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Servicemembers Group Life Insurance Sgli

Servicemembers Group Life Insurance (SGLI)

Definition

Servicemembers Group Life Insurance (SGLI) — a low-cost group life insurance program designed by the Veterans Administration for service members on active duty, ready reservists, members of the National Guard, members of the Commissioned Corps of the National Oceanic and Atmospheric Administration and the Public Health Service, cadets and midshipmen of the four service academies, and members of the Reserve Officer Training Corps. The maximum amount of coverage is $400,000. Coverage is available for traumatic injury protection that provides service members protection against loss due to traumatic injuries and is designed to provide financial assistance to members so their loved ones can be with them during their recovery from their injuries. The coverage ranges from $25,000 to $100,000, depending on the nature of the injury.

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