Embark on a journey of knowledge! Take the quiz and earn valuable credits.
Challenge yourself and boost your learning! Start the quiz now to earn credits.
Unlock your potential! Begin the quiz, answer questions, and accumulate credits along the way.
Embark on a journey of knowledge! Take the quiz and earn valuable credits.
Challenge yourself and boost your learning! Start the quiz now to earn credits.
Unlock your potential! Begin the quiz, answer questions, and accumulate credits along the way.
+10 pts
What is Servicemen's Group Life Insurance mean?
Servicemembers' Group Life Insurance (SGLI) is a life insurance program available to all active duty and reserve members of the uniformed services of the United States. Supervised by the United States Department of Veterans Affairs, the program is administered by the Prudential Insurance Company of America.
It is available to active-duty members of the Army, Navy, Marine Corps, Air Force, Coast Guard, National Oceanic and Atmospheric Administration Commissioned Corps, and the United States Public Health Service Commissioned Corps. Ready reservists, cadets, and midshipmen at the four service academies (but not the Merchant Marine Academy), and members of the Reserve Officer Training Corps are also all eligible.
Insurance is available in increments of $50,000, up to a maximum of $400,000. As of July 1, 2014, SGLI premiums are $0.07 per month per $1,000 of insurance, regardless of the member's age. An additional $1 per month is charged for traumatic injury protection (TSGLI). Accordingly, a $400,000 policy costs $29 per month. Notably, the SGLI does not have a war clause exclusion which otherwise precludes benefits if death results from combat.
Veterans' Group Life Insurance (VGLI) is a similar product available to veterans. SGLI policyholders may convert their policy to VGLI upon discharge unless an exception for total disability applies. Premiums for VGLI are higher and are based on the age of the insured.
referencePosted on 26 Sep 2024, this text provides information on Miscellaneous in Governmental related to Governmental. Please note that while accuracy is prioritized, the data presented might not be entirely correct or up-to-date. This information is offered for general knowledge and informational purposes only, and should not be considered as a substitute for professional advice.
Turn Your Knowledge into Earnings.
Ever curious about what that abbreviation stands for? fullforms has got them all listed out for you to explore. Simply,Choose a subject/topic and get started on a self-paced learning journey in a world of fullforms.
OPEN APP
Click "Allow Notifications" in Your Browser to Access Quiz and Earn Rewards! 🚀
Write Your Comments or Explanations to Help Others