Comparing*life*insurance - Military Times
Comparing
life
insurance
All
active--duty
service
members,
Ready
Reservists
and
National
Guard
members
are
automatically
covered
by
Servicemembers'
Group
Life
Insurance,
a
government--sponsored
program
with
a
maximum
benefit
of
$400,000.
Troops
can
opt
out
of
SGLI
or
add
to
that
coverage
using
private--sector
insurers.
Upon
leaving
the
military,
troops
qualify
for
the
companion
program,
Veterans'
Group
Life
Insurance.
How
14
life
insurance
options
compare
to
SGLI
and
VGLI.
All
active--duty
service
members,
Ready
Reservists
and
National
Guard
members
are
automatically
covered
by
Servicemembers'
Group
Life
Insurance,
a
government--sponsored
program
with
a
maximum
benefit
of
$400,000.
Troops
can
opt
out
of
SGLI
or
add
to
that
coverage
using
private--sector
insurers.
Upon
leaving
the
military,
troops
qualify
for
the
companion
program,
Veterans'
Group
Life
Insurance.
Wherever
possible,
premiums
listed
are
for
$400,000
coverage,
the
maximum
offered
under
SGLI.
Some
plans
have
lower
maximums;
the
premiums
listed
for
those
are
for
that
maximum
amount.
Similarly,
some
plans
offer
more
than
$400,000
in
coverage
for
higher
premiums
than
are
listed
here.
While
VGLI
doesn't
provide
spouse
coverage,
spouses
with
coverage
through
SGLI
can
convert
their
coverage
to
an
individual
permanent
plan
within
120
days
after
the
service
member
leaves
the
military,
or
other
key
events. Key:
NS
=
nonsmoker;
AD
=
active
duty;
NG
=
National
Guard;
R
=
Reserve;
PB
=
Preferred
Best
underwriting
class;
PS
=
Preferred
Smoker
underwriting
class.
How
14
life
insurance
options
compare
to
SGLI
and
VGLI:
SGLI
Monthly
$29*
premium:
Age
30,
$400,000
Monthly
$5
premium:
Spouse
age
30,
$100,000
Monthly
$29*
premium:
Age
45,
$400,000
Monthly
$13
premium:
Spouse
age
45,
$100,000
Monthly
$29*
premium:
Age
60,
$400,000
Monthly
$50
premium:
Spouse
age
60,
$100,000
VGLI
AAFMAA
AFA
$40
$18.15
$26.56
AFBA $32
NS
N/A
$5.90
NS
$2.52*
$8
NS
$88
$18.15
$57.60
$32
NS
N/A $432
$5.90
NS $86.20*
$5* $319.04
$8
NS $352
NS
N/A
$14.20**
$33.32*
$88
NS
AFSA
AUSA
$16
NS
(for
max.
$25
(for
$200,000
max.
coverage)
$250,000
coverage)
$8
NS
$10
$54.72
NS
(for
max.
$200,000
coverage)
$27.36
NS
$57.50
(for
max.
$250,000
coverage) $23
$228.72
NS
(for
max.
$200,000
coverage)
$114.36
NS
$252.50
(for
max.
$250,000
coverage) $101
Type
of
plan Eligibility
SGLI Group
term
VGLI Group
term
AD/NG/R
Coverage
Recently
remains
in
effect
for
separated
free
for
120
days
service
after
separation.
members* Members
who
are
totally
disabled
at
separation
can
apply
for
up
to
2
years
of
free
SGLI
coverage
from
separation.
AAFMAA Individual
term
life AD/NG/R,
retired;
also
veterans
in
AZ,
CT,
FL,
HI,
MD,
NC,
OK,
OR,
RI,
SC,
VA
AFA Group
term
Veteran,
spouse/widow
or
ancestor/lineal
descendant
of
veteran
AFBA Group
term
AFSA Group
term
AUSA Group
term
AD/NG/R,
retirees,
Air
Force
AUSA
veterans
and
AD/NG/R,
members
spouses
retirees,
veterans
and
spouses
and
families.
Must
under
65
be
under
age
65
to
apply.
Maximum
$400,000
member;
$400,000
$1
million
$500,000
until
$400,000
coverage
$100,000
spouse
age
65;
$50,000
after
age
65
Health
exam
No**
No,
within
Depends
on
type
Yes
For
member,
no
required?
