Summer 2004
Married couples – especially with children or if a child is on the way – need at least some life insurance to protect survivors against financial hardship. But how much is enough? Servicemembers’ Group Life Insurance (SGLI) provides a strong foundation of protection for families of active-duty military personnel and ready reservists.
Currently, for just 65 cents a month per $10,000 of coverage, regardless of age, service members may purchase up to $250,000 of life insurance. This is very inexpensive relative to civilian insurance, and the policy is convertible (at higher rates) upon leaving the service. Spouse coverage is limited to $100,000, so private insurance may be needed for those requiring more comprehensive coverage.
For details, go to the Veterans Administration’s insurance web page, www.insurance.va.gov.
* * * * *