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Each active member is automatically insured up to what amount?
450,000
When are members of the IRR covered under SGLI?
only during the period of their ACDUTRA
What life insurance program are retired veterans covered under?
Veterans' Group Life Insurance (VGLI)
When can you recieve 50% of your SGLI or VGLI? What is this program called?
When you are diagnosed as terminally ill. Accelerated Benefit Option (ABO).
What is terminally ill defined as?
life expectancy of 9 months or less.
Who can request payment under ABO?
Only the insured
Members can decline or reduce coverage by filling out what form?
SGLV 8286
Termination of SGLI occurs on...
the 120th day after separation
the end of the 31st day absent without leave, confined by civil authorities, confined by military authorities
the last day of the month in which written notice to
discontinue coverage is filed
SGLI is forfeited when an insured member is...
guilty of mutiny
treason
spying
desertion
or refuses, because of conscientious objections, to perform service in the Armed Forces
of the United States; or refuses to wear the uniform of such
forces.
No insurance shall be payable for death inflicted as a
lawful punishment for crime or for military or naval offense,
except...
when inflicted by an enemy of the United States
If you are considered totally disabled for insurance purposes upon seperation from active duty, how long will SLGI cover you for after the date of seperation?
1 yr
Part-time SGLI coverage cost how much per $10,000?
$0.80
How long does an active duty member have to apply for VGLI following seperation?
1 yr 120 days
If an application for VGLI is not submitted within 120 days following seperation, what is required for eligability?
medical evidence of
insurability is required
Under no circumstances may a member indicate ___ ___ as
a beneficiary
by law
What should happen when a member cancels a previous designation of beneficiary?
the old SGLI election form shall be removed from
the member’s service record and destroyed
FSLGI automatically covers whom?
spouses and dependent children of
members participating in SGLI
How much are dependent children covered for under FSLGI?
$10,000
How much are spouses covered for under FSLGI?
$100,000
Veterans' Group Life Insurance is a
___ renewable term policy.
5-year
What is the only NSLI program of insurance
currently open to new issues?
Service Disabled Veterans Insurance (SDVI)
x of y cards