Military families know better than anyone that life can change in an instant. Between deployments, relocations, and the everyday sacrifices of service, it can be easy to overlook some of the details that affect your family’s financial security. One area that often gets overlooked is final expense insurance — even for those already covered under Servicemembers’ Group Life Insurance (SGLI).
The Limits of SGLI Coverage
SGLI offers valuable life insurance protection during active duty and certain reserve periods. However, it’s temporary and limited:
- Coverage ends shortly after separation from service (usually 120 days after discharge unless converted to Veterans’ Group Life Insurance).
- The maximum benefit amount, typically up to $500,000, may not fully meet long-term family needs, especially after retirement or if debts, medical costs, or funeral expenses increase.
- Conversion to VGLI can mean higher premiums as you age, making it harder to maintain adequate coverage later in life.
These factors can leave a financial gap for surviving family members, especially when it comes to covering immediate final expenses such as funeral costs, medical bills, and lingering debts.
What Final Expense Insurance Offers
Final expense insurance, sometimes called burial insurance, is designed to ease that burden. Here’s what makes it a smart choice for military families:
- Permanent coverage – Unlike SGLI, this policy doesn’t expire when you separate from service.
- Affordable premiums – Coverage amounts are smaller and tailored to cover funeral and end-of-life costs, keeping premiums low and manageable.
- Simplified application – No medical exam is required in many cases, making it quick and easy to secure.
- Peace of mind – It ensures your loved ones won’t face unexpected financial stress during a difficult time.
Filling the Coverage Gap
Even with SGLI or VGLI in place, a final expense policy serves as an additional layer of protection. It guarantees that funeral and burial costs are handled, allowing SGLI benefits to be preserved for mortgage payments, education, or income replacement.
For many families, this small, separate policy provides financial stability and emotional relief, two things that can make all the difference when tragedy strikes.
Your service to our country demonstrates courage and foresight. Now, extend that same mindset to your financial planning. By adding a final expense insurance policy, you ensure that your family’s focus remains on honoring your legacy, not worrying about costs.
