DoD offers several life insurance programs for active duty servicemembers and their family members. They are Servicemembers’ Group Life Insurance, Family Members Group Life Insurance, and Traumatic Servicemembers Group Life Insurance.
When a servicemember leaves active duty, Servicemembers’ Group Life Insurance (SGLI) may be converted to Veterans’ Group Life Insurance (VGLI) within 240 days of leaving active duty without having to answer health questions. If the servicemember for whom you care is being discharged or retired from the servcie and is wounded, ill, or injured, it might prohibit you from buying commercial life insurance. VGLI might be a very important purchase. Family Servicemembers’ Group Life Insurance (FSGLI) may be converted to commercial life insurance when the servicemember separates or retires.
The Traumatic Servicemembers' Group Life Insurance (TSGLI) rider program under the Servicemembers’ Group Life Insurance program provides payment to any servicemember who sustains a traumatic injury that results in certain losses from that injury. The benefit must be applied for through the branch of service to which the servicemember belongs. The servicemember and caregiver can receive free financial counseling through the VA upon receipt of a TSGLI payout.