Servicemember's
Group Life Insurance (SGLI)
All
members of the uniformed services, including service academy
cadets are automatically insured under Servicemember's Group
Life Insurance (SGLI) for $250,000, unless they elect in writing
to be covered for a lesser amount, or not to be covered at all.
Full-time coverage is also provided, under certain conditions,
for (1) persons who volunteer for assignment to the Ready Reserve
of a uniformed service, and (2) persons assigned to or who,
upon application, would be eligible for assignment to the Retired
Reserve of a uniformed service and have completed at least 20
years of satisfactory service creditable for retirement purposes
but have not begun receiving retired pay.
Part-time coverage is provided, under certain conditions, to
members of the Reserves who do not qualify for full-time coverage.
SGLI has no loan, cash, paid-up or extended values.
SGLI is provided at no cost for 120 days following an individual's
separation or retirement from active duty.
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