Veterans and Service Members to Enjoy Discounted Life Insurance Premiums

Lower Premiums for Life Insurance: A Welcome Relief for Veterans and Their Families

Starting July 1, 2025, service members, their spouses, and veterans will receive significant discounts on life insurance premiums, marking a substantial effort to make these essential financial products more accessible. This initiative by the Veterans Affairs (VA) aims to help military families safeguard their financial future while easing some of the financial burden typically associated with life insurance.

What These Discounts Mean for Service Members

The Servicemembers’ Group Life Insurance (SGLI) program is at the forefront of this change, reducing premiums from $0.06 to $0.05 per $1,000 of coverage. This translates into a decrease for maximum coverage, where monthly premiums will now drop to $25, plus a nominal fee for Traumatic Injury Protection (TSGLI). Importantly, all eligible service members—active duty, Guard, and Reserve—are automatically enrolled in this program, meaning no additional action is required to receive this benefit.

Family Coverage Made More Affordable

In tandem with SGLI discounts, the Family Servicemembers’ Group Life Insurance (FSGLI) program will benefit active service members' spouses and children as well. With discounts varying from 11% to 22%, depending on age, this means that families can better prepare for unforeseen circumstances without the heavy financial strain of increased premiums.

A Lifeline for Veterans with VGLI

The Veterans’ Group Life Insurance (VGLI), designed for veterans to maintain their life insurance after leaving service, will also see its monthly premiums reduced starting July 1, 2025. This ensures that veterans can continue to enjoy financial protection as they transition into civilian life, an often challenging period that can come with uncertainties.

Looking Ahead: The Importance of These Adjustments

Overall, the VA’s commitment to lowering life insurance premiums is more than just a financial decision; it reflects an understanding of the unique challenges faced by service members, their families, and veterans. These changes are aimed at providing peace of mind for those who’ve dedicated their lives to serving the nation, emphasizing the importance of accessible benefits.

As these discounted rates take effect, service members and veterans in Jacksonville and beyond should take advantage of these offerings to secure their futures. For more specific information about their coverage options or for assistance, they can visit the SGLI Online Enrollment System through milConnect.