Service members who insure their families through Servicemembers' Group Life Insurance (SGLI) will pay lower out-of-pocket premium rates, beginning July 1. The Department of Veterans Affairs, which sponsors SGLI, reduced family premiums in an effort to encourage more military members to elect coverage.
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Without insurance protection, life after the loss of a spouse can be not only challenging emotionally, but can place a severe financial strain on the family--VA Secretary Eric K. Shinseki
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Family premiums will drop by an average of eight percent. Under family SGLI (FSGLI), children are automatically covered for $10,000 at no premium. Spouses can be covered for up to $100,000, with premiums varying depending upon the age of the spouse.
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