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SERVICEMEN’S
GROUP
LIFE
INSURoANCE
Each member serving on active duty, performing
annual training,
or performing inactive duty training
is
eligible to be insured under the SGLI up to a maximum
of $200,000 while he/she is on active duty, and 120 days
after separation.
The cost of SGLI for the maximum
coverage, for eligible members, is $18.00 per month, as
reflected on the leave and earnings statement.
Refer to part 7, chapter 4, of the of the Department
of Defense
Financial
Management
Regulation
(DODFMR)
Military
Pay, Policy,
and
Procedures,
Volume 7, part A, DOD 7000.14-R, and article 6230120
of the
MILPERSMAN
for
additional
information
concerning
SGLI.
VETERANS
GROUP
LIFE
INSURANCE
The VGLI
was created by Public Law 93-289 and
became effective
on 1 August
1974. VGLI is a &year
nonrenewable
term
policy
that
has no cash, loan,
paid-up, or extended values.
Members
on active
duty
who
are entitled
to
full-time
coverage and who have SGLI in force at the
time
of separation
or release
from active
duty
are
automatically
eligible for VGLI in the same amounts as
the SGLI held at the time of separation
or release.
Application
and payment of the first premium must be
made within
120 days of separation
and should be sent
to tile Office of Servicemen’s
Group
Life Insurance
(OSGLI), 213 Washington
Street, Newark, NJ 07102.
The DVA receives
a copy of the Certificate
of
Release or Discharge
from Active Duty, DD Form 214
on personnel.
who
are released
from
active
duty,
discharged, retired, and transferred to the Fleet Reserve.
They
automatically
send the
separatee
a booklet
explaining
the VGLI
and an Application
for Veterans
Group
Life
Insurance,
SGLV-8714,
within
approximately
30 to 40 days after separation.
If application
is not made within
120 day period,
application
may be made within
1 year after separation
provided
evidence
of good
health
is
supplied.
Remember, automatic
coverage under SGLI expires on
the 120th day after separation and you should make sure
that all members separating are aware of this coverage
expiration.
Refer to Article
6230120 of the MILPERSMAN
for
additional
information
concerning
VGLI.
DEPENDENCY
AND INDEMNITY
COMPENSATION
Dependency
and Indemnity
Compensation
(DIC)
provides partial
compensation to surviving
dependents
for the loss of financial
support sustained as a result of
the
veteran’s
service-connected
death.
Eligible
denendents are listed as follows:
.L
1.
2.
3.
Widow.
or widower,
who
must
have
been
married for 1 year or more or for any period of
time
if a child
was born
of or before
the
marriage.
Children under the age of 18, and in some cases
(attending
DVA approved schools) up to age 23.
Parents, according to their income.
To determine
eligibility
criteria,
refer
to the
following
sources:
Retention Team Manual,
which your command’s
career counselor (CCC) should have.
The
Federal
Benefits
for
Veterans
and
Dependents,
Pamphlet
80-93-1, which
can be
ordered through the normal supply system.
Summary
of Department
of Veterans Affairs
Benefits,
VA Pamphlet
27-82-2, which
can be
obtained
from
the
regional
Department
of
Veterans Affairs Office.
SOCIAL
SECURITY
Title IV of the Servicemen’s and Veterans’ Survivor
Benefit Act, Public Law 881, 84th Congress, provides
wage credits for active military
service toward
Social
Security benefits. Under this Act, on or after 1 January
1957, all members of the Armed Services of the United
States performing active duty, annual training,
including
Midshipmen
at the Naval
Academy
and NROTC
Midshipmen
and Contract Students during such period
when they are ordered to annual
training
(summer
cruises),
come under
the
contributory
coverage
provisions
of the Social Security
System.
Retired
members
are
entitled
to both
full
retired/retainer
pay and the full social security pension
they have earned under
this Act. However,
retired
military
members who combine their
military
service
with
civil
service
to qualify
for
a Civil
Service
retirement will lose a portion of their military
retirement
. PaYe
13-30
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