Armed Forces Life Insurance Rates
As a young member in the armed forces you may think that the need for life insurance is not necessarily something that you need to make as your top priority. Members of the armed forces are covered for life insurance through Group Life Insurance (SGLI) and that may be enough life insurance for some. As long as you are in the military you are covered for a certain amount of life insurance according to your choosing and they have a great plan. However, the life insurance you can get through the military has a limited face value. Usually it is about $400,000 and would not be enough to help provide for the financial security for the long term needs of a young family. To fully protect your family you should think about taking out a separate term life insurance policy that you purchase on your own. Term life insurance rates are the most affordable and even those in the armed forces can afford them.
There are many life insurance companies that offer reasonable armed forces life insurance rates. These life insurance policies are designed to give the military member an affordable maximum life insurance policy that will meet the unique needs of those in the military. Private armed forces life insurance rates are available for those who are about to be deployed. Most life insurance carriers will expedite the review process for you. Adding sufficient term life insurance coverage will give you the peace of mind that you need while deployed, knowing that your family will be financially taken care of you are killed in action.
Most people do not realize it but it is possible to obtain military term life insurance during war times as well. Normal life insurance policies usually exclude a death as the result of war. However, when you are shopping for armed forces life insurance rates you can check to make sure the policy you are looking at is military term life insurance.
Armed forces life insurance rates can be quoted for coverage including death during combat as well as a policy for severe injuries that result in disability, up to a certain amount of coverage depending on the policy. When you are shopping for armed forces life insurance rates ask about the rates for severe injury benefits too. You will be surprised at how affordable the rates are life insurance. For instance, you can get a $250,000 armed forces life insurance policy that will last until the age of 90 for around $17 a month if you are under the age of 39 and do not use tobacco. Another example is a policy that is up to $600,000 at rates that are just as reasonable. You just have to shop around for a life insurance company that offers term military life insurance. Some policies will have fixed rates. Others will have rates that change over time. The maximum pay out amount may decrease over time with some policies too.
To be eligible for armed forces life insurance rates you should be an active duty military member or a retired member of the military. This kind of life insurance is great for added protection for your dependents, parents or siblings who rely on your income. You should be aware of the fact that not all life insurance companies will give the same rates for someone who is in the military. The policy they offer a military member may not offer the same amount of coverage either so if you are not sure about how much coverage you need you should talk to an insurance agent that you trust or to your commanding officer for guidelines on how much coverage your family needs.