Is VGLI helpful? Or is it SGLI?

Submitted by Anonymous (not verified) on Mon, 12/14/2009 - 07:17

Is VGLI really a good option for the service members?

How does it vary from SGLI?

Posted: 14 Dec 2009 12:58 Post Subject:

SGLI is for active service members and dirt cheap, while VGLI is for retired service members and gets incredibly expensive as you get older.

Posted: 14 Dec 2009 02:16 Post Subject: sgli

Yep...I pay $27.00 per month for a $400,000 Life Insurance policy (SGLI). Also...I'm a 'active' Reservist. I don't know what you would pay on VGLI.

Posted: 14 Dec 2009 10:02 Post Subject:

SGLI is the life insurance protection available to members of the US armed forces while on active duty. Upon separation from active duty, SGLI continues for up to 120 days. $400,000 is the maximum benefit for death plus there is now a benefit for disabling "catastrophic" injuries -- the kind of stuff that seriously wounds (removes arms, legs, feet, hands, chunks of skull and brains, and severs the spinal cord of) our soldiers and marines without killing them.

During that time period, SGLI may be converted without proof of insurability to VGLI. VGLI is term life product with 5-year age bands: 20-24, 25-29, 30-34, 35-39, etc. As you move into the next age band, your premium is fixed for the next five years. As dgoldenz says above, it will eventually become very expensive to continue -- but only on the basis of age, not health status.

Other forms of life insurance often represent a better dollar value over the long term, but VGLI, for those in the active reserves, automatically converts back to SGLI if recalled to active duty. A private policy might have an exclusion for death while serving in the military or in times of war or as the result of an act of war, which would not be a good thing for someone recalled to active duty.

Posted: 15 Dec 2009 12:05 Post Subject: life insurance

I was told I can continue to pay for the Life Insurance when i get out of the Military. I know I would be paying MORE than I do now. Also, according to my Military contract, after I DO get out of the Military, I have a '2 year window' that I can possible get called back to duty.

Posted: 15 Dec 2009 06:02 Post Subject:

If an SGLI insured service member gets released from active duty for over 31 days, he should be eligible for VGLI on a full time basis.

Posted: 15 Dec 2009 01:00 Post Subject: insurance

That would be great!! My 'enlistment' is up in 2011. By THIS time, I would have 15 years in the Military. Why quit now and waste all of this time..ya know? I'm gonna try to go to 'Retiremement'. On a VGLI, do you know what monthly payments would be, MAX? Just a 'ball park' fugure?

Posted: 15 Dec 2009 02:18 Post Subject:

Here's a link to the VGLI premiums for all ages and amounts: http://www.insurance.va.gov/sgliSite/forms/VGLIRates(07-08).pdf

Here's a link to the VA page about it: http://www.insurance.va.gov/sgliSite/vgli/VGLI%20rates.htm

As you can see, the rates for ages 50 and up get pretty ridiculous. If you are healthy, you would be able to find much less expensive coverage on your own in the individual market. I'm sure you don't want to be paying $20k per year when you hit 70 years old.....or even $5k per year when you hit 60.

Posted: 15 Dec 2009 09:29 Post Subject: insurance

I'm sure you don't want to be paying $20k per year when you hit 70 years old.....or even $5k per year when you hit 60.

No.........I don't think I do want to pay THAT much. It's sad....that people that have served our country have to pay THAT much AFTER they are discharged from the Military. They are STILL Vets...no matter how long they have been out.

Posted: 15 Dec 2009 11:28 Post Subject:

The first link should have an 8 and closed parenthesis in there instead of a smiley face. Aside from that, it gets expensive to pay out claims of $400k if you're charging dirt cheap premiums. Money has to come from somewhere....it's no different than all group insurance, which usually has premiums that skyrocket as you get older.

Posted: 15 Dec 2009 11:51 Post Subject: insurance

Well......thanks for the advice. Of course, I can have SGLI as long as I remain in the Military. Thanks for everyone's comments...they were very helpful.

Posted: 16 Dec 2009 05:41 Post Subject:

Members who're serving the IRR or the ING are eligible. Also, members who're associated with the Public health service are eligible for VGLI.

Posted: 17 Dec 2009 06:36 Post Subject:

Those members who have part-time SGLI and has become disabled or got injured while on duty could be entitled for full-time VGLI. I think the IRC (Inactive Reserve Corps) members are also eligible for such coverage.

Posted: 19 Dec 2009 05:27 Post Subject:

You must remember to apply in time. You have to apply within 1 year and 120 days from the date of leaving your service. In general OSGLI will send you an application within 45-60 days of your leaving the service.

