Veterans Group Life Insurance

USBA Names New Executive VP/COO

Markovich has been with the association for 29 years, starting as a Customer Service Representative in 1982, and advancing through the years into senior-level management. Prior to her promotion to EVP/COO, she served as Senior Vice President, Administration and Membership Services.

“Throughout her career at USBA, Connie has demonstrated exceptional operational leadership,” says President and Chief Executive Officer, Colonel Robin A.

Overview of Military Divorce: Life Insurance for Service Members ...

Recently, we posted an article about the high rate of divorce among military women -- service women being three times more likely to divorce than their male military counterparts. Certainly, the stresses and uncertainties of military life can be very difficult for families. In this week's series, we'll discuss some important family law issues that our service men and women contend with, starting with life insurance coverage for parents and their children.

Life Insurance for Service Members The Servicemembers' Group Life Insurance (SGLI) and the Veterans' Group Life Insurance (VGLI) are government life insurance programs offered by the military. The administrator of these programs is the Office of Servicemembers' Group Life Insurance (OSGLI) in Roseland, New Jersey (toll free 800-419-1473). The maximum coverage that may be purchased through the SGLI and VGLI programs (or combination thereof) is $400,000. Any service member who is active duty, is Ready Reserves, or is National Guard is eligible for SGLI coverage. A service member may opt out of military-offered life insurance coverage. Although a service member is free to acquire coverage through a non-military private insurer, the coverage is likely to include a war exclusions provision and non-commercial flight exclusion, which means the insurer will not pay on a claim involving a death resulting from war, military force, or military aircraft crash. These exclusions are not found in the SGLI and VGLI military policies. This is life insurance only, so there is no disability coverage. The service member, exclusively, has an Accelerated Benefits Option of up to 50% of the policy amount. This is only available when the spouse or dependent child has a life expectancy of nine months or less. Automatic termination of FSGLI coverage occurs 120 days after the member separates from military service. The service member may reduce or cancel the FSGLI spousal coverage at any time. However, the dependent child coverage may not be reduced for any reason so long as the service member is SGLI insured. The dependent child coverage is set to terminate on the service member's death, on 120 days after termination of the SGLI coverage, or on 120 days after the child loses status as an insurable dependent. When considering how much life insurance is enough, you need to determine what your family's financial needs are. What percentage do you contribute to your family's income? Without you, would your children have sufficient resources to live on, including the insurance proceeds? Do you support your ex-spouse through spousal maintenance, or alimony, payments? In addition to life insurance, there are many issues unique to military divorce cases. Division of pensions and military retirement funds. Long-distance parenting plans when a party is stationed overseas. As a military service member, you have important interests that need to be protected. At the Law Offices of Scott David Stewart, our family law attorneys invest the time to identify your unique needs, and get to know your priorities. When we advance to resolve your military divorce and related family matters, including child custody, visitation, and support, you can be confident that we will move in the right direction for you.