Military life insurance - how much?

When I was in the USAF in 1959-60, the standard Servicemen's Group Life Insurance (SGLI) was $10,000, and everybody got it. The standing joke about whether to get the life insurance or not was settled by the sergeant's comment: "Who do you think they send to the front lines first - the guys with the life insurance or the guy's without?"

Today, it's a different story. Death benefit amounts are much greater, and premiums are lower.

What is the death benefit for a member of the military?

According to a military webpage on military.com, "A payment of $100,000 for survivors of those whose deaths under the following conditions: A member of an armed force under his jurisdiction who dies while on active duty or while performing authorized travel to or from active duty; ..." http://www.military.com/benefits/survivor-benefits/death-gratuity

Information on a page from the VA's website indicates that an active duty member of the military can enroll for up to $400,000 in death benefits, and his monthly cost for that maximum amount would be $27.00. Is there anyone who wouldn't sign up for that?

The key question for the member of the military or the reserve is, How do I get the life insurance, what does it cost, and when would my family receive it? Members of the military or families should contact their unit's Casualty Assistance Officer for information and help.

Privately-owned life insurance will pay for a death in a hostile military action, unless the policy contains a war exclusion. Back in the 1960s (and at other times) policies were sold with such a war exclusion.

This is perhaps one of the reasons to buy life insurance on children when they are young, when such an exclusion would not be in a policy. It's also a good idea to purchase a rider that allows the insured to purchase additional insurance at certain times in the future, regardless of insurability (including health, aviation risk, military service), for a small extra premium.