Life Insurance for Military Personnel as a means to assist you with these eorts. e

guide provides purchasing tips, contact information, and frequently asked questions

about life insurance. e guide also includes warning signs regarding deceptive and

fraudulent sales practices.

Please be aware that this guide is not intended to provide legal advice regarding

coverage under any specic policy. You should determine the types of coverage you

want to purchase, then review your policy upon receipt to be sure it provides you

with the types and amounts of coverage you intend to obtain. Never hesitate to

talk to your military base solicitation ocer or to contact the Maryland Insurance

Administration if you have questions. ank you for your brave and courageous

you the contact information for the state that can help with your problem.

We provide assistance to consumers, businesses, health care providers (doctors,

hospitals), and producers (agent or broker) in all areas of insurance, including life,

health, disability, automobile, homeowners, and property.

2

e MIA is here to protect your consumer rights. If you feel that:

• the terms of any policy you receive are not what you agreed upon;

• you have purchased additional unnecessary insurance;

• you have been charged for a policy that you did not authorize;

please contact us at:

410-468-2000

e MIA produces consumer guides, rate comparisons and frequently asked

questions related to various types of insurance. e following is a sample list of

available publications:

• And more . . .

You can access this information in several ways:

• Download it from our website, www.insurance.maryland.gov, on the

• Do I need it?

• How much do I need?

• Is the policy suitable for my needs?

• What types of life insurance are available?

• Where do I purchase it?

• Are there red ags that may indicate a problem?

• Where can I learn more?

(with satisfactory evidence of insurability for increases) and vary the

amount or timing of premium payments.

• Variable Life policies permit the premiums to be invested in mutual

funds available in the insurance contract. Although there is a minimum

guaranteed death benet as long as the premiums are paid, investment

risk is born by the policy owner. e value of the policy depends on the

performance of the mutual funds, and therefore, may increase or decrease.

• Whole Life policies provide lifetime protection at a level premium.

Premiums generally must be paid for as long as the policy is in force.

4

SGLI is a group term life insurance automatically available to all servicemembers on

active duty, active duty for training or inactive duty for training and to members of

for spouses. When released from active duty or the Reserves, members with

full-time SGLI coverage can convert their coverage to Veterans Group Life

(VGLI) or to an individual commercial life insurance policy with any one of 71

participating commercial insurance companies. For more information, call toll-free

800-419-1473.

It is important to review your policy immediately upon receipt. e benets

contained in a policy that you purchase in one state may be dierent from the

benets you purchase in another state, even if the policy is written by the same

company.

• Do I need more life insurance?

• Are there any war exclusions to the policy? (SGLI does not contain this

• Am I feeling pressured to buy this policy?

• Are there any exclusions or limitations on coverage for death related to

military service or residence outside of the United States?

• Are there any exclusions on the policy for travel on any non-commercial

aircraft?

• Make certain that you fully understand the implications before you

purchase the life insurance products that are sold as or with savings or

investment products.

• Agents selling on the base without authorization from your base

investment advisors in a group or classroom setting. Again, check with

your base solicitations ocer or the Department of Defense to see if they

are authorized.

• Pressure to rush through the application process, to complete an allotment

form or to give a voided check for the purchase of a life insurance policy.

Take your time before making a decision to purchase the policy.