The military services provide an array of different programs to support service members, their families, and retirees. Military services go beyond the paycheck by providing a total package of programs and benefits to take care of soldiers and their families. The main purpose of these programs and benefits allows soldiers to take care of their families, maintain combat readiness, and do not impair their ability to deploy and meet mission requirement.
Life Insurance benefits are important to both active duty service members and retirees. The military provides active duty an automatically activated Serviceman's Group Life Insurance (SGLI) program for $250,000 a maximum amount of coverage, unless the service member chooses lower or no coverage by submitting a VA Form SGLV-8266 and opts out in writing. Coverage is also available for dependents for $10,000. Service members released from active duty with full coverage may convert to a Veterans Life Insurance (VGLI) plan or an individual commercial life insurance plan.
Retirement Plans Offered
Military retirees have earned many benefits and entitlements due to their faithful service and in order for retirees to take advantage of their benefits and entitlements they must be knowledgeable to use them fully. There are several benefits available to veteran's that can help pay for college, buy a home, purchase life insurance, continue health benefits or find a job.
The military services provide a variety of retirement benefits and entitlements to active duty soldiers and their family members preparing for retirement. These services are provided through the military installation Retirement Services Officers (RSO). The military services help service members prepare for a civilian life-style by offering pre-retirement planning briefs that offer valuable information to help soldiers and their families long before the application for retirement is submitted. (www.basic.armystudyguide.com)
Some of the Pre-retirement information includes:...