When you exit the army what happens to your life insurance if you were paying extra money towards a higher payout?

Gone. You'll need to look into private term life insurance.

SGLI is only in existence while on Active Duty. It's term insurance, and like all term insurance, it has no cash value.

DO NOT go for VGLI unless you are so severely disabled that you cannot qualify for commercial insurance. VGLI is way too expensive if you are healthy...

If you are speaking about SGLI, the same thing when exit a plane...its gone and you are hoping your chute opens.