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.
References in periodicals archive ?
Barnum said MBA's Term 90 plan, which provides coverage to age 90, has rates below that of the government-subsidized Servicemembers' Group Life Insurance, and be questioned why the government should still be in the business of providing life insurance products to the military.
Coverage for children up to age 18--or 23 if a full-time student--is free and automatic, as long as the soldier is participating in Servicemembers' Group Life Insurance.
(112) Id.; Servicemembers' Group Life Insurance Election and Certificate, Form 8286 (Sept.
2968 would eliminate the required reduction in the amount of accelerated death benefits payable to certain terminally-ill people insured under Servicemembers' Group Life Insurance or Veterans' Group Life Insurance.
In a move designed to better take care of the families of military members who are killed or who suffer traumatic injuries, benefits provided through the Servicemembers' Group Life Insurance program automatically increased effective Sept.
Many veterans who receive catastrophic disabilities can achieve this through Traumatic Servicemembers' Group Life Insurance (TSGLI).
109-80, the Servicemembers' Group Life Insurance Enhancement Act, on September 30.
The legislation also provides for an increase in the Servicemembers' Group Life Insurance (SGLI) from the current level of $250,000, to $400,000.
More recently, it has been adapted to Servicemembers' Group Life Insurance (SGLI) or Veterans' Group Life Insurance (VGLI) coverage.
The VGLI program allows former military personnel to convert their Servicemembers' Group Life Insurance (SGLI) coverage to lifetime renewable, five-year term-life insurance.
The Veterans Program Enhancement ct, signed into law on November 11, 1998, established an option for VA to pay accelerated death benefits under the Servicemembers' Group Life Insurance (SGLI) and Veterans' Group Life Insurance (VGLI) programs.