240
days
of
of
policy
and
health
exam
up
to
separation responses
to
49
for
$250,000
application
coverage
and
age
questions
59
for
$100,000
coverage
Is
policy
portable
Conversion
either
to
Yes,
lifetime,
Yes
Yes
if
separates;
Yes
if
individual
a
VGLI
term
policy
or
renewable
no
if
ends
separates
from
to
a
permanent
plan
membership
military
or
ends
with
a
private
membership
in
insurer
is
guaranteed
organization? if
done
within
set
time
periods.
$200,000
$250,000
Usually
no,
Yes
depending
on
answers
to
health
questions*
Yes
if
separates;
Yes
if
no
if
ends
separates;
membership.
May
no
if
ends
convert
policy membership
SGLI Can
the
term
Yes policy
be
converted
to
a
permanent
insurance
policy
such
as
whole
life
without
complete
underwriting/heal th
exam?
Organization
one-- None
year
membership
dues
Limitations
on
No
aviators,
flight
crews,
others?
War
clause
No
Partial
premium
No
refunds
Premium/coverag To
separation
or
e
at
age
30
rate
retirement
stays
same
how
long?
Premium/coverag To
separation
or
e
at
age
45
rate
retirement stays
same
how
long?
Premium/coverag To
separation
or
e
at
age
60
rate
retirement stays
same
how
long?
VGLI
AAFMAA
Yes
Yes
None
None
No
No
No
No
No
No
To
age
35,
20
years
NS then
rises
every
5
years
to
age
75
To
age
50,
5
years
NS then
rises
every
5
years
to
age
75
To
age
65,
5
years then
rises
every
5
years
to
age
75
AFA
AFBA
Yes
Yes
45
No
No Yes 10
years
None
No
No No 20
years
5
years
5
years
5
years;
at
age
10
years 65,
coverage
reduced
by
half
or
to
$50,000,
whichever
is
less
AFSA Yes
$25
No** No No 5
years
5
years
5
years
AUSA Yes
$14
to
$39,
based
on
paygrade No No No 5
years
5
years
5
years
SGLI
Coverage
Yes***
available
for
child?
Company/organiz Servicemembers'
ation,
website Group
Life
Insurance,
insurance.
Notes
*
Includes
$1
for
VGLI
AAFMAA
AFA
No
Yes***
Yes
Veterans'
American
Armed
Air
Force
Group
Life
Forces
Mutual
Association,
Insurance,
Aid
Association
insurance.va. (formerly
Army
gov
and
Air
Force
Mutual
Aid
Association),
*Leaving
*Male.
**
Female
Coverage
AFBA Yes
AFSA Yes
AUSA Yes
Armed
Forces
Air
Force
Benefit
Association,
Sergeants
Association,
Association
of
the
U.S.
Army,
ausa.o rg
Spouse
and
children
*AFSA
members
N/A
FRA
Monthly
$10.50
NS
premium:
Age
30,
(for
max.
$400,000
$150,000
coverage)
JWV $32.60
NS;
$66.08
smoker
MBA $23.20
MOAA
NAUS
$10.40
$14**
Preferred
NS*;
$17.60
Standard
NS
Navy
MutualPrudential $12.40*
$32
PB;
Male
NS $113
PS
Male
ROA $22.80
NS
USAA
Life $21.49
Male*
Monthly
$7
NS
premium:
Spouse
age
30,
$100,000
$8.16
NS;
$5.80
$16.52
smoker
Monthly
$40
NS;
(for
$105.28
$40
premium:
Age
45,
max.
NS;
$400,000
$150,000
$245.28
coverage) smoker
Monthly
$26.67
NS $26.32
$10
premium:
Spouse
NS;
age
45,
$100,000
$61.32
smoker
$2.70
$9**
Preferred
NS*;
$4.60
Standard
NS
$36
$27.75**
Preferred
NS*;
$60
Standard
NS
$9.50
$12.75**
Preferred
NS*;
$15.80
Standard
NS
$7.70*
$15
PB;
$32
$4.77
NS Female
NS PS
Female
$12.74
Female*
$31.20*
Male
NS
$76
PB;
$332
PS
Male
$83.60
NS
$49.82
Male*
$11.10*
$23
PB;
$69
$17.90
NS Female
NS PS
Female
$19.07
Female*
Monthly
$168.25
NS
$430.08
premium:
Age
60,
(for
max.
