When you are enlisted in the United States Military, you have a level of life insurance coverage automatically. Congress has adjusted the different levels of Insurance coverage that are available to personnel serving on active duty in the military. It is one of the best deals that is available only to members of the military. Active duty Servicemembers are eligible for up to $400,000 dollars under the Group Life Military Servicemember Insurance Program. There are different amounts that are lower available, but for the maximum amount of coverage the monthly cost is only $28 dollars a month. The current level of Servicemember life insurance was changed in July of 2006 by an act of Congress. Whatever level of coverage that a Servicemember chooses the amount is automatically deducted from their basic pay, so its not even a issue that many Servicemembers are even aware of.
Most of the time the coverage that a enlisted Servicemember signs up for they are not even aware of, because they tend to sign up for the coverage and from the very first the amount is taken from their monthly pay and they never even realize it. It is a small premium that tends to not be taken much notice of. This insurance is excellent as it is only 7 cents per thousand dollars of coverage, which tends to exceed anything close to comparable in the private civilian world. There are also policy coverage options available for dependents and spouses. The amounts that are available for dependents vary.
Find the Military Career right for YOU ! Click here for more Information.
The amounts involved in dependent coverage vary from $10,000 dollars up to $100,000 and the overall premium cost varies with the age of the dependent. For coverage for a spouse the cost starts at $6 dollars if the spouse is not yet 32 years of age up to a possible high of $55 dollars if the spouse is over 60 years old. These are the amounts for coverage at the maximum amount of $100,000 dollars.
There has also been an additional insurance coverage for Traumatic Injury that has been added automatically since the changes began in 2006. This coverage is available for $1 dollar and amounts payable for trauma injury vary from $50 thousand dollars to $100 thousand dollars. Some of the coverage was also ordered to be retroactive back to 2001 for some injury cases.