Converting VGLI Coverage to a Commercial Policy
The military offers a number of benefits worth considering. In addition to these noteworthy benefits, the military also realizes its members need for flexibility. Consequently, the process for a veteran to convert from Veterans Group Life Insurance to a commercial policy is fast and easy.Veterans Group Life Insurance (VGLI) is offered to military service members who have met the minimum requirements for their particular department. Plans are available for military service members who have been separated from their duties. Generally, these plans can be purchase in increments of $10,000 and allow for a maximum coverage of $400,000. It should be noted that the plan is optional for any military service member who has recently been separated from duty.For those looking to convert from VGLI to a commercial policy, there are a few steps that need to be completed. First, a service member must select a provider from the Participating Companies Listing. Once this eligible company is chosen, the service member should apply to a local sales office associated with the company. After that, a former military servant needs to provide a notice of SGLI conversion, which can be obtained from the Office of Servicemembers Group Life Insurance. This notice needs to be submitted to the agent who is handling the whole application.Evidently, the military realizes the need for both convenience and flexibility. The insurance policies that the military offers, in addition to the capability of transferring to a private policy, is a testament to the militarys recognition of its veterans values. In short, while VGLI is a plan that a veteran may have difficulty refusing, it is not a veterans only option upon separation.
