Term Life Insurance for Servicemen and Servicewomen

There are a variety of different bills that work like term life insurance that would ensure the surviving members of those who are serving our country are completely taken care of financially if someone should happen to pass away. However, despite having these bills in place it is still a good idea to take out a separate term life insurance policy in order to ensure that the payment amounts will be sufficient. Some of these benefits only cover personal needs and household goods and some funds are only available for cases of hardship. Each of the bills depends on a different set of criteria, and many families will not actually benefit from them. To protect your family the right way, checking out term life insurance prices is a necessary evil because it will keep your family safe and will supplement whatever military benefits are received.

Service Member’s Group Life Insurance

Each and every military policy is very different, and SGLI or Service member’s group life insurance policies tend to be quite common in nature but many of these policies only have around $400,000 in coverage, leaving the possibility that your family may come up short in the even if your death. The average military family income is sometimes not enough to cover even the most basic bills. Therefore, it is important to consider the option of term life insurance as a cost-effective means of creating a financially secure future for your loved ones.

Red Flags and Deceptive Sales Practices

You have probably heard of the elderly being a commonly targeted group for fraud. This is also true when it comes to military personnel, who are regularly targeted for deception. This is primarily because many who serve our country do not question the services that they are offered. Below are some deceptive sales practices that you should be aware of if you want to protect yourself from fraud:

– Any solicitation of insurance policies that are meant to act as investment or savings products

– Non-military personnel posing as a financial counselor or an advisor on veteran’s benefits

– Non-military or former military personnel acting as an investment advisor

– Pressure to rush through the process of application, to complete an allotment form or to authorize the withdrawal of your bank account funds in order to purchase a life insurance policy

– Agents who sell insurance on a military base without acquiring the proper authorization. When it doubt, it is always a good idea to check out the credentials of the insurance agent

– Agents who sell insurance without being able to provide a valid license issued by a state insurance department

– Any time delay at all in receiving a copy of the life insurance contract

If you feel or see any of these red flags go up, you should avoid the situation as quickly as you can. If your family is considering purchasing a separate term life insurance policy, then you should visit an accredited term life insurance company to get the job done. Go with an “A” rated carrier, and you will not be let down. Your best bet is to search until you find a broker that is reputable and that can advise you properly without trying to rip you off or defraud you in any way.