U.S. Air Force: Veteran Affairs to Decrease Servicemembers Group Life Insurance Rates Effective July 1

BUCKLEY AIR FORCE BASE, Colorado, June 26 -- The U.S. Air Force Air Reserve Personnel Center issued the following news:

Good news for service members' wallets! Effective July 1, 2019, the SGLI premium rate is decreasing. If you have coverage now, nothing will change except the price will be lower. Premiums are dropping $4 per month for those with maximum coverage. SGLI is available in $50,000 increments, up to a maximum of $400,000.

Learn how to get SGLI at Department of Veteran Affairs Life Insurance, even if you've previously declined coverage. You do not need take any action to receive the decreased rate; the reduction is automatic and will reflect in your LES accordingly.

SGLI New Monthly Premium Rates vs. Old Monthly Premium Rates

To view table click here: https://www.arpc.afrc.af.mil/News/Article-Display/Article/1888508/va-to-decrease-sgli-rates-effective-july-1/

Have you already elected and certified your SGLI in the Servicemembers Group Life Insurance On Line Enrollment System (SOES)? It's important to ensure your beneficiary information is updated. Why? Should something unfortunately happen, it will be much easier for your family members to file a claim and receive the benefit more quickly. Service members should review their beneficiary information annually to review information for accuracy. It's easy to lose track of time and not remember if you changed your address last time you moved. A regular beneficiary review each year will make sure you capture updated such as a recent changes of address. Certain life events such as marriage or the birth of a child, divorce, or deployments should also trigger a review of your beneficiary information.

To access SOES, sign into MilConnect login using your CAC. Go to the Benefits Tab, Life Insurance SOES- SGLI Online Enrollment System.