Government life insurance

Coverage for present and past U.S. uniformed services members under one of these programs:

1. United States Government Life Insurance (USGLI)—established in 1919 to provide RENEWABLE TERM LIFE INSURANCE up to $10,000.This program is no longer available.
2.   National Service Life Insurance (NSLI)—established in 1940 to take the place of USGLI; terminated in 1950. Today NSLI existsfor amounts ranging from $1000 to $10,000 under five-year renewable term and permanent forms of life insurance. The latter policieshave the same nonforfeiture benefits and OPTIONAL MODES OF SETTLEMENT as COMMERCIAL FORMS of life insurance.
3. SERVICEMEN'S GROUP LIFE INSURANCE (SGLI)—established in 1965 to cover active members of the U.S. uniformed forces; purchasedthrough commercial insurance companies on a group basis at a government subsidized rate. Each service person pays a premiumthat reflects nonmilitary mortality expectation and administrative expenses. The federal government subsidizes the premium by paying for any extra mortality and administrative expenses associated with the military exposure. Upon discharge, a SGLI policy can be converted, regardless of physical condition, to a five-year nonrenewable Veterans Group Life Policy (VGLI), and then can be converted (after five years)—again regardless of health—to an individual life policy with any of the participating commercial life insurance companies.
4.   VETERANS GROUP LIFE INSURANCE (VGLI)—nonrenewable convertible five-year term insurance to which SGLI is converted at thetime a service person is discharged. It has no cash or loan value, disability benefits, paid-up benefits, or extended term benefits. Itcan be converted to an individual policy with a participating company.

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