Life Insurance for Military Spouses (Discounts & Rates)

Looking for a good deal on life insurance for military spouses? The Department of Veteran’s Affairs provides military spouse benefits of up to $100,000. You can also convert this life insurance policy when the family leaves the military. However, most families need more life insurance coverage than this. Learn more.

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D. Gilson is a writer and author of essays, poetry, and scholarship that explore the relationship between popular culture, literature, sexuality, and memoir. His latest book is Jesus Freak, with Will Stockton, part of Bloomsbury’s 33 1/3 Series. His other books include I Will Say This Exactly One Time and Crush. His first chapbook, Catch & Release, won the 2012 Robin Becker Prize from Seve...

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Leslie Kasperowicz holds a BA in Social Sciences from the University of Winnipeg. She spent several years as a Farmers Insurance CSR, gaining a solid understanding of insurance products including home, life, auto, and commercial and working directly with insurance customers to understand their needs. She has since used that knowledge in her more than ten years as a writer, largely in the insuranc...

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Reviewed by Leslie Kasperowicz
Farmers CSR for 4 Years

UPDATED: Apr 22, 2021

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The Highlights

  • The government provides limited life insurance for military spouses that doesn’t cover most family’s needs.
  • Military spouse life insurance under the FSGLI covers up to $100,000 at a rate between $0.45 to $45.
  • Spousal FSGLI coverage can be converted before the expiration date of 120 days after the service member leaves the military.

You’re used to focusing on PCS moves, deployments, family, and career growth more than getting life insurance for military spouses. It’s critical to plan for the future, whether you’re just starting your journey as a military spouse or are seasoned in this unique lifestyle.

Life insurance is one of the essential elements in your family’s financial security plan and can be one of the most important investments you’ll make.

Seeking out a comprehensive policy for yourself is just as important as for the active duty spouse.
Thankfully, service members are already automatically enrolled to buy military life insurance coverage through the Servicemembers’ Group Life Insurance (SGLI) program.

At the same time, the civilian-military spouse benefits from the dependent version of this program, known as the Family Servicemembers’ Group Life Insurance (FSGLI).

But the military spouse life insurance coverage is limited up to $100,000 at a rate based on the spouse’s age. Not to mention, the coverage expires after the family leaves the military.

This doesn’t cover most family’s needs. Experts encourage individuals to get life insurance that is 10 to 15 times their income.

Compare rates from top military spouse life insurance companies to save. Enter your ZIP code today for your affordable military spouse life insurance options.

What’s the best life insurance for military spouses?

Your age, income, health history, and other personal circumstances contribute to determining the best life insurance policy for military spouses. However, your options differ from the life insurance for married couples.

You may be eligible for FSGLI if you’re the spouse of a service member who meets one of these requirements. If they’re:

  • On active duty and covered by full-time SGLI, or
  • Member of the National Guard or Ready Reserve covered by full-time SGLI

Even though most military spouses are eligible for FSGLI coverage, it’s a limited plan that may not provide the best solution for all military spouses and their dependents.

The FSGLI does not automatically enroll a uniformed service member that married another uniformed service member. These couples must apply for FSGLI.

The FSGLI does automatically add civilian spouses and children. Members may decline coverage or choose a lower coverage amount, but FSGLI coverage cannot be greater than the SGLI coverage.

FSGLI provides a term life insurance benefit of up to $100,000 for a member’s spouse and $10,000 for dependent children.

Members pay a monthly rate from their pay for spousal coverage based on the age of the spouse. Military spouse benefits are issued in increments of $10,000, at a monthly rate ranging from $0.45 to $45 based on the age of the spouse.

With military spouse life insurance rates and coverage like this, it’s important to compare your options. A different insurance company may be a better investment.

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How do I convert the military spouse benefits from FSGLI into an individual insurance policy?

You may convert spousal FSGLI coverage to a permanent, individual life insurance policy within 120 days from the date of your service member’s:

  • Separation from the military
  • Divorce from you
  • Written election to end spousal FSGLI coverage
  • Written election to end SGLI coverage
  • Death

In any of these preceding events, the military spouse becomes solely responsible for all aspects of the policy including payments.

You can’t convert other types of policies, including term, variable, or universal life insurance. Supplementary policy benefits aren’t considered part of the conversion policy.

Follow these steps to complete the conversion process.

  • Choose a life insurance company from a list provided by the Department of Veteran’s Affairs of available companies that take part in this program.
  • Apply at the local sales office of the company of choice.
  • Give copies of the most recent Leave and Earnings Statement (LES) to the agent along with proof of coverage with one of these documents.
  • The service member’s separation document (Form DD214 or NGB-22, or written orders), or
  • The Certificate of Dissolution of Marriage between the spouse and the service member, or
  • The service member’s FSGLI spousal delineation, or
  • The service member’s SGLI declination, or
  • The service member’s proof of death (DD1300: Report of Casualty, or a civilian death certificate).

Even if you choose to convert the FSGLI coverage later, knowing your options helps you make informed decisions about your future.

Find out what military spouse life insurance quotes are available to you when you enter your ZIP code.

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