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group medical insurance

Servicemembers' Group Life Insurance

Servicemembers' Group Life Insurance (SGLI) is a life insurance available to all active duty members of the uniformed services of the United States. Managed by the United States Department of Veterans Affairs, it is heavily subsidized by the federal government.

It is available to active duty members of the Army, Navy, Marine Corps, Air Force, Coast Guard, National Oceanic and Atmospheric Administration Commissioned Corps, and United States Public Health Service Commissioned Corps. Ready reservists, cadets and midshipmen at the four service academies (but not the Merchant Marine Academy), and members of the Reserve Officer Training Corps are also all eligible.

Insurance is available in increments of $50,000, up to a maximum of $400,000. As of July 1, 2008, SGLI premiums are $0.065 per $1,000 of insurance, regardless of the member's age. An additional $1 per month is charged for traumatic injury protection. A $400,000 policy costs $27 per month.

Veterans' Group Life Insurance (VGLI) is a similar product available to veterans. SGLI policyholders may convert their policy to VGLI upon discharge unless an exception for total disability applies. Premiums for VGLI are higher and are based on the age of the insured.

Alternatives

Coverage provided through SGLI is replicated by very few private organizations, some of which include the Military Benefit Association (MBA), USAA, the Army and Air Force Mutual Aid Association (AAFMAA), the Uniformed Services Benefit Association (USBA), and the Armed Services Mutual Benefit Association (ASMBA). These are all popular insurance providers for members of the armed forces, providing similar or higher coverage levels at rates that are similar to or lower than SGLI. Like SGLI, the coverage provided by these companies is unique in that it is tailored to the needs of military members, and has no war-clause.

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