NS;
$400,000
$150,000
$821.28
coverage) smoker
$190.32
Monthly
$112.17
NS $107.52
premium:
Spouse
NS;
age
60,
$100,000
$205.32
smoker
$47.58
$150
$104**
Preferred
NS*;
$250
Standard
NS
$39.50
$35.50** Preferred
NS*;
$65.80
Standard
NS
$120*
Male
$212*
PB;
$334.40
NS
NS
$681*
PS
Male
$204.15
Male*
$26.80*
$47*
PB;
Female
NS $144*
PS
Female
$70.30
NS
$47.49
Female*
Type
of
plan
Group
term Group
Group
term Group
term Term term
Individual
term
30--year
individual
level
term
Group
term
Individual
level
term
Eligibility
FRA
JWV
MBA
MOAA
NAUS
Current
and
Under
65
Active
and
MOAA
Ages
18--85,
former
and
U.S.
retired
members
veterans,
enlisted
resident military
and
and
spouses retirees,
members
of
spouses
spouses
and
Navy,
survivors
Marine
Corps,
Coast
Guard,
under
age
70
Navy
MutualPrudential ROA
USAA
Life
AD,
R,
Age
18
to
55
Reserve,
All
retired
NS**;
age
active,
retired
military
18
to
45
for
and
former
members;
smokers** officers
and
and
warrant
honorably
officers
under
discharged
age
60
and
veterans
actively
residing
in
working;
and
AZ,
CT,
HI,
their
spouses,
MD,
NC,
RI,
widows
and
SC,
VA
widowers
Maximum
coverage Health
exam
required?
$150,000
$500,000
$1
million $1
million $2
million $1
million $65
million $500,000
$10
million
Minimal
Yes
Case--by-- Yes
Case--by--case
Yes
Yes
Depends
on
Yes
questions
case
basis
basis,
level
of
depending
on
coverage
the
carrier
requested
and
the
age
of
the
member.
Is
policy
portable
Yes
if
Yes
if
Yes
if
Yes
if
Yes
if
Yes
Yes
Yes
if
Yes
if
individual
separates;
separates;
separates;
separates;
separates;
no
separates;
no
separates
from
no
if
ends
no
if
ends
no
if
ends
no
if
ends
if
ends
if
ends
military
or
ends
membershi members membershi membershi membership
membership
membership
in
p*
hip
p
p.
organization?
FRA Can
the
term
Yes policy
be
converted
to
a
permanent
insurance
policy
such
as
whole
life
without
complete
underwriting/heal th
exam?
Organization
one-- $30
year
membership
dues
Limitations
on
No
aviators,
flight
crews,
others?
War
clause
No
Partial
premium
No refunds Premium/coverag 5
years e
at
age
30
rate
stays
same
how
long?
JWV
MBA
Yes
Yes
Varies
by
None
post;
minimum
usually
$35
No
No
No
No
No
No
5
years 5
years
MOAA Yes
$40
No No No 5
years
NAUS
Navy
MutualPrudential ROA
Depending
on
Yes
Yes,
until
Yes
carrier
and
the
end
of
amounts
the
level
premium
period
or
policy
anniversary
on
or
after
insured's
65th
birthday,
whichever
is
earlier,
but
may
not
be
less
than
5
years.
$25
single;
None
N/A
$55
$45
joint;
$19
widow/widow
er
Depending
on
No
carrier
and
amounts
Depending
on
No
carrier
and
amounts
Yes
No
Yes;
varies
No
based
on
flying
time
No
No
Yes
No
10
years
15
years 30
years 5
years
USAA
Life Yes
None No No Yes 20
years
FRA Premium/coverag 5
years e
at
age
45
rate
stays
same
how
long? Premium/coverag 5
years e
at
age
60
rate
stays
same
how
long?
JWV
MBA
5
years 5
years
5
years 5
years
MOAA 5
years
5
years
NAUS 10
years
10
years
Navy
MutualPrudential ROA 15
years 30
years 5
years
15
years 20
years*** 5
years
USAA
Life 20
years
20
years
Coverage
Yes
Yes
Yes
Yes
Depends
on
Yes
Yes
No
Yes
available
for
carrier
chosen
child?
Company/organiz Fleet
Jewish
Military
Military
National
Navy
Prudential,
Reserve
USAA
Life,
ation,
website Reserve
War
Benefit
Officers
Association
Mutual
prude Officers
Association,
Veterans
Association,
Association
for
Uniformed
(formerly
Association,
of
the
militar of
Services,
Navy
U.S.,
America,ww Mutual
Aid
jwv.
w.
Association)
org
,
navym
................
................
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