Retired Military Life Insurance
Whether you are currently enlisted in the military or retiring from duty, it is important to get and keep your military life insurance. Special benefits and discounts are offered to those who have served in the military. Veteran life insurance can be found with various insurance providers, such as the Veterans Group Life Insurance (VGLI). This provider allows you to convert from your Servicemembers Group Life Insurance after retiring. A maximum of $400,000 is available. The coverage is issued in groups of $10,000 (which can not exceed the max). There are various eligibility requirements that pertain to those looking to obtain Veteran’s life insurance.
Other Policies with Discounts for Retired Military
Many other life insurance providers will offer discount premium rates to veterans of the military. You can find various plans that will cater to your needs and quotes can be obtained online, so that you can compare and contrast what you have found.
The USBA, Uniformed Services Benefits Association, offers different plans that cater to families and individuals. You are able to choose how much your family needs; between $25,000 and $500,000. The rates aren’t always a guarantee, but the first ten years of coverage are locked. This option is called the Smart Value 10. For families, the plan offered is called the Two for One Family Plan. With this, you and your spouse receive the same amount of coverage for life insurance; it then pays for whoever dies first. There is only one premium to pay for this option.
Other plans are also available, so it is important to take a look at them all before deciding which to purchase. Compare benefits and quotes to ensure that you are getting the best veteran insurance out there.