http://traffic.libsyn.com/militarywallet/TMW_031_Military_Life_Insurance.mp3Podcast: Play in new window | DownloadSubscribe: Apple Podcasts | Android | Google Podcasts | RSSFTC Disclosure: This article was sponsored by USAA. Although this post is sponsored, all opinions are my own. Life insurance isn’t the most glamorous topic to discuss. It forces us to face the inevitable fact that life on earth is […]
This is the second of a two-part article, designed to outline why SGLI isn’t enough life insurance for most military families. Part one discussed SGLI coverage on the servicemember. This article discusses the reason why Family Servicemembers’ Group Life Insurance (FSGLI) – Life Insurance is usually not enough to cover the death of a spouse. […]
Most people know that SGLI is the cheapest life insurance available. Full coverage under SGLI costs $28.00/month for $400,000 in coverage (or about 7 cents/month for every $1,000 in coverage). Unfortunately, this creates two problems: SGLI’s pricing leads people into thinking that all life insurance should be this cheap. The $400,000 ceiling leads many people […]
In the military, we’re used to thinking of life insurance as $400,000 in SGLI, whether we need it or not. However, that’s a ‘one size fits all’ type solution, which isn’t the right answer for most situations. If we think outside of this box, it’s usually because some helpful insurance salesperson comes along and tells […]
You most likely have insurance policies on your home, vehicles, personal property, and even your cell phone to protect yourself financially if damages or an accident were to occur. Do you have life insurance to protect your family? If you don’t yet have a life insurance policy, now is the time to consider your options […]
You might wonder why I wrote an article that seemed to advocate SBP, then followed it up with an article that seemed like SBP-bashing. I did so for two reasons. First, both articles seek to provoke critical thinking…I think I soundly met that objective. Second, putting those two articles side by side shows my true focus…when you’re looking at your decision to retire from the military, you need to make sure you address SBP properly. After all, if you make the wrong decision, you’re stuck with it. With that said, I got hit up on both sides of the debate.
Life insurance is an important part of financial planning, especially when your job often requires you to put your life on the line. Thankfully, military members have access to inexpensive life insurance through the Servicemembers Group Life Insurance program or SGLI. SGLI is a low-cost life insurance program available to military members. Family members are […]