SGLI premiums to be reduced

SGLI premiums to be reduced

Secretary of Veterans Affairs Eric K. Shinseki announced April 29 that military personnel insuring their families under the Servicemembers' Group Life Insurance (SGLI) program, which is administered by the Department of Veterans Affairs, will have reduced out-of-pocket expenses beginning July 1.

Family SGLI (FSGLI) monthly premium rates will be reduced for all age groups by an average of 8 percent. The new rates are based on revised estimates for the cost of the program. This is the third time that premiums have been reduced since the FSGLI program began in November 2001. Spousal premiums were previously reduced for all age groups in 2003 and 2006.

FSGLI coverage provides life insurance protection to military personnel for their spouses and children. Children are automatically insured for $10,000, with no premiums charged.

Based on the coverage of service members, spouses may be insured for up to $100,000. Military personnel pay age-based premiums for spousal coverage -- the older the spouse, the higher the premium rate.

FSGLI coverage is available in increments of $10,000. The current and revised monthly premium rates per $10,000 of insurance, along with other information, are available here.

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logic101

April 30, 2010 - 8:38am

How about the Legion getting on the bandwagon to lower the cost of VGLI?

kheck53

April 30, 2010 - 1:33am

My SGLI for $400,000 was just $29.00 a month Now after being discharge I was force to go to VGLI because of service connected disability. To get the same coverage I would now have to pay $268.00 per month . Now you tell me who should be getting a decrease in rates. You are greatly overcharge when you leave active service and become a veteran Commander Hill lets try working on this as a priority!

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