Hey, Airman ... you're worth more dead than alive

Yes, it's true, you're now worth more dead than alive.

The Air Force has decided to let Airmen increase their Servicemember's Group Life Insurance up to $400,000.

According to Air Force Personnel Center officials, beginning Sept. 1, 2005, Airmen will be automatically covered for the maximum of $400K. Those who elect to decline or reduce their coverage must fill out an SGLV Form 8286, which they will then drop off at their local Military Personnel Flight Customer Service office.

Coverage can be reduce by increments of $50,000.

Airmen who complete and turn in the form between Sept. 1 and Sept. 30 will not be charged the full amount for September, but will be charged for whatever coverage they elect at the rate of $3.50 per $50K insured.

Any changes made after Sept. 30 will cause Airmen to be charged the full amount for whatever months they were covered. For example, an Airman who elects coverage of $300,000, but does not turn in their form until Oct. 15, would be charged the full amount ($26) for both September and October and would be charged $19.50 for November.

Airmen who do not want to reduce their coverage and don't plan to change their beneficiaries won't need to fill out any forms; your new $400K coverage will start Sept. 1.

Here's another important change: Airmen who designate a beneficiary other than their spouse should be prepared for spousal reproductions ... apparently, the Air Force plans to send your spouse a letter letting him or her know they are not your primary beneficiary. Tattletales!

The revised SGLV Form 8286 (dated September 2005) will be available on the DVA Website (www.insurance.va.gov) beginning Sept. 1, 2005.

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