Insuring A Soldier: Life Insurance For Military Members

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 deaths resulting from acts of war, acts of terrorism or military deployment, concepts which are obviously just part of the job description for a soldier.

It can be somewhat difficult for a standard policy provider to be convinced to insure a person whose daily routine includes gunfire, and so military life insurance is designed as a response to the occupational hazards of armed conflict. All active, reserve and veteran military members have exclusive access to at least one type of life insurance, and most policies are tailored to specific branches of the military to allow the policies to cover activities commonly associated with the agency.

There are three major government organizations that oversee military life insurance policies, the Veterans’ Association (VA), the Army and Air Force Mutual Aid Association (AAFMAA) and the Navy Mutual Aid Association (NMAA), which also covers other branches of the military such as the Coast Guard and Marine Corps. All of these organizations work to provide comprehensive life insurance coverage for service members at rates significantly less than those available to the public, which is fair because they certainly have more need of it.

Furthermore, each of these program administrators provide special benefits to their enrollees. AAFMAA and NMAA both offer coverage for the families of service members. VA-sponsored life insurance is guaranteed-issuance, which means it is given regardless of a soldier’s current health. There are also other special considerations, such as the Long Term Care contingency, which allows holders of a policy to use a portion of their death benefit to cover their costs at a care facility. Finally, government-issued military health insurance have much higher coverage caps than many standard policies, with limits in some programs set at $1 million.

Civilian insurance companies evaluate potential policyholders to assess their risk of a payout due to factors such as age, lifestyle and occupation. Due to the realities of the undertaking, military service is ineligible for most of this standard coverage, and so the government helps their bravest citizens ensure the financial stability of their loved ones with comprehensive and relatively affordable insurance policies. With these policies in place, the government sends a clear message to those who defend it: if you dedicate your life to the service of your country, you deserve to have it insured.