Comments on: How Much Life Insurance Do Military Members Need?

By: Ryan

Ryan — Thu, 01 Apr 2010 13:14:08 +0000

Thanks for the catch, JN.

By: JN

JN — Thu, 01 Apr 2010 09:52:42 +0000

You made a slight error in one of your questions above… you wrote “Should Military Members Purchase Private health insurance?” but I think you meant … Life ..insurance…

By: Ryan

Ryan — Wed, 23 Dec 2009 16:16:54 +0000

Becky, excellent point! I think it would be a good idea for people to look into getting additional life insurance around the halfway point in their career (of an assumed 20 year career) as life insurance policies should still be relatively affordable at that age, and still give them time to prepare for their post military retirement financial future.

By: Becky

Becky — Wed, 23 Dec 2009 15:59:33 +0000

your article fails to address one critical point: SGLI goes away when a military member retires or separates. You must get life insurance in place before you retire or separate. VGLI, the “after retirement SGLI” is much more expensive than SGLI and is usually only a good deal if you are leaving the service with a chronic illness or disability that will make life insurance more expensive on the economy. You also may want to look at purchasing private life insurance well before you retire, as it is always cheaper when you are younger. You may be overinsured for a time, but better to be overinsured than not insured at all. Take care of your dependents.