SGLI premium increase on July 1, 2014

July 1, 2014 service members of all uniformed services will see an increase to Servicemembers Group Life Insurance (SGLI) premiums of $0.5 cents per $1000 of coverage. Previously, the cost maximum coverage of $400,000 was $26 per month. After July 1, the monthly cost for maximum coverage will go up to $28. Coverage via SGLI is automatic, so deductions will show on a Leave and Earnings Statement (LES), unless the service member opts out of the program. An additional $1 is also deducted to cover the premium for Traumatic Injury Protection (TSGLI) coverage.  More information about the SGLI and eligibility can be found here.

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