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SGLI coverage ends 120 days after you leave the military. Upon separation or retirement, VGLI becomes an option, particularly for those who may not be eligible for commercial life insurance. Because no medical exam is required, premiums for VGLI may be higher for healthy individuals.
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I would recommend applying for term life insurance first. If you qualify and can move forward, do so! It is so much cheaper over any other insurance option.
If you have a major medical condition, say PTSD, you will have a struggle with most insurance companies and types. In that case VGLI will likely be your best bet. Do not assume. Try getting that term life!
The VGLI cost over the years is insane! Every 5 years it increases. With a term, you can get one set price for 10, 20 or even 30 years.
If you have a major medical condition, say PTSD, you will have a struggle with most insurance companies and types. In that case VGLI will likely be your best bet. Do not assume. Try getting that term life!
The VGLI cost over the years is insane! Every 5 years it increases. With a term, you can get one set price for 10, 20 or even 30 years.
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Sgt James S.
AB Edward Mondini - "VGLI is five-year, automatically renewable term coverage This coverage cannot be assigned and does not provide cash or loan value." -- from the FAQ page
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LTC (Join to see)
AB Edward Mondini - no, it's not whole life. it's just expensive as hell. If you have the $400K SGLI now you're paying $25/month. That same $400K coverage if you retire at 60 will cost you $432/month and it goes up every 5 years iirc. lot's of other insurance companies out there where you can get the same coverage for much less.
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SSgt Andrew Urban
Term life was hard to get for me. I actually had the PTSD diagnosis and I kept getting denied for it. It wasnt until I had a my re-eval where I had a great doc help change the diagnosis title to one that included all of the symptons for PTSD but was not called PTSD. It actually kept my rating the same and was just the work around needed.
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