Who Needs Life  Insurance?

 Members of the armed services may consider their life insurance needs throughout their  military career. The need for life insurance will vary depending upon your age  and responsibilities. It is a very important part of financial planning. There are several  reasons to purchase life insurance. You may need to replace income that would be lost with the  death of a wage earner. You may want to make sure your dependents do not incur  significant debt if you die. Life insurance may allow them to keep assets  versus selling them to pay outstanding bills or taxes. However, it is important  to remember that most military servicemembers already receive the $400,000 of  life insurance coverage automatically, unless specific requests to opt out have  been submitted.
If you are a servicemember that has opted out of the SGLI plan or are  looking for additional life insurance above the $400,000 amount, you should  consider the following factors:

  • Medical expenses previous to death, burial costs and estate taxes in excess of amounts that would be covered by the military;
  • Support while surviving family members try to secure employment; and
  • Continued monthly bills and expenses, day-care costs, college tuition and retirement of surviving family members.
  • Whether a policy contains exclusions for death while performing military duties.


MilitaryConnection.com, a portal of all things military, has become the “go to” site for resources, news  and information that is of importance to the military audience. We have thousands of pages and hundreds of  databases to keep you current on the information you need to have. With something for everyone, we take  pride in providing all of our resources free to users. Additionally, we feature all types of life insurance articles like this one to keep you informed. We will post your press releases, special events, newsletters,  professional conferences and seminars, reunions, job fairs, and videos to help organizations get out the  word. One of the areas of our focus is connecting candidates from the military community with outstanding  government and civilian employers. We are well aware that candidates from the military community across  the board have a work ethic second to none. They make highly valued employees. MilitaryConnection.com has  a multitude of employment resources including a Directory of over 30,000 employers, Job Tips, Columns,  Virtual Job Fair and our new and improved Job Board, featuring our Virtual Marketplace where you can post  free ads for items you want to buy, sell or rent , and much more. We understand the importance of  education. Please check out our new Scholarship Directory featuring thousands of scholarships. When the  next tour is back home, it’s on MilitaryConnection.com.