What is SGLI an acronym for?

SGLI stands for Servicemember Group Life Insurance, which is a program administered by the Department of Veterans Affairs. This life insurance is specifically designed to provide coverage for active duty members of the Army, Navy, Air Force, Marine Corps, and Coast Guard, as well as members of the Commissioned Corps of the Public Health Service and the National Oceanic and Atmospheric Administration. The program offers low-cost term life insurance options to servicemembers, ensuring that they and their families have financial protection in the event of the servicemember's death.

The significance of understanding SGLI is crucial for servicemembers as it is an important benefit that can provide peace of mind regarding financial security for their loved ones. This knowledge is vital when considering overall benefits and military service administration, particularly in the context of transitioning to civilian life or understanding military entitlements.