The SGLI program, run by the Veterans Administration, is designed to provide low cost term life insurance for all members of the military.
According the VA website, service members should review their beneficiary information regularly.
I am not going to die.” Most members of the military are young and healthy and have a lower mortality rate than civilian counterparts, according to the National Institutes of Health website.
However, according to the same website war-related injuries accounted for less than 50 percent of all deaths.
The service member may not care, but something to consider is what is left behind like a mortgage or other debt.In an article from moneycrashers.com, Jason Steenwyk points out that by designating a next of kin as a beneficiary also allows your assets to bypass probate.He says this is also why beneficiaries should be identified by name in order to keep benefits from being devoured by lawyers’ fees and creditors.See the info in the links and help your Soldiers understand the importance. One of the most important Forms a Soldier needs to complete, is also the most neglected.Please take time to view and share this Military One Source announcement at one of the following links.
Ensuring your benefits are kept in the family is a quick and simple process.