Should SGLI offer new term/whole life options, such as cash value, loans, hostage ransom, etc?

SGM Private RallyPoint Member — Wed, 29 Apr 2015 09:19:15 -0400

Response by CPT Private RallyPoint Member made Apr 29 at 2015 9:20 AM

CPT Private RallyPoint Member — Wed, 29 Apr 2015 09:20:55 -0400

Although I like the idea, there is the issue of longevity and and discharges. I see ADSOs, and complications...abuse

Response by COL Vincent Stoneking made Apr 29 at 2015 9:54 AM

COL Vincent Stoneking — Wed, 29 Apr 2015 09:54:25 -0400

As a former insurance guy, I find a lot of value in whole life (and universal life, for that matter) in the right circumstances. HOWEVER, it is a LOT more expensive and the DoD would be one of very few employers who offered anything other than term. I think it would be a bad move. I would cost the service member a lot more out of pocket - many would opt for lower coverage amounts, rather than the max that I think most people default to. Most service members would not keep the policy in force once they left the service, thus eliminating the longer-term (no pun intended) benefits of a whole life policy. All around, a bad idea, IMO.

Response by CPT Private RallyPoint Member made Mar 4 at 2018 2:47 PM

CPT Private RallyPoint Member — Sun, 04 Mar 2018 14:47:58 -0500

I think SGLI should be offered through other providers. Prudential isn't the cheapest or broadest benefit provider out there. Many soldiers could get much cheaper insurance elsewhere through other providers.