Servicemembers Group Life Insurance

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Servicemembers Group Life Insurance

Also called SGLI. Life insurance offered by the Veterans Administration to members of the United States uniformed services. Premiums on SGLI are very low and the death benefit is very high. Benefits are also paid for traumatic injuries.
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While Laneri was able to designate her partner as a primary beneficiary on her SGLI, the designation of a non-relative raised eyebrows and could have led to additional scrutiny.
14) Under the Act, however, a beneficiary could place the entire death gratuity and SGLI policy proceeds in the Roth IRA account at the same time and without penalty.
Seeing none, I'll ask that you report to my office with a letter detailing your reasons for not having SGLI.
Note that SGLI is available only to active-duty and Reserve-component Soldiers, and for 120 days after leaving active duty.
Since 1965, Prudential has administered SGLI, providing financial protection for survivors of military personnel.
Traumatic SGLI benefits will be retroactive for troops who have lost limbs, eyesight or speech or received other traumatic injuries as a direct results of injuries received during Operation Iraqi Freedom or Operation Enduring Freedom.
As a type of group term life insurance policy, SGLI provides life insurance protection at a relatively low cost because it is a group policy partially subsidized by Congress.
We discovered while handling the case for the grieving family that a recruiter or his unit had talked him into opting out of SGLI because he was single, not making much money yet and was so young," Sergeant Roldan said.
For example, they cannot be used to vote in state and federal elections, to create wills, or to change beneficiaries for SGLI or VGLI life-insurance coverage.
As a veteran, myself, I am not going to tell a serviceman to drop his SGLI coverage - these proposed boosts make it a smart decision to have such coverage while in a combat zone.
By doing so, I have avoid some situations that, after a beer at the club, have made the hair on the back of my neck stand on end with the thought of losing the SGLI sweepstakes.
This retroactive benefit is payable whether or not the Servicemember had SGLI coverage at the time of the injury.