WASHINGTON — U.S. Senator Kevin Cramer (R-ND), member of the Senate Veterans Affairs Committee (SVAC), and Senator Tommy Tuberville’s (R-AL) bill to increase service members’ life insurance benefit coverage was signed into law yesterday. The Supporting Families of the Fallen Act increases the U.S. Department of Veterans’ Affairs Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI) coverage amount from $400,000 to $500,000. Until yesterday, SGLI and VGLI coverage amounts had not been updated since 2005. “At a time when inflation is soaring to record highs, this new law will allow our veterans to better provide their families with stability and peace of mind...
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This article originally appeared on Military.com. Follow on Twitter. Service members and veterans will be able to increase their maximum life insurance coverage by $100,000 under a bill that recently cleared Congress. The bill, dubbed the Supporting Families of the Fallen Act, will boost maximum coverage for both the Servicemembers’ Group Life Insurance plan and the Veterans’ Group Life Insurance plan for the first time since 2005. The measure, which passed the Senate earlier this year, was approved unanimously by the House on Thursday, sending the bill to President Joe Biden’s desk for his expected signature. “Our military families support our war fighters in...
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Military strongest cash accumulation life insurance products TWA has a strong history of serving the men and women who protect our great nation. We are a company founded by a WWII Marine for the purpose of creating insurance products for military personnel and their families. From the days back in 1956, when we opened our doors, until today, we have kept our promise of providing only the most stable and strongest cash accumulation life insurance products to our U.S. military and U.S. government personnel. We have long recognized the important role life insurance plays within the military community. Protecting the assets, future earnings and financial goals of military families is something...
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Armed forces life insurance: what you need to know If you’re in the armed forces, you might be thinking about putting some cover in place to protect your loved ones. You should think about getting military life insurance if: You have a spouse or partner and joint financial commitments Your partner would struggle to pay the bills if something happened to you You want to leave a legacy to your children. While you may think that insurers won’t consider anyone in the Army, Navy, Air Force or Royal Marines, many of the UK’s leading providers will offer cover – and this may even be at standard rates. We work closely with the UK’s leading insurers to help you get the right armed forces life...
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Benefits As a new or existing federal employee, you and your family may have access to a range of benefits. Your benefits depend on the type of position you have—whether you’re a permanent, part-time, temporary or an intermittent employee. You may be eligible for the following benefits. However, check with your agency to make sure you’re eligible under their policies. Health insurance Most employees are eligible for the Federal Employee Health Benefits Program (FEHB). This program offers health insurance for you, your spouse and your children under the age of 26. It offers many different health plan choices, so you can find a plan that works best for you and your family. Dental and vision...
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SAN ANTONIO, Sept. 6, 2022 /PRNewswire/ -- Inflation is top-of-mind for most Americans, as a majority say that they have reduced household spending in many areas except when it comes to retirement savings and life insurance. A new USAA Life Insurance Company survey explored how American civilian and military-connected families are faring in today's economy and the financial decisions they are making as a result. While 55% of civilian and 56% of military-connected families—those who have family members serving or have served in the military —said they have already made spending cuts, less than 20% of both groups report having made reductions in their life insurance expenses. The areas most...
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TSGLI (also known as Servicemembers’ Group Life Insurance Traumatic Injury Protection) is a type of insurance coverage that compensates military service members who suffer certain traumatic injuries while serving in the military. TSGLI payments can range from $25,000 to $100,000 depending on the nature of the traumatic injury. The coverage applies no matter if a service member was injured on-duty or off-duty. TSGLI is retroactive so that it covers qualifying injuries incurred after October 7, 2001. A service member can receive benefits if he/she suffered a traumatic injury after this date and was covered by Servicemembers’ Group Life Insurance (SGLI). The traumatic injury protection program...
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September is an extra-special month for us here at Combined Insurance because it’s both Hispanic Heritage month and Life Insurance Awareness Month. We have a diverse group of employees working every day to ensure our customers receive the best life insurance options that fulfill their unique needs while also providing excellent customer service in both English and Spanish. We want you to understand what life insurance is, why it matters, whether or not it’s right for you, and if you have enough. · Contact our agents for a personalized consultation for yourself or your workforce Life insurance is a way for your family to ensure that in the event of the death of a loved one, you are...
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WASHINGTON, D.C. – U.S. Senators Sherrod Brown (D-OH) and John Boozman (R-AR) introduced the Faster Payments to Veterans’ Survivors Act of 2022 which will ensure veterans’ surviving family members or beneficiaries will receive the Department of Veterans Affairs (VA) benefits their loved ones earned through their service to our country in a timely fashion. This legislation will not only assist with paying these beneficiaries, but also will help identify and locate those who are owed these undisbursed funds. “Our veterans and their families have sacrificed so much to serve our country. They shouldn’t have to wait to receive their earned benefits after a loved one passes away,” said Brown. “...
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Veterans put their lives on the line fighting to protect our way of life and rights as everyday Americans. For this reason and more, it’s paramount we serve our veterans as well as they served us, and one way to do this is through providing life insurance. Life insurance plays a pivotal role in providing financial protection for families all around the globe. For veterans, life insurance can make all the difference by providing their families with long-term financial security given the “extraordinary risks involved in military service.” Life Insurance Options for Veterans Life insurance is a valuable asset for many Americans, especially for veterans. So, when it comes to...
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