Life Insurance for Military Families in Florida

Florida is home to more than 20 military installations and one of the largest veteran populations in the country. Whether you're active duty, reserves, National Guard, or a veteran, understanding your life insurance options is critical to protecting your family.

SGLI: Servicemembers' Group Life Insurance

Active duty service members automatically receive SGLI coverage up to $500,000. The premiums are very affordable — currently about $25 per month for the maximum coverage. SGLI is an excellent benefit, but it has limitations. It only lasts while you're on active duty (with a 120-day extension after separation), and the maximum coverage of $500,000 may not be enough for families with significant financial obligations.

VGLI: Veterans' Group Life Insurance

After separation, you can convert your SGLI to VGLI within 240 days without a medical exam. VGLI provides the same coverage amount but at significantly higher premiums that increase every five years based on your age. By your 50s and 60s, VGLI premiums can be two to three times more expensive than a comparable private policy.

For most veterans, converting SGLI to VGLI is not the best financial decision. A private term or permanent life insurance policy almost always offers better value, especially if you're in good health. The main advantage of VGLI is guaranteed acceptance — if you have serious health issues that would prevent you from qualifying for private coverage, VGLI guarantees you can maintain your coverage.

Private Insurance for Military Families

There's a common misconception that military service members and veterans can't get private life insurance or will face higher rates due to their service. In reality, most carriers are happy to insure military members, and rates are based on your health, age, and occupation — not your military status. Active duty members in non-combat roles typically qualify for standard rates.

The key consideration for active duty members is deployment. Some carriers have exclusions or waiting periods for deaths occurring in combat zones. Others provide full coverage regardless of where you're deployed. Make sure your policy doesn't have a war or military service exclusion if you're likely to deploy.

Supplementing Military Coverage

The best strategy for most military families is to use SGLI as a foundation and supplement it with a private policy. For example, if your family needs $1 million in coverage, keep your $500,000 SGLI and add a $500,000 private term policy. When you separate from service, the private policy continues while you evaluate whether VGLI or additional private coverage makes sense.

Spouse Coverage

Military spouses face unique challenges — frequent relocations that can disrupt careers, periods of single parenting during deployments, and the emotional toll of military life. SGLI offers family coverage for spouses up to $100,000, but this is rarely enough. A personal policy for your spouse ensures adequate coverage regardless of military moves.

Your military service protects our country. Make sure your family is equally protected with the right combination of military and private life insurance coverage. Don't assume SGLI alone is enough — it's a great start, but most families need more.