In most cases, families rely military individuals for insurance, but sometimes they are ready to retire. When one decides to retire from the military, this means leaving the Servicemembers’ Group Life Insurance (SGLI). Consequently, finding your own retired military life insurance plan can be difficult. Having the resources to find the perfect insurance for you and your family after you retire is the first step to being secure.Related read: How to Get Free Tax Prep For Military Personnel

Retired Military Life Insurance: What You Need to Know

When serving for the military, you were able to concentrate on the mission, knowing that your family will be covered if something awful happens. You are now ready to leave the military, now what? Having a plan set up before leaving could be beneficial. Leaving the military can be difficult, especially when worrying about life insurance. After active duty ends you approximately have 120 days until SGLI coverage expires. Don’t worry! There are retired military life insurances out there that will be a great fit for you and your family. Life insurance for military personnel gives families great benefits, but there are other options that will meet your needs other than military life insurance.Suggested read: Brain Cancer Symptoms May Develop in Vets Who Suffer From TBI

Top Life Insurance Options for Military Retirees

Here are some of the best life insurance for military retirees:

• USBA’s 20 Year Group Level Term Life Insurance Policy
• • • Offers premiums designed to remain level for the next 20 years.
    • $100,000 of coverage starting at $7.33 per month.
    • Coverage available: $25,000 to $500,000
    • Coverage ages: 18-54
• Veterans’ Group Life Insurance (VGLI)
• • • You can get between $10,000 and $500,00 in term life insurance benefits, depending on how much SGLI coverage you had when you left the military.
    • Provides death benefits only. There is no cash value that builds over time.
    • Usually the most affordable life insurance to buy.
• Veteran Affairs Life Insurance (VALife)
• • Up to $40,000 in whole life insurance coverage.
  • Cash value that starts to add up 2 years after they approve your application.
  • Different monthly premium rates depending on your age.

Hopefully these details about insurances will help you get started in your search.

Life Insurance Coverage for Military Spouses

When you are part of the military, you and your spouse are automatically on life insurance. Unfortunately, that changes when you decide you want to retire. There are only a limited number of life insurance policies that will cover you and your spouse.Don’t worry though here is one life term insurance policy providing coverage. Family Servicemembers’ Group Life Insurance (FSGLI) provides term life insurance coverage to the spouses and dependents of Children of Servicemembers’ that is under Service Group Life Insurance (SGLI). Both SGLI and FSGLI help you make sure that you will get a death benefit to help with living and other expenses. What if FSGLI isn’t enough? You might want to consider private insurance.

The Next Steps to Feel Secure

Making sure you have a support group around you can make this process easier. Additionally, doing your research before you think about retiring can be a big help as well. There are many options out there to have you and your loved ones feeling supported and protected.Read next: 5 Tips and Tricks to Help You Break More Clay Targets