Servicemembers' Group Life Insurance (SGLI)
SGLI is a program of low cost group life insurance for service members on active duty, ready reservists, members of the National Guard, members of the Commissioned Corps of the National Oceanic and Atmospheric Administration and the Public Health Service, cadets and midshipmen of the four service academies, and members of the Reserve Officer Training Corps. SGLI coverage is available in increments of $50,000 to a maximum of $400,000. SGLI premiums are currently $.065 per $1,000 of insurance, regardless of the member's age. Follow this link www.insurance.va.gov/sglisite/sgli/sglipremiums.htm to view a table of SGLI premium rates at different coverage levels.
The John Warner National Defense Authorization Act for Fiscal Year 2007 (Public Law 109-364) required reimbursement of premium deductions for SGLI for service members who have SGLI coverage, and who serve in the theater of operations for Operation Enduring Freedom (OEF) or Operation Iraqi Freedom (OIF). Effective September 1, 2010, OIF was changed to Operation New Dawn (OND) and authorization was provided to continue to pay all entitlements authorized for OIF to service members deployed in support of OND.
What this means to affected service members is that when you deploy for OEF or OND, and you have elected SGLI, you may increase your SGLI coverage amount to the maximum $400,000 and your premiums will increase as well (submit SGLV 8285 to your Personnel Office). HOWEVER, although you will see an increase in your premium on your Leave and Earnings Statement, you will also see a credit in an equal amount posted monthly (Air Force, Army, Marine Corps) or bi-monthly (Navy) as reimbursement by your Service. If you do not see the increase in your premiums or the reimbursement from your service on your LES within two months of your deployment, bring it to the attention of your Personnel Office immediately. Read more about your life insurance benefits and download a fillable SGLV 8285 and other forms at the Veterans Administration's website at http://www.insurance.va.gov/sglisite/default.htm.
— Defense Finance and Accounting Service (DFAS)