SGLI rollover to VGLI?

[BigNavyPedsGuy]

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So, I was perusing the web the other day while planning how to manage that sweet sweet O-3 pay when I found a link on a the VA site http://www.insurance.va.gov/sgliSite/SGLI/SGLI.htm
This says that you can convert the SGLI to a Veteran's Group Life Insurance.

Has anyone done this? Did it work? Should/Can I count on that and subtract it when purchasing additional life insurance?

Thanks, BTW I'm less disgruntled about my future GMO these days . . . in case you were wondering.

 

[NavyFP]

So, I was perusing the web the other day while planning how to manage that sweet sweet O-3 pay when I found a link on a the VA site http://www.insurance.va.gov/sgliSite/SGLI/SGLI.htm
This says that you can convert the SGLI to a Veteran's Group Life Insurance.

Has anyone done this? Did it work? Should/Can I count on that and subtract it when purchasing additional life insurance?

Thanks, BTW I'm less disgruntled about my future GMO these days . . . in case you were wondering.

Never been a Vet, but yes you can. Term insurance is so cheap these days, it may not be cheaper. Shop around for prices. The key is that if you do it immediately following AD you don't need a physical or such.

 

[sethco]

I know I will forget about this in a couple of years, so for anybody that has gone through the RAD briefings, was this briefed there?

BTW, BNPG, glad to see that you are adjusting to the idea of being a GMO. Are you going to do your ADSC, then get out and do residency or are you going to reapply to the JSGME midway through your GMO tour?

 

[BomberDoc]

I know I will forget about this in a couple of years, so for anybody that has gone through the RAD briefings, was this briefed there?

It is briefed during the RAD (release from active duty) or TAP (transition assistance program) briefings. I have the 3 days of massive TAP briefings next week.

Everybody should have life insurance, but not everybody needs the same life insurance. If you have a family, you definitely need some good coverage. If you are a young single dude or dudette, you just need to cover your debts and funeral costs so nobody inherits them (unless you are an orphan or a douchebag and don't give a damn).