Whether you’re active duty or a member of the United States Navy Reserve, 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 guaranteed acceptance group term policies offer a basic starting place for many sailors, but they are rarely enough to truly cover the needs of a Navy family because they are one-size-fits-all policies. They do not take into account you and your family members as individuals and your individual situation.
Factors such as your age, income, health history, and other personal circumstances all play a role in determining what kind of life insurance policy is right for you and how much coverage you really need. Depending on your unique situation, the government’s life insurance offerings are likely not enough for you and your family.
Navy Life Insurance Policies
AAFMAA offers a variety of term and whole life insurance policies tailored to meet the needs of all sailors 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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Start a Plan for the Future with AAFMAA’s Navy Life Insurance
Don’t wait to take care of your loved ones. AAFMAA offers the coverage you need at the price you want through every stage of military life — training, deployment, PCS, transition, second career and retirement. Protect your family confidently with up to $1 million of coverage. Call 888-862-5932 for more information or to get a quote today.
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AAFMAA also offers a free introductory membership to qualifying U.S. Naval Academy Midshipmen that includes a $5,000 Term Life Insurance policy at no cost.
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