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Flashcards in Group Life Insurance Deck (13)
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0
Q

Ready reserve members receive how much of life insurance coverage?

A

$400,000

1
Q

What does SGLI stand for?

A

Servicemembers group life insurance

2
Q

Ready reserve numbers must complete how many drills annually to receive the automatic level of coverage?

A

12 drills days a year

3
Q

What type of members will not be eligible for SGLI coverage?

A

Members assigned to ready reserve squadrons or augment units assigned to non-pay status or VTU.

4
Q

What form must be completed to receive automatic coverage or decline coverage of SGLI?

A

SGLV 8286

5
Q

When the maximum SGLI coverage is increased will members be automatically updated with new maximum amount?

A

Yes members will automatically be updated with maximum amount if members decline a new SGLV form 8286 must be completed

6
Q

Who is responsible for collecting SGLI premiums?

A

DFAS
SELRES Monthly Deductions.
Non -pay drilling reservist- forward billing statements
DELAYED ENTRY RESERVIST-date of enlistment .

7
Q

What is the maximum days that can pass before SGLI will be terminated?

A

60 days and 120 days a written notice will be sent to the reservist official address

8
Q

For beneficiary changes a spousal notification letter will be sent to?

A

NAVPERS (PERS-312C)

9
Q

Family SGLI was established when ?

A

November 1, 2001 extending coverage to spouses and children of service members

10
Q

What is the max coverage for spouses and children under (FSGLI)

A

$10,000 per existing child and $100,000 spousal coverage

11
Q

VGLI. Is offer to what non-drilling ready reservist?

A

Ready reservists who are separated from active duty and who have qualified or have been transferred to retired status or physically disabled.

12
Q

May individual combine the amount of SGLI AND VGLI in excess of $40,000 at any time?

A

No