If you are the only supporter of your family, then you will need more life insurance than if you were a single military member with no dependents or elderly parents relying on your income for survival.
For most military, the SGLI (Servicemembers’ Group Life Insurance) is a great option because it is available to all military and will pay even if you die from an act of war, riot, or other event (many private insurance policies have a rider that excludes death from civil unrest, acts of war, etc.). SGLI life insurance also includes a long term disability rider called TSGLI (Traumatic Injury Protection coverage).
If you are in the Military and have or shop private life insurance, read your policy carefully before paying, so you are covered at all times, including war or riots.
SGLI have very competitive rates because it's government sponsored and offers troops life insurance coverage of $400,000 for only $27 per month.
If you feel the need to buy more than $400,00 in coverage, consider buying life insurance from a private life carrier. Remember, the military will bury you for free. Shop multiple life insurance companies via the green zip code box above to find the best deals. You can shop life insurance carriers by inputting your zip code, making your shopping experience easier.
When I was young and in the army, I noticed many of my friends buying the maximum amount of life insurance through the SGLI. The maximum coverage is $27 per month ($324/yr), which is a lot of money to spend when you don’t need much, if any, life insurance coverage. If you are single and do not have any dependents, you can get away without any insurance, or only the minimum. You can buy a $50,000 policy for $4.45 per month ($51/yr). A $50,000 life insurance policy should be enough to pay off most debts and cover any other expenses.
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