SGLI
Veterans Group Life Insurance (VGLI)
Advantages
- Guaranteed Issue (no health exam if taken within 240 days of retirement/separation)
- Never expires
Disadvantages
- Death Benefit limited to $500,000
- Premium cost increases every 5 years
- Only convertible without additional medical underwriting to Whole Life permanent insurance at “Standard” rates
Penn Mutual Life Insurance
Advantages
- Death Benefit amounts not limited to $500,0001
- Level premiums available for up to 30 years1
- Convertible to any Penn Mutual permanent insurance product (Whole Life, Universal Life, Indexed Universal Life & Variable Universal Life) at equivalent or better attained term insurance underwriting rates and up to full existing Death Benefit amount without additional medical underwriting1,2
Disadvantages
- Qualification is not guaranteed
If you want private insurance, make an appointment today so we can search the market for the best option for you and your family!
The cost and availability of life insurance depend on factors such as age, health, and the type and amount of insurance purchased. Before implementing a strategy involving life insurance, it would be prudent to make sure you are insurable. As with most financial decisions, there are expenses associated with the purchase of life insurance. Policies commonly have mortality and expense charges; if a policy is surrendered prematurely, there may be surrender charges and income tax implications. You should consult a qualified tax professional for tax advice on your own personal situation. All guarantees are based upon the claims-paying ability of the issuer.