Life Insurance for Military Dependents

Learn more about life insurance for military dependents and find information with our free online comparison tools and review guide. A private veterans insurance policy may work for your household, depending on factors like family size, disability status, and homeownership. Compare quotes and find the best rates today.

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Rachael Brennan has been working in the insurance industry since 2006 when she began working as a licensed insurance representative for 21st Century Insurance, during which time she earned her Property and Casualty license in all 50 states. After several years she expanded her insurance expertise, earning her license in Health and AD&D insurance as well. She has worked for small health in...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Jul 19, 2021

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Quick Facts

  • All active duty service members are insured by SGLI (Servicemembers Group Life Insurance), but this may not be enough coverage for your family
  • Some veterans are denied insurance policies due to pre-existing conditions
  • Depending on your family size, cost of living expenses, and marital status, a supplemental life insurance policy may help

Active duty service members and veterans face unique challenges and concerns when addressing their term insurance or permanent life insurance needs. Preparing for the future and the present are both essential considerations for anyone serving our country.

Start comparing life insurance quotes for military dependents today. Enter your ZIP code in the FREE online quote tool above.

Servicemembers’ Group Life Insurance (SGLI)

SGLI, or Servicemembers’ Group Life Insurance, is a service provided by the VA. SGLI covers life insurance for all active members of the military.  Service members are automatically insured, up to a maximum of $400,000.

Some active duty members feel confident with this level of coverage.  However, supplemental private insurance is often added to existing group life insurance policies.

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Is SGLI enough coverage for my military family?

Each service member will have different financial needs, and a supplemental term life insurance policy may be the best option for active duty members or veterans.

Finding veterans life insurance quotes online is easy, but choosing the best policy for your needs takes careful consideration of several factors:

  • Location – SGLI provides a fixed maximum coverage rate. Depending on where you live, expenses may vary greatly.

An Air Force life insurance policy may provide great coverage for someone stationed in Idaho for example, but may not work for someone stationed near New York City.

  • Dependents – Some families are larger than others. Working with a military dependents life insurance company, which specializes in providing additional coverage to military families, may offer the best coverage options for your family’s unique needs.
  • Disability status – Active duty service members always face the risk of severe injury. This reality affects both future considerations for life insurance and current needs in the aftermath of a disabling event.

Some private life insurance plans provide specific coverage for severe injuries coupled with term life insurance options.

  • Homeownership – In the event of a tragedy, your family will need to be in a position to pay off your mortgage with the insurance coverage provided. Depending on the size of your loan, this may not be possible with SGLI.

If you rent, it’s recommended that your insurance policy cover at least 12 months’ rent, in addition to moving expenses, which may include a down payment and closing costs on a new home.

  • Spousal status – Your spouse’s military status and income will also factor into your potential need for supplementary private life insurance.

For example, let’s suppose your spouse serves for the National Guard, life insurance would then be covered by their individual SGLI policy.

If your spouse is a civilian and does not currently have an existing term or permanent life insurance policy, a private insurance option may be necessary to cover the value of their household contribution. Life insurance for military spouses is a critical concern.

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Life insurance options for veterans

SGLI typically expires after 120 days once a service member discharges.  Depending on your financial situation, several different options may provide the most affordable life insurance for military dependents.

After your service period has ended, veterans insurance options typically involve several considerations, including family size, homeownership, and disability status.

Is private life insurance available for all veterans?

Unfortunately, many private insurance companies determine that veterans are often uninsurable, due to pre-existing conditions.  GI life insurance, or “Guaranteed Issue” life insurance, in one option that veterans can lean on after SGLI expires.

This type of no medical exam term life insurance requires a waiting period, and often incurs higher premiums, as the medical underwriting process is completely avoided.

Finding the right coverage for your family’s needs takes careful consideration, and a full evaluation of your financial profile.

Working with companies who specialize in military life insurance can help veterans and active duty service members find tailor-made insurance plans, rider benefits, and coverage transition options that other companies simply won’t be able to accommodate.

Start comparing life insurance for military dependent quotes to find the best rates by entering your ZIP code in the FREE online quote tool below.

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