I want to apologize Do not know what to think

by sdchargersfan » Sat Jun 06, 2009 01:38 am

I know a few of the Experts, on this Forum ,were trying to help me 'deal' with my Military Life Insurance policy. I was getting ALOT of 'conflicting' advice....from the Experts and from my Battalion ( Jag office). The last few days, I've REALLY thought about what advice was given to me, by people on this Forum...as I thought about it, I thought ' this many Insurance Experts can't be wrong." Well..... I don't remember which one of you gave me the number, to the VA in Washington DC, for SGLI. But, I DID call it. I spoke to a woman, who was very nice and extrememly willing to answer my questions. To make a VERY long story short, the advice that SHE gave me was TOTALLY opposite from what 'our' Jag office is telling us. I called to Jag office, MYSELF. The answers I received from them, I just din't feel 'comfortable' with. When I told them, "this is what you guys are TELLING us ( Soldiers) to do...to fill out the SGLI THIS way, " etc. I was just getting alot of 'general' answers instead of specific ones. NOW............................i want to say I REALLY feel, now, that I'm not doing my son ANY justice ( as the Jag office was saying I was). My son is my life!!!!!!!!!!!!! How can I be so mistaken on THIS issue?! ( Thinking outloud here..). I never said the Military was perfect, however.......I would think they would, AT LEAST 'steer' Soldiers in the 'right direction'...ya know? Saying all of that,..........i want to apologize for my stubborness. I've been in the Military a long time. 'You' would think if the Military is giving out incorrect information, they would correct themselves. Please tell me,...........what should I do?! How should I change my Life Insurance policy so my son is PROPERLY cared for????????!!!!!!!!!!!

Total Comments: 11

Posted: Sat Jun 06, 2009 01:53 am Post Subject: insurance

...........Don't get me wrong, I'm proud to serve in the Military. After so long ( been in 13 years) you tend to 'defend' them. However.......I DO have to say it's a bit difficult to to that, at this time. I'm sure the Forum understands.

Posted: Sat Jun 06, 2009 06:12 am Post Subject:

I am happy that we could finally make you check with the information and correct yourself.

We all may get wrong information since we pay more trust on people we know and believe that they would give us the right info.

Here is the information directly from the SGLI site about beneficiary change.

insurance.va.gov/sgliSite/SGLI/sgli%20faq.htm

Posted: Sat Jun 06, 2009 01:02 pm Post Subject: insurance

...it REALLY upsets me that I was told that the way I DID have it was 'set in stone'. I was telling lot of people.."this is the way it is.." when THAT particular way was wrong.

We all may have wrong information since we pay more trust on people we know and believe that they would give us the right info.

That's about what it boils down to..yes.

Posted: Mon Jun 08, 2009 01:32 am Post Subject:

SD' I'm glad to see you did some of your own independent research.

Just because someone is an attorney (JAG) doesn't make them competent.

The USA government is loaded with attorneys who never worked one day in the private sector and never ever ran a business. Not even a lemonade stand.

Regarding your son, If you want to be absolutely sure he gets your life insurance death benefits then name him as the Primary Beneficiary.

OR since benefits can't be paid to a minor, set up a revocable trust, name your best friend as trustee since she's your "Attorney-in-Fact" on your Power of Attorney and name your son the beneficiary on the trust.

OR visit me in Florida and I'll send you to one of our attorneys.

After ALL our thread wars back and forth will really should meet and have a drink and a good laugh!

Posted: Mon Jun 08, 2009 01:38 am Post Subject: insurance

All I can say is........BOY was I fooled!! Well.GARY.sorry, but I think the Florida trip is alittle impossible right now!!LOL Thanks for you advise.

Posted: Mon Jun 08, 2009 11:05 am Post Subject:

I'm sure there will be other agents pop in and help guide you as well...I have to say SD that I too am glad that you decided to double check all the double talk you've been getting...and glad too that it dawned on you that this many people actually in the insurance industry saying the exact same thing just can't be all wrong.. :wink:

I'm proud of you for apologizing for your stuborness, and requesting help in protecting your boy. I don't think anyone has ever thought he is not your number one priority...you were simply given bad advise, and if nothing else the military teaches you that you do NOT question a superior officer...(I'm assuming the JAG atty outranks you :wink: )....get ready sweetie, I'm sure additonal advise will roll in....(good job---really)

Posted: Mon Jun 08, 2009 04:38 pm Post Subject:

If you look at the other thread, I posted the manual and the handbook...as well as the contact information for SGLI. The insurance company that it goes through is Prudential, and they also have some information on the SGLI website.

It's not hard to set up a trust and you can even download forms off the internet. Good Luck...and Great Decision!

Posted: Tue Jun 09, 2009 02:07 am Post Subject: insurance

Well...............I DO have to say it wasn't easy to apologize ( not that I din't want to),...but, yes.....you just 'don't question the Military' type of thing.

Posted: Sun Jul 12, 2009 06:37 pm Post Subject:

Hurray for you, SDChargers! I never noticed this thread until Lori pointed this out to me today.

I sincerely hope that you understand that none of the abuse that I threw on you was because I'm a jerk. It was the only way that I knew of in this format to get you to take a second look at things.

I apologize for being such a jerk, but please understand that there was a reason behind it.

Do you have a trust set up in your will for the benefit of your son? Is your friend the trustee of this trust?

I'm guessing that the answer is "yes" simply because you have mentioned that she is your POA under your will, but a POA dies with you, so that doesn't make sense. Therefore, I'm guessing that you are confused on terminology.

If their is a trust for your son with your friend as the trustee, the beneficiary designation should read something similar to, "Trustee under the will of the insured". The trust will dicated the terms of when your son can get the money.

When your son has the maturity to handle the money, you can change the beneficiary to him. Best of luck to you!

Posted: Tue Jul 14, 2009 10:30 am Post Subject: insurance

I understand, INSURANCE EXPERT!! I understand that ALL of you were trying to help. Sometimes, when you hear something, from someone, for so long, you tend to believe it..ya know? Can I actually 'designate' a certain age that I want the money to go to my son? I don't think 18 is a 'responsible' age. Even though a Military Life Insurance policy is very 'general', how can I 'tact' this information on? Hope my question is clear.

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