Whether you’re active duty or a member of the United States Army Reserve or National Guard, all military servicemembers are eligible for Servicemembers' Group Life Insurance (SGLI). You also have the option to cover your spouse and dependents with Family Servicemembers’ Group Life Insurance (FSGLI) policies.
These group term policies are guaranteed acceptance and serve as a basic starting point for soldiers and their families. However, these one-size-fits-all plans are rarely enough to cover all the needs of an Army family since they do not take into account you and your family members’ unique circumstances.
Age, income and health history—for example—all play a role in determining which type of life insurance policy is right for you and how much coverage you really need. Depending on your specific situation, government-sponsored life insurance products are likely not enough to suit the needs of your family.
Army Life Insurance Policies
AAFMAA offers a variety of term and whole life insurance policies tailored to meet the needs of all soldiers and their families, including:
- Members and military spouses ages 18-49
- Individual low-cost coverage, with premiums that never increase
- Select in $5,000 increments from $50,000 to $800,000
- Term Life Insurance $10,000 per dependent child under age 21; no additional cost with Member's policy. Limited to one per Member/family; not eligible for spouse or dependent policies
- Members ages 18-75
- Premium never increases
- $50,000 - $800,000 coverage
- Flexible term (minimum 5 years; maximum 30)
- Cheaper than the military's VGLI plan and many other civilian coverage options
- Members up to age 80; children/grandchildren under age 26 yrs
- Builds cash value that you can access with no penalties if you ever need to
- Every premium payment you make is saved to your cash value and always belongs to you
- Long-Term Care Settlement Option included at no additional premium
- Members ages 45 - 84
- $10,000 - $25,000 coverage
- Final expenses coverage to protect your survivors
- Guaranteed acceptance with no medical exam – you can’t be turned down
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