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This Web site contains a compilation of more than a thousand consumer finance  columns written by Tony Novak from the 1980s through 2006, updated and reformatted for maximum usefulness today.  New material was added after 2010.

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Military life insurance

originally posted: 11/22/2006  reposted: 2/18/2011 This post has not been recently reviewed or revised by the author and may be out of date. If you notice an error or are in doubt, please send a new question by email or ask for an update. Email

Q: I’m active duty military. I’m planning some official travel to the Middle East (not Iraq). I want to bump up my insurance value a bit for this travel and perhaps longer. I have about $750K in total insurance for a family of 6 and would like to bump it up by $250K. Would your product fit the bill? Specifically, would insurance cover me on a military trip?

A: Yes, all insurance policies issued in the U.S. (not just life insurance but homeowner's, health, auto, disability, etc.) cover military members and military trips but at the same time almost all policies exclude coverage for acts of war. So this leaves an obvious risk for a military member during war time. The Globe life product you mentioned is inexpensive and issued immediately online, but does not cover acts of war. The Servicemember’s Group Life Insurance (SGLI) and Veterans Group Life Insurance (VGLI) policies do not have this type of exclusion but they cost more, may have medical exam requirements, and cannot be issued directly online.


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