Posted: 19 Dec 2009 10:37 Post Subject: Life Insurance

I'll tell ya, it's a good feeling that my son will be (financially) cared for, properly (right now, anyway)...the SGLI 'covers' me, while I continue to serve in the Military. GOD FORBID anything happens to me anytime soon!!

Posted: 19 Dec 2009 03:00 Post Subject:

Does your friend still get the money or did you make the change so that it will go to your son?

Posted: 20 Dec 2009 08:49 Post Subject:

Does your friend still get the money or did you make the change so that it will go to your son?

let me tell everyone ( especially the person, who posted the ABOVE post). I was checking my Yahoo mail account ( I can FINALLY get into it now) and I had an e-mail......asking me to "verify my SGLI Insurance information. Click the link"..kind of thing. NO ONE, within the Military or any Gov office, would ask me ANYTHING, pertaining to my SGLI, on my 'personal' email. THEN.....I see the above post!? I don't think it's a coincidence. OBVIOUSLY...there are people, on this Forum who don't have enough guts to use their REAL ID..they have to use different ones everytime they post something new. This needs to stop...and NOW. To answer you're question, FAJDE (or whoever the hell you are!!) you don't need to know where my SGLI money is going!! Hopefully..YOU ARE not the one who sent me the email on my Yahoo account. If you are, GOD HELP YOU!!

Posted: 20 Dec 2009 11:50 Post Subject:

I have never contacted anyone on this board personally. As I've already told you, I am the same "InsuranceExpert" who used to give you a hard time about your beneficiary designations. I don't need to know if you don't want to say. I was simply curious if you ever proactively made the change after finding out that you were incorrect.

Anything that you get on your Yahoo account is strictly coincidental. However, I must add that the "GOD HELP YOU" threat isn't appreciated.

Posted: 21 Dec 2009 12:49 Post Subject: insurance

As I said, not enough guts to use your 'REAL' ID. I sent my Yahoo e-mail to 'Spam'. I also asked them to reaveal where that e-mail came from, if they can find out. It's pretty bad when so-called 'Insurance Experts' want to use emails to get information. I guess I need to be MORE cautious on who I choose to communicate with, on this Forum. As I said, you better hope 'Yahoo' doesn't trace that e-mail back to YOU. I don't like being preyed on.

Posted: 21 Dec 2009 07:28 Post Subject:

You have to apply within 1 year and 120 days from the date of leaving your service.



Once you leave the service and apply for VGLI within 120 days, then you don't need show proof of your good health if you'd pay the premium (for the first month) along with it. On the other hand, if you'd apply for it between those 120 days - 1 year and 120 days (since you've been released from the service), you'd certainly need to show the proof of health along with the premium for the first month.

Posted: 21 Dec 2009 11:30 Post Subject: insurance

Thanks, STEVEN. I appriciate that information. hey..'we' (the company) were hearing that the SGLI vlaue might go up alittle. Gosh..now it's $400,000!!

Posted: 22 Dec 2009 12:00 Post Subject:

SDcharger, low intelligence but paranoia is not a good combination.

Posted: 22 Dec 2009 09:06 Post Subject: insurance

You need to leave me alone and stop answering my posts. I've let Admin know about your horrible ways.

Posted: 24 Dec 2009 07:13 Post Subject:

It's true that the applications won't be acceptable after this period of one year and 120 days. After a VGLI application gets approved, a coverage certificate would be issued by OSGLI. Once this happens, you'd start receiving your monthly. Retirees may choose to get their premium payments deducted from their retirement payouts. Roddick

Posted: 24 Dec 2009 11:00 Post Subject: SGLI

Well, RODDICK. I have almost 15 years in the Military. And, I DO plan to re-enlist. My thinking is, if I don't re-enlist, that would just be a waste of my Military time..ya know. It's convient when payments are taken out of my Military pay (SGLI, Dental, etc). I don't even see the payment taken.

Posted: 01 May 2012 12:21 Post Subject: SGLI

I am in the Reserve Retied group and have SGLI showing up on Mil Connect, plus I'm paying for VGLI. What I don't get is why they show me have SGLI and showing that I'm also in the Air Force Reserve with out a unit showing up. This is weird to me, should I go and talk to DEERS about it?

Posted: 01 May 2012 05:24 Post Subject:

You can call the SGLI help desk or VGLI help desk for proper answers.

Office of Servicemembers' Group Life Insurance (OSGLI) at (800) 419-1473

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