How Much Will You Get From The Military For Your Life Insurance?
Posted July 3, 2009 – 8:42 pm in: structured settlements FAQHow much will you get from the military for your life insurance?
How much will you get from the military for your life insurance? my cousin’s husband was in military and the autopsy result said that he got a scratch in his throat something like that…it was caused by the smoke during the war. so my cousin will probably get a big amount of money from military for his husband’s death.. so how much it will be? including the life insurance that she will get from the military too…
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That would depend on how much life insurance he chose. Servicemember’s Group Life Insurance (SGLI) covers up to $400,000, if he was still in the military. If he retired from the military, he had an option to convert his SGLI policy to Veteran’s Group Life Insurance (VGLI). Also, if he died while he was on active duty, there is an additional $100,000 policy.
If he was out of the military at the time of his death, and he did not convert to VGLI, or to a civilian plan, she won’t get anything from the military, except $450 for a headstone.
Social Security will also provide a death benefit of $250, if qualified.
If he had applied for disability through the VA due to his condition, once the approval goes through, she will get a lump sum back to when he applied, then a monthy check.
Your cousin should check with the Veteran’s Administration to find out about all the benefits that she qualifies for.