Life insurance provides for your family in the event of your death. Your spouse and dependents will receive a payment to cover expenses and help them financially. It is an important long-term decision that can safeguard your family.

Like auto insurance, you can find discounts on life insurance as a military member. Most providers offer a 15 percent discount. Some have family packages so you can insure your spouse and children.

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Life Insurance Discounts for Military Members
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Most insurance providers do not have exclusions for mental health conditions, such as traumatic brain injuries (TBI) and post-traumatic stress disorder (PTSD), common with veterans.

However, the best provider is through the Veterans Benefits Administration (VBA). As active-duty military personnel, you can receive up to $400,000 in life insurance coverage. You can get free life insurance if you are totally disabled due to a military-related injury. 0

Life insurance policies include the following:

  • Servicemembers’ Group Life Insurance (SGLI) – Automatic group term life insurance for service members
  • Veterans Group Life Insurance (VGLI) – Option to convert SGLI to this civilian policy after discharge
  • Family Servicemembers’ Group Life Insurance (FSGLI) – Group term life insurance for the spouse and dependents of service members under SGLI
  • Servicemembers’ Group Life Insurance Traumatic Injury Protection (TSGLI) – Automatic feature of SGLI that provides payments for losses, like amputation, blindness, and paraplegia
  • Service-Disabled Veterans’ Life Insurance (S-DVI) – Life insurance for disabled veterans
  • Veterans’ Mortgage Life Insurance (VMLI) – Insurance that protects those approved for VA Specially Adapted Housing (SAH) grant

Do you want to become a homeowner? The VA can help you with the VA loans with great benefits.

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