A reader asks about the post how much life insurance is necessary: I just thought of a follow-up question to this article because it really got me thinking about getting rid of our SGLI coverage. What kind of benefits will a spouse or family receive if an active duty member dies? I found this report about survivor benefits: It states that the … [Read more...] about “Do I Really Need Servicemembers Group Life Insurance?”
A reader asks: I did five years of active duty and over 15 years in the Reserves. I just turned 60 years old and am now getting a military pension. My question is regarding Tricare. I just retired from my civilian employer and they do not offer any health insurance. I plan on using Tricare Standard for my only health insurance. Is Tricare … [Read more...] about Is Tricare Standard good enough?
A reader writes: Hey Nords! Hope all is well. Update: I got denied for TERA and promptly got an assignment (my first choice) 24 hours later, so I can't complain too much. Question for you if you don’t mind. I’ve got SGLI and a $100K policy on my wife as well. I’ve generally steered clear of life insurance. What’s your opinion on the topic? … [Read more...] about How Much Life Insurance Do You Need?
I've carried a military ID card since 1978. I'm financially independent. You would expect that I'd understand my benefits by now, but a few months ago I was nearly dis-enrolled from Tricare for not paying my premiums. To make matters even worse, I managed to thoroughly screw up our college daughter's Tricare benefits. I'll explain how this … [Read more...] about How To Get Kicked Out Of Tricare
It's that time of year again: Congress is debating the annual federal budget proposals. My e-mail and social media have exploded with outraged commentary on the proposals to overhaul the military retirement system and to get rid of Tricare Prime. How does that affect your retirement? How does that affect your family's healthcare?!? Well, it … [Read more...] about No More Military Retirement or Tricare Prime?!?
Question: I have a total of 5 tattoos that fall below my right elbow. My Commander determined that my tattoos are not in compliance with AR 670-1, 3-3c(2). I've been counseled, and I understand that I've been grandfathered (which I'm extremely grateful for). Prior to the release of the new policy, I was preparing to apply to Office Candidate … [Read more...] about Tricare or MTF: Will The Army Pay For Tattoo Removal?
Is the Army Air Force Mutual Aid Association (AAFMAA), Career Assistance Program Loan (CAP) worth it? I’m going to have to say YES! Back in the day as a young Staff Sergeant I needed some extra cash during a tough financial period. I was introduced to AAFMAA by a fellow Soldier. He informed me that AAFMAA offered an extremely low-interest-rate … [Read more...] about Career Assistance Program – AAFMAA Offers $4000 Loan
The two biggest obstacles to financial independence are inflation and healthcare -- yet military veterans and retirees seem to have more options for dealing with inflation. The Patient Protection and Affordable Care Act gives the American medical system a strong incentive to reduce expenses. The military Tricare system is also struggling to … [Read more...] about Medical Tourism at Bangkok’s Bumrungrad Hospital
Members of the Military are charged not only with protecting their country, but their families as well. A life insurance policy helps do this by providing financial stability in case of an unforeseen tragedy. However, military life insurance policies are much different from civilian policies. Civilian life insurance policies typically do not cover … [Read more...] about Insuring A Soldier: Life Insurance For Military Members
A reader writes: My ex-spouse has in the divorce decree that they're the sole beneficiary from my VGLI. Do you know if I can get another policy under the VGLI for my new family? The answer is complicated because there are so many limits on how much VGLI coverage you can have and when you can buy it. Please keep in mind that I'm not an insurance … [Read more...] about Reader Question On Veterans Group Life Insurance