Thinking about post-military life insurance?

 

Veterans' Group Life Insurance policies pretty much turn into mortgages later on in life. At age 65, with the coverage set at its maximum ($500,000), the monthly premium is $735.

Think about that. $735 of YOUR pension...every.single.month...just to take care of those in your family that may need it.

There are other options. Navy Mutual, for example, offers twice the coverage on a term life, 30-year policy, for just over $100/month if you lock it in early in your 40s and you're in decent health.

I say 'decent' because we've all got our share of issues after decades of military service. Why not see if you qualify before it's too late? Sure, sure...you've got lots and lots of other decisions to make, but this one could save you big and cover your family into your elderly years. By the time it expires, you might be able to lean on your retirement accounts (IRA, TSP, etc.) for financially taking care of family if a term life policy has expired, right? 

Stationed abroad and insurance agencies telling you that you need to be stateside to take care of the required medical paperwork? Fear not - Give Navy Mutual a shout and I'm willing to bet that you can take care of the physical checkup requirements at your station overseas.

Things to think about...