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Coast Guard Life Insurance

As a member of the United States Coast Guard, you are eligible for several military benefits, including Servicemembers' Group Life Insurance (SGLI). Additionally, optional coverage for family members — your spouse and dependents — can be obtained under Family Servicemembers’ Group Life Insurance (FSGLI) policies.

SGLI has guaranteed acceptance (which means you can’t be turned down) and provides a straightforward policy so that servicemembers and their families will have protection should something happen to them. While these basic term life policies are a good starting point, SGLI offers a cookie-cutter plan with limited coverage that may not meet your family’s unique needs. While SGLI’s $400,000 limit may initially sound like a lot, the reality is that it rarely provides enough coverage for a Coast Guard family. For example, if you make $50,000 per year, that is only enough money to cover eight years of your lost income — that’s without factoring in your final expenses and other liabilities you may leave your family.

When it comes to Coast Guard life insurance, multiple factors come into play when determining which policy and coverage amount is best for your family’s needs. Age, income, health history, family composition, and future goals are all factors that you should consider when buying life insurance. Read on to learn more about the life insurance options available to members of the Coast Guard and how AAFMAA can help.

AAFMAA Coast Guard Life Insurance Policies

AAFMAA Level Term I, Level Term II, Value-Added Whole Life, and Veteran Survivor plan are all good options for Coast Guard life insurance policies. Each policy is broken down below.

Level Term I

  • Designed for servicemembers, military spouses, and adult children of AAFMAA Members,  ages 18-49
  • Provides low-cost coverage with premiums that beat SGLI  and never increase
  • $50,000 to $800,000 available in $5,000 increments — which is double the amount of SGLI
  • No limitations based on rank and/or deployment
  • Includes $10,000 of coverage per dependent child for no additional premium*

Level Term II

  • Designed for servicemembers, Veterans, military spouses, and adult children of AAFMAA Members,  ages 18-75
  • Coverage from $50,000 to $800,000 in $5,000 increments
  • Flexible term coverage (minimum 5 years: maximum 30)
  • Premiums remain the same throughout the term of the policy, with an annual renewal option at the end of the policy’s term**
  • The death benefit will never decrease throughout the term of the policy

Value-Added Whole Life

  • Designed for servicemembers, Veterans, military spouses, and adult children of AAFMAA Members, up to age 80 and the grandchildren of AAFMAA Members under the age of 26
  • Builds cash value that can be accessed penalty-free from AAFMAA
  • Every premium payment builds your cash value
  • No additional premium for Long-Term Care Settlement Option

Veteran Survivor Plan

  • Designed for Veterans, military spouses, and adult children of AAFMAA Members, ages 45-84
  • Coverage of $10,000 - $25,000***
  • Final expenses coverage to protect your survivors
  • Premiums never increase for life
  • No medical exam is required — acceptance is quick and guaranteed
  • Apply today, get covered today


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Common Questions

While members of the Coast Guard automatically qualify for life insurance, Coast Guard Veterans and military retirees do not automatically receive life insurance benefits. However, as a Coast Guard Veteran, you may be eligible to purchase Veterans’ Group Life Insurance (VGLI) as long as you meet at least one of the following criteria:

  • Had SGLI while in the Coast Guard and you are within 1 year and 120 days of being released from an active-duty period of 31 or more days.
  • Are within 1 year and 120 days of assignment to the U.S. Reserves or National Guard.
  • Are within 1 year and 120 days of retiring or being released from the U.S. Reserves or National Guard.
  • Had part-time SGLI as a member of the National Guard or Reserves, and you suffered an injury or disability while on duty that disqualifies you for standard premium insurance rates.
  • Are within 1 year and 120 days of being put on the Temporary Disability Retirement List (TDRL).

Like with SGLI, VGLI is guaranteed acceptance group life insurance, meaning you can’t be turned down due to health. However, your rates will vary based on your age and the amount of coverage you carry. VGLI premiums increase every five years, which quickly makes them much more expensive than many policies, including term life from AAFMAA.

AAFMAA offers a variety of Coast Guard Life life insurance policies suited to meet the needs of Veterans and their families. Plus, AAFMAA life insurance policies exclusively offer Survivor Assistance Services to guide your family through their loss.  Our team is dedicated to providing servicemembers the educational resources they need to find the right plan for their families To learn more or to apply now, contact the Life Insurance team at 877-398-2263 today.

*Children under age 21 included at no additional cost with Member's policy. Limited to one per servicemember or family; not available for spouse or dependent policies.

**New rates will apply at renewal.

***Exclusions and Limitations: Important: If you die for any reason in the first two years of the policy, your beneficiaries will receive a reduced death benefit equal to 110% of premiums paid.