offset their higher cost.

The best thing to do before making your final decision about where to purchase life insurance is to shop around. Compare military life insurance quotes from multiple companies, then check your budget and see what makes the most sense for you and your family.

Are you ready to start looking for life insurance for military dependents? Enter your ZIP code below, and we will help jumpstart your search.

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