Flashcards in Group Life Insurance Deck (13)
What does SGLI stand for?
Servicemembers group life insurance
Ready reserve members receive how much of life insurance coverage?
Ready reserve numbers must complete how many drills annually to receive the automatic level of coverage?
12 drills days a year
What type of members will not be eligible for SGLI coverage?
Members assigned to ready reserve squadrons or augment units assigned to non-pay status or VTU.
What form must be completed to receive automatic coverage or decline coverage of SGLI?
When the maximum SGLI coverage is increased will members be automatically updated with new maximum amount?
Yes members will automatically be updated with maximum amount if members decline a new SGLV form 8286 must be completed
Who is responsible for collecting SGLI premiums?
SELRES Monthly Deductions.
Non -pay drilling reservist- forward billing statements
DELAYED ENTRY RESERVIST-date of enlistment .
What is the maximum days that can pass before SGLI will be terminated?
60 days and 120 days a written notice will be sent to the reservist official address
For beneficiary changes a spousal notification letter will be sent to?
Family SGLI was established when ?
November 1, 2001 extending coverage to spouses and children of service members
What is the max coverage for spouses and children under (FSGLI)
$10,000 per existing child and $100,000 spousal coverage
VGLI. Is offer to what non-drilling ready reservist?
Ready reservists who are separated from active duty and who have qualified or have been transferred to retired status or physically disabled.