If you’re in the Armed Forces and looking to add life insurance on top of your Service Members Group Life Insurance (SGLI) benefits, you now have some options.
First off, if you don’t have SGLI… go get it. It will in most cases be the cheapest life insurance you can find. You can even convert it to VGLI when you leave the military. However, if you’re maxed out of those benefits which many military with families do, you have some choices.
Typically, most life insurance companies will cover you if you’re in the armed forces, but they will exclude war. And almost every life insurance will decline you if you have deployment orders.
However, there are 2 individual life insurance companies writing life insurance for our United States Military and Armed Forces. This includes coverage with NO war restrictions or war-zone exclusion riders. Even if you have deployment orders, you can qualify for life insurance.
The only catch is you have to sign the application and complete all underwriting requirements on American soil. You can’t be stationed overseas and apply.
Members of the following special forces units WILL NOT be considered: Army Special Forces and Rangers, Delta Force, Navy SEAL or Special Warfare Development Group, Marine Force Reconnaissance and Air Force Special Forces.
Also important to note, if your military duties include extra risks, such as piloting or bomb diffusing, you will be underwritten for your risks. (Yes we insure pilots and bomb diffusers)
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Other than that, if you’re active in the armed forces, you want to take a look at these 2 VERY well known life insurance companies: Prudential and MetLife.
Prudential has been writing life insurance for the armed forces for years, but MetLife just entered the game recently. Both of them are very strong companies, but each one of them will look at your risk differently. The key to finding the best life insurance rate is finding the company that will look at your risk more favorably.
That’s exactly what we’ll do for you – figure out which company will look at you most favorably.
If you call our team at RootFin.com or fill out our quote request form, we’ll compare the rates for both Prudential and MetLife to determine who will offer the best rates.