Noteboom The Law Firm

Veteran’s Spouse and Dependant Life Insurance Premiums Cut

May 6, 2010 - The Department of Veterans Affairs (VA) offers many benefits and programs to veterans as well as for veteran's families. It is vital to the survival of a military family that their family is taken care of and supported as much as possible.

Filling a fundamental need, the Family Service-members' Group Life Insurance (FSGLI) program offers life insurance to the spouses and dependant children of veterans. Spouses can get up to $100,000 in coverage while dependant children can get up to $10,000. The amount of coverage, however, cannot surpass the amount of SGLI insurance the service member carries. Dependant children must be unmarried and fall into one of the following categories:  

• Natural born child;
• Legally adopted child;
• A Stepchild who is a member of the soldier's household;
• A child between 18-23 years of age and a full-time student; or
• A child who became permanently incapable of self-support before the age of 18.

 Starting July 1, the FSGLI will be lowering the insurance premiums for all age groups by about 8%. This will be the third cut in premiums since November 2001, when the program began. The reduced premiums are a result of lowered costs of operating the program. VA Secretary Eric Shinseki looks at the reduction in cost of the premiums will help more soldiers acquire life insurance for themselves and their families.