The Servicemembers’ Group Life Insurance (SGLI) program will adjust its monthly premium rate from 6.5 cents per $1,000 back to the 2006 rate of seven cents per $1,000 of insurance, a modest increase to ensure the SGLI program remains in a strong financial position. For a Service member with the maximum $400,000 of life insurance, this change will mean an increase of two dollars a month. The new premium rate will take effect on July 1, 2014. Individual Ready Reserve members who are drilling for points toward retirement or who do not receive pay for other reasons will be billed by their branch of service for the higher premium beginning in July 2014. For information on the new rates, visit benefits.va.gov/insurance/sgli.asp
Posted on: Fri, 02 May 2014 13:28:00 +0000
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