A few question roughly speaking the Servicemembers Group Life Insurance (SGLI)?
I'm graduating from college in May and enlist active-duty in the Army...I had a few question about the SGLI:
- First of all, how much are the premiums for this insurance program?
- Second, it is true that they're varying the law so that I could designate the death benefit to whomever I chose, as unwilling a spouse or child? I don't have a spouse or children, and I wanted to designate most of the release benefit to my father...would that possible?
Thanks in advance!
Answers:
you could ALWAYS designate whomever you darned well pleased as a beneficiary.
the premiums are negligible for the amount of coverage you return with. DH pays $29/month for his( max amount) and $9 for the Family SGLI for me.
T e max is I believe $400K.
I am within the Air Force for now and the SGLI doesn't cost you money they might take some out of your paycheck respectively month but you don't have to directly pay money. You can supply it to anybody in your immediate clan. So you can give the money to your father. Mine goes partly to my dad and the other half to my mother. Hope that answers your questions. And thankfulness a lot for being one of the few to stand up and disagree for your country.
for the max is around 20 a month or so and yes the law was changed where on earth you can send it to who ever you want and I think you can convey it to 10 different people if you so chose. I am using my mom and dad right now as I am not married and I hold no kids. You will do this on day one, I think even at meps..... I dont know when I did mine but it is one of the first papers you sign when you sign the contract.
Related Questions:
- First of all, how much are the premiums for this insurance program?
- Second, it is true that they're varying the law so that I could designate the death benefit to whomever I chose, as unwilling a spouse or child? I don't have a spouse or children, and I wanted to designate most of the release benefit to my father...would that possible?
Thanks in advance!
Answers:
you could ALWAYS designate whomever you darned well pleased as a beneficiary.
the premiums are negligible for the amount of coverage you return with. DH pays $29/month for his( max amount) and $9 for the Family SGLI for me.
T e max is I believe $400K.
I am within the Air Force for now and the SGLI doesn't cost you money they might take some out of your paycheck respectively month but you don't have to directly pay money. You can supply it to anybody in your immediate clan. So you can give the money to your father. Mine goes partly to my dad and the other half to my mother. Hope that answers your questions. And thankfulness a lot for being one of the few to stand up and disagree for your country.
for the max is around 20 a month or so and yes the law was changed where on earth you can send it to who ever you want and I think you can convey it to 10 different people if you so chose. I am using my mom and dad right now as I am not married and I hold no kids. You will do this on day one, I think even at meps..... I dont know when I did mine but it is one of the first papers you sign when you sign the contract.
Related Questions: