SGLI is a great program that provides low-cost term life insurance coverage to eligible Servicemembers and important to know how it works. For instance did you know that If you qualify for SGLI, you are automatically enrolled and do not need to apply for coverage. If eligible, you are automatically issued the maximum SGLI coverage of $400,000. When you retire or separate from service you maintain that coverage for 120 days free of charge. You must apply to convert to VGLI within one year and 120 days from discharge. Knowing how this works can be the difference between being financially prepared later in life or paying the higher rates for the insurance at your current age at retirement. Check out how the VGLI rates work
As you can see the rates get expensive rather quick. Schedule an appointment today to see how this applies to you and what other options are available to you to insure your money is working the hardest and smartest for you possible, tax free.