SGLI is a great start, but most Army families need more coverage. Here is how to supplement SGLI with private term or whole life insurance, which carriers give military discounts, and what coverage amount makes sense for your rank and family.
A common rule of thumb is 10-12x your annual gross income in total life insurance coverage. For an E5 earning $34,400/year, that means $344,000 to $413,000 in total coverage. With $500K SGLI, you may already be covered - but SGLI ends when you separate from service.
Consider private life insurance if you have: a mortgage, children, a spouse who depends on your income, or plans to leave active duty within 10 years.
| Feature | Term Life | Whole Life |
|---|---|---|
| Monthly Cost (30yo, $500K) | $25-40/mo | $300-500/mo |
| Coverage Period | 10, 20, 30 years | Lifetime |
| Cash Value | None | Yes (slow growth) |
| Best For | Most Army families | High-net-worth officers |
| Military Recommendation | Strongly preferred | Consider at E7+/O4+ |
Based on your rank and family status, here are the 3 carriers most likely to give you the best rate.
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