Grrrrrrrrr Gotta vent

[witenite0560]

Re: Grrrrrrrrr Gotta vent

To my knowledge SGLI (Serviceman's Group Life Insurance) has nothing to do with your retirement pay. It's just Life insurance that's available to you as long as you're in the military or till you hit 55. I'm 50 and still in and it's a great deal, as far as life insurance goes. Your retirement pay and benefits are a completely different. VGLI (Veteran's Group Life Insurance) is what they make available to you after you retire and it is not such a good deal, though better than some civilian options. I won't hit my minimum retirement age until 56 and I doubt that I'll go with VGLI, we'll see.
If one is in the National Guard there are some other pretty good options in some states that will carry over even after you retire. However, you have to be enrolled in them before you hit 50 to really get a good deal. Might be something to look into.

Just sent my first check out today, because the wife wanted some more insurance.

::hmmm, why would that be a sudden concern?::

I saw the chart and I'm still in the 44-49? Group.

And witenite0560, SGLI is a different insurance that guarantees my retirement pay would continue after my death. The premiums increase as the returns diminish, from what I saw. Bad deal.

VGLI is a rather expensive Term Life, but there's no physical required and the return is steady. I think I could find a better term policy, but the wife wants it. I think I'm paying the price for her (senior officer) father's negligence, since he's obtained no life insurance and we will end up taking care of mom.

 

[DaNinja]

Re: Grrrrrrrrr Gotta vent

To my knowledge SGLI (Serviceman's Group Life Insurance) has nothing to do with your retirement pay. It's just Life insurance that's available to you as long as you're in the military or till you hit 55. I'm 50 and still in and it's a great deal, as far as life insurance goes. Your retirement pay and benefits are a completely different. VGLI (Veteran's Group Life Insurance) is what they make available to you after you retire and it is not such a good deal, though better than some civilian options. I won't hit my minimum retirement age until 56 and I doubt that I'll go with VGLI, we'll see.
If one is in the National Guard there are some other pretty good options in some states that will carry over even after you retire. However, you have to be enrolled in them before you hit 50 to really get a good deal. Might be something to look into.

You're right. I was describing Survivor Benefit Plan (SBP) which would maintain my retirement pay to my wife after I died. SBP is a lousy plan from what I could tell. The premiums keep going up and the amount(%) of retirement pay keeps going down.

 

[Huron Angler]

Re: Grrrrrrrrr Gotta vent

The declining housing prices have been pulling CPI down for years now. This is unfortunate for folks(ie. retirees) that have there home paid for, but still pay for food and energy.

The metrics on these things change when it benefits those in charge.

For example the Dow Jones Industrial Average would be around 7,000 if they had not swapped 4 companies when the writing was on the wall for GM and AIG. Like any statistics, they are built to suit those who quote them.

Best of luck to ya Bob.

 

[witenite0560]

Re: Grrrrrrrrr Gotta vent

You're right. I was describing Survivor Benefit Plan (SBP) which would maintain my retirement pay to my wife after I died. SBP is a lousy plan from what I could tell. The premiums keep going up and the amount(%) of retirement pay keeps going down.

Yep, gotta agree with you there!!

 

[Gary H NC]

Re: Grrrrrrrrr Gotta vent

Gary, because you're in an industry I am considering trying I was wondering why you don't just go with a nat'l carrier? is it just the home time or is there a different reason.

sorry to hear about your job loss.

OP sorry to hear about insurance increase but I think they're coming for all of us very soon.

Sending a PM Avenger...