Military retirement pay is an important part of a retired military family’s financial plan, but military retirement pay ends with the death of the military retiree. Retirees and their spouses have the option to purchase income replacement coverage through the Survivor Benefit Plan (SBP.) SBP provides a portion of retirement pay for life, with adjustments for inflation just like military retirement pay.
CPT Andy Swanston is absolutely right. Cheap insurance to help the family along, should something happens. I paid for it, until it was paid up. The inflation thing is new to me. In addition, I went with a 20 pay life insurance and cashed out when my future was secure financially.