Military Insurance

Military Insurance: A Comprehensive Overview of Life, Health, and Specialty Coverage for Service Members and Veterans

Military insurance programs are tailored to meet the unique needs of active-duty personnel, reservists, National Guard members, veterans, and their families. These programs provide critical financial and healthcare protections that address the risks and lifestyle associated with military service.

Key Military Insurance Programs

Life Insurance

• Servicemembers’ Group Life Insurance (SGLI): Low-cost, automatic term life insurance for active-duty members.
• Veterans’ Group Life Insurance (VGLI): Renewable term life insurance for veterans transitioning to civilian life.
• Family Servicemembers’ Group Life Insurance (FSGLI): Life insurance coverage for spouses and dependent children of service members, with premiums discounted by up to 22% as of 2025.

Health Insurance

• TRICARE: Comprehensive healthcare coverage for active-duty personnel, retirees, and their families, offering various plans including Prime, Select, and For Life.
• TRICARE Reserve Select and Retired Reserve: Health plans for reservists and retired reservists.

Dental Insurance

• TRICARE Dental Program: Coverage for active-duty family members and National Guard/Reserve members.

Unique Features of Military Insurance

• Guaranteed Acceptance: Life insurance programs like SGLI and VGLI do not require medical underwriting for eligible members, ensuring coverage despite health issues.
• Affordable Premiums: Group rates negotiated by the federal government keep premiums low compared to civilian insurance.
• Continuity of Coverage: Programs like VGLI allow seamless transition from military to civilian insurance without coverage gaps.
• Specialized Benefits: Traumatic Injury Protection (TSGLI) and other riders address risks unique to military service.

Tips for Military Insurance Holders

• Enroll promptly in VGLI after separation to avoid health underwriting.
• Regularly update beneficiary information to ensure proper payout.
• Consider supplemental insurance for additional financial protection.
• Coordinate military insurance benefits with civilian insurance and federal programs like Medicare for comprehensive coverage.

Example Scenario

Michael, a Marine Corps veteran, uses TRICARE Select for his healthcare needs and maintains VGLI coverage to protect his family. When he retires, he coordinates his military insurance with Medicare to optimize benefits and minimize out-of-pocket costs.

Read more:

Veterans’ Group Life Insurance – Veterans’ Group Life Insurance

Servicemembers’ Group Life Insurance – Servicemembers’ Group Life Insurance

TRICARE Program – TRICARE Program