2014 New Year’s Resolution: Find out if you have enough life insurance

1/15/2014

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Start 2014 by making sure you have enough life insurance to protect your family’s future. Remember, life insurance benefits provide a financial cushion that help replace your income, pay bills, and assist loved ones at a stressful time.

While active Army, Navy, Air Force, Marines and Coast Guard are automatically enrolled in low-cost Servicemembers Group Life Insurance (SGLI), it may not be enough. SGLI maxes out at $400,000. If you have family financial obligations, a mortgage, car payments, and other loans to pay off, you may need more than $400,000. Find out if you have enough life insurance by using this free Life Insurance Estimator.

Here’s something else to consider. If 2014 is the year you plan to retire or transition out of active military service, your SGLI ends 120 days after your active duty ends. What’s your plan for making sure there’s no gap in your life insurance and that your family’s protected? Get a quick, no-obligation life insurance quote from USBA.

USBA is a non-profit association offering members power-of-one group rates for quality, affordable life insurance from New York Life Insurance Company. Since USBA coverage is portable, those eligible can purchase it as an affordable supplement to SGLI while you’re still on active duty, then keep it after you transition or retire.

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