Should we get life insurance before my husband joins the military??

Question

Should we get life insurance before my husband joins the military. My new york life friend told me that it's better because we can get more money if we do it before he joins. My husband says that the military pays for everything and they have there own life insurance. Which is the best route to take?? I would like to just do the new york life thing now instead of wait, he is joining in January. I'm not sure if I like the USAA life insurance. New York Life is a place I know that is reliable. But this is something people don't talk about very much. So I need some help Thanks!! :)

Answer 1

I say do the one your comfortable with. If he wasn't in a risky position, then of course you would go with the easy one, but if your more comfortable in the other one, even if it might cost more, go with it. In the long run I'm sure you'll be happy you did. By the way, good luck in the military to him and best of wishes to you!

Answer 2

yes. my dad only recieved 300 dollars from the govt. for headstone thats not enough

Answer 3

Most insurance contracts do have an exclusion for any act of war.

How could your friend not tell you this?  Does this person have a life insurance license?   New York Life may be reliable but your friend is not.  

All agents know that life insurance policies exclude any act of war.  Read the contract before you buy it.   Or, contract your Dept of Insurance in your state or your State Insurance Commissioner.

Licensed Life Insurance Agent

Answer 4

northwesternmutuallife.com is the best

Answer 5

Your friend is wrong about "getting more money."  However, he can certainly buy life insurance if he wants.  Be aware that many commercial policies have "war exclusion" clauses.

Your husband, upon joining the military, will receive Serviceman's Group Life Insurance (SGLI).  That, however, is term insurance that expires once he leaves the service.  It can be converted to Veteran's Group Life Insurance (VGLI) at that time.

Answer 6

yes, definitely!

Answer 7

Most regular life insurance won't cover a person that gets killed in war.  If that is what you are wondering about, I would talk to the people about their war clause before you spend any money.  

Answer 8

It is usually a good idea to have insurance separate from work.  That being said, Serviceman's Group is some of the best coverage anyone can get.  Bar none.

If he has not signed the papers yet, do not mention it to the agent.  It could cause rates to go up.  Some companies do rate those in the military and public service (cops, firefighters, etc).

USAA is a good stable company like New York Life.

Since military is a concern, ask about the war clause.  If the company has one, get away from them.  What the war clause is, if he (or you) die due to an incident related to war, they will not pay.

Talk with a local financial analyst/adviser/coach in your area to determine how much you need.  Once you get that, use the Serviceman's Group Life to add to it.  You may end up with double the coverage, but it still may not be enough.

A good reason for having one outside of the SGLI is that when he leaves the military, if he happens to contract something that would cause him to not be insurable, you already have the policy in place.

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Although most have the war clause, not all do.  For example, Primerica does not have a war clause (and the older policies that do have it, tend to have that waived).  They also do not rate you based on military/public safety alone.

Serviceman's Group is the best anyone in the military can get.  Second to none.

Answer 9

The military provides full insurance opportunities that will probably be superior to those your friend is offering.  Never buy insurance from somebody who tells you about it.  They are making money and that is a conflict of interest.  If you want extra insurance, feel free, but do not buy from your friend.  Instead, let him fill you in on how the market works.  If he's a real friend, he won't mind helping you out.

Answer 10

yes he should get some before cause work in the miltary is very damage and know tell what would happen these day but every thing in god hand .

Answer 11

Hello dear Madam,  I am from india and that too from Life insurance of India.  As per indian life insurance system i would advise u to go for life insurance only after joining the army why because u can go for higher amount and that too without medical examination much.

Because for army personal there are spl forms and special concessions given  So, daringly u can go for higher amount without much of hussiles so go for it after he joins army.  You can think of going for joint life policy which will be more better.  If u want my help i can also guide u hence i am from life insurance.  with blessings.  May God bless u all.   b.radha.

Answer 12

yes buy the one before you get in and then do the one for the military. it takes about 4 weeks to 6 at least to get the insurance if he dies and this is best and fast if you use someone else but its cheap so you have ot have both.

Answer 13

get a term plan for 100000 or so for each of you ..pretty cheap///don't get whole life....