Because of the perilous circumstances in which they serve, members of the United States military on active duty have a particularly acute need for adequate term life insurance coverage. Through the U.S. government, military personnel may take advantage of the Servicemembers' Group Life Insurance (SGLI) program, which is low-cost life insurance available to members of all branches of the armed forces. In many cases, however, SGLI coverage is insufficient for soldiers, which is why supplementary military term life insurance is a popular choice among military personnel. Read on to learn why you might consider a term life military insurance policy if you are on active duty.
Soldiers put their lives on the line as soon as deployment occurs, and of course they want to protect the loved ones they leave behind while on their tour of duty. Consequently, most service members choose to opt in to SGLI, which allows military personnel to purchase life insurance in $50,000 increments up to a maximum of $400,000. For service members with young children, large families, or significant amounts of debt, however, SGLI may not be enough. In these cases, members of the armed forces explore private military term life insurance to supplement or replace their SGLI policies.
In recognition of service members' sacrifice, most life insurance carriers tend to offer extremely generous and fairly priced term life insurance military policies. Such policies are intended to meet the unique needs of military personnel and afford maximum financial protection to the dependents of active members. Private military term life insurance typically offers the following special benefits to people in the armed forces: