-
SGLI: Active-duty service members and certain reserves are automatically enrolled in Servicemembers' Group Life Insurance (SGLI) at low-cost group rates. Coverage ends shortly after leaving service (typically 120 days, with an option for extension in some cases).
-
VGLI: A continuation of SGLI for veterans, but at increasing premium rates as you age. It is available without medical underwriting if converted within 240 days of leaving service.
-
Private Life Insurance: Individually purchased coverage from an insurance company. Policies can be term or whole life, with varying costs and underwriting requirements based on age, health, and policy type.
-
-
SGLI: Extremely low-cost, flat-rate group coverage while on active duty. The maximum coverage ($500,000) costs $31 per month.
-
VGLI: Premiums increase every five years as you age, making it expensive for older veterans. No medical exam is required if enrolled early.
-
Private Insurance: Prices vary based on age, health, term length, and coverage amount. Healthy individuals may find private term life insurance cheaper than VGLI in the long run.
-
-
SGLI: No medical exam required—automatic enrollment for eligible service members.
-
VGLI: No medical underwriting if enrolled within 240 days of leaving service. After that period, a medical exam may be required.
-
Private Insurance: Usually requires a health screening for the best rates, but some companies offer no-exam policies (at higher costs).
-
-
VGLI: Good for veterans with pre-existing conditions who may not qualify for private insurance. However, premiums rise with age.
-
Private Life Insurance: Often the best option for long-term affordability, especially for younger, healthier individuals. Fixed-term policies (e.g., 20- or 30-year term) lock in rates.
-
SGLI: Ends when you leave service unless converted to VGLI or private insurance.
-
-
Yes, you can layer VGLI with private life insurance or other policies.
-
Many veterans use VGLI as a backup while securing a cheaper private policy.
-
Some also convert SGLI into private policies with participating insurers.
-
BC Brokerage supports our veterans!
BC Brokerage helps veterans transition from military to civilian life by securing affordable private life insurance. Many leave service relying on costly VGLI, unaware of better options. BC Brokerage educates and guides them to tailored policies that save money while protecting their families. With expert advice and veteran-focused solutions, they ensure a smooth, confident transition.
