Life Insurance for Military Families: Which of these apply to you?
Non-profit USBA helps active duty, retired, transitioning military and their families find the right life insurance protection for their needs. Click on the scenario that applies to you below to find a guide for your specific situation.
1. Your spouse is about to separate from the military.
Servicemembers’ Group Life Insurance (SGLI) coverage on the military member will expire 120 days after his/her separation date. So does any Family Servicemembers’ Group Life Insurance (FSGLI) that covers you and your children.
Don’t wait until after your spouse leaves the military to look for life insurance to replace this important coverage. You can eliminate the stress of a ticking time clock by choosing affordable protection and submitting your applications for coverage now.
2. Your spouse has already separated from the military.
Now the clock is ticking and you’re on a mission to find affordable life insurance to replace SGLI and FSGLI. Walk through these 4 simple steps
to find out how much you need and for help selecting the right products to get your family covered right away.
3. Your spouse is still on active duty in the Army, Navy, Marines, Air Force or Coast Guard.
Unless your active duty spouse has declined SGLI, they are covered. But often times SGLI, which maxes out at $400,000, is not enough. Use this needs estimator
to calculate the total benefit amount you and your active duty spouse currently need. If it’s over $400,000, you may consider purchasing an affordable plan from USBA to supplement SGLI. If your needs are more than the $100,000 FSGLI coverage offers, it may be a good idea for you to supplement your life insurance as well.
4. You and your active duty spouse want to supplement SGLI with portable insurance you can keep no matter how many times you change jobs in civilian life.
If your family needs more than the $400,000 SGLI benefit and $100,000 spouse coverage with FSGLI, supplementing with other plans are crucial. But another big advantage for supplementing now is having portable coverage that can stay in place when your spouse leaves the military, either of you change jobs, go back to school, or wherever life takes your family. USBA offers portable term, whole life or blended group life insurance plans for all your eligible family members
5. You and your spouse are looking for military-friendly coverage that includes additional benefits like an Emergency Death Benefit and a Living Benefit.
Offered on most USBA life insurance plans, these benefits can be very valuable. The Emergency Death Benefit can pay a policyholder’s spouse beneficiary an emergency payment of up to $15,000 on telephone notification of their death. This payment may be very helpful at a time when other money may be tied up for your family and hard to access. Some restrictions may apply.
The Living Benefit is an accelerated death benefit that can pay a policyholder an amount equal to 50% of their coverage force, while they are living if diagnosed with a terminal condition.* This can help protect your family from excessive medical bills, loss of income and other expenses even while the policyholder is still living.
6. You’ve recently remarried and now have additional financial responsibilities for your blended family.
Any major life change requires a reassessment of your life insurance coverage. Make sure the coverage you and your spouse have is keeping pace with those changes by performing a new needs assessment
. Usually an increase in financial responsibilities means considering an increase in life insurance.
7. You’ve recently married and you now have more than just yourself to think about.
You might have heard the saying, “Life insurance isn’t for you… it’s for the ones you love.” If you’ve recently married, it’s critical that each of you have adequate coverage so your spouse won’t be left with a large financial burden should something happen to you.
Did you know USBA offers a Double Value TWO for ONE Group Level Term plan for married couples? It keeps things simple by providing the same amount of coverage on both of you with just ONE premium to pay. Check it out here.
8. You and/or your spouse are over 50 and looking for permanent lifetime coverage with cash value and guarantees.
If you’re looking for coverage you can keep for the rest of your life, USBA offers a Group Whole Life plan for just that purpose. The premium will never increase and it builds cash value you can use to borrow against for unexpected expenses. More on this plan here
9. You and your spouse have a new addition in your family and you want to make sure there’s money for college should something happen to you.
Congratulations! Any new addition to your family means taking a look at your life insurance plan. It can be used to help cover future expenses like college tuition and more immediate expenses like childcare should something happen to you and your income is no longer available to contribute.
You can also start your child out on the road to financial peace of mind with USBA’s First Steps Group Whole Life insurance. The best time to start life insurance for your child is when they are young and in good health. Beginning a life insurance program today protects your child’s ability to be covered by life insurance in the future. And since it’s a whole life plan, it also accumulates cash value over time!
10. You want to make your own insurance decisions in the privacy of your home. But you’d also like to know you can talk with someone knowledgeable about your choices, someone who understands the unique needs of those who serve in the military
USBA offers the tools to select the right life insurance plan and even apply online. But sometimes you just need to talk to someone. Product Specialists at USBA are trained to help you make the right choice for your unique situation and have experience working with military couples. In fact, the average Product Specialist has been serving USBA Members for 24 years!
USBA stands ready to assist you and your family. Get a free quote online—there’s no obligation. Or call 1-877- 221-6841 to get answers to your questions.
*Be sure to review the plan information for each of USBA’s life insurance products for detailed information about which benefits are offered.
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