Life insurance is designed to provide future protection for your family and ensure their financial stability should something happen to you. Having this protection in place gives you great peace of mind. However, if your life insurance coverage is provided by your employer, and you don’t own your policy, a career change can impact this protection.
If you’re currently serving in the U.S. military with SGLI or working as a Federal employee with FEGLI, the value of also having portable life insurance - such as that available from USBA is that you own it. This means you can keep this life insurance even after you transition or retire from your military or Federal job.
USBA group life is portable, you can keep it wherever your career takes you.
For Federal employees, USBA group life insurance can be purchased as an alternative or supplement to FEGLI. Federal employee life insurance (FEGLI) changes upon retirement with either a reduction in coverage or an increase in premium, and if you leave Federal employment before retiring, FEGLI ends.
In the case of military service, your SGLI ends 120 days after separation from the service. VGLI allows you to convert your SGLI coverage to a renewable term life insurance policy. However, VGLI only provides up to a maximum of $400,000 of insurance coverage, and is issued in $10,000 increments up to the amount of SGLI you had at the time of separation. USBA lets you combine coverage to provide up to $750,000 in benefits for your family.
We are dedicated to serving those who serve our Nation with economical rates and great coverage options. For example, $100,000 worth of coverage starts at $5.75 per month for our most popular 15 Year Group Level Term Life Insurance plan.*
Take a minute to learn about the other features and benefits of USBA’s portable life insurance products and services. Remember these affordable plans offer benefits that do not change due to transition, separation or retirement. USBA can even give you an instant quote for free!
*Example premium for a 24-year-old Female on a Preferred Rate plan.