Posted on Jun 12, 2015
SGT Writer
9.47K
5
6
3
3
0
Avatar feed
Responses: 5
CAPT Kevin B.
2
2
0
VGLI and SGLI basic coverages are a good deal. However the SGLI additional coverages you can get after retirement are not as cost effective. The financial houses that manage your 401 (need to get away from TSP when you're 59 1/2) have very good policies that become part of your income stream. For instance you can start washing some of your 401 into insurance that you'll plan to cash in. My sweet spot happens to be 68. That way you pay far less in tax, just on your outlay for the premium each year. Then when you cash in say $300 grand, there is no tax on it.

I think the overall question is how to make your money work best for you, insurance included.
(2)
Comment
(0)
Avatar small
SFC Clifford Brewer
0
0
0
I have seen one unless you or under age 65..I don’t understand why the writers post bs about military insurance is for all vets and it’s only geared to age 65 and under..I think the military and whoever else got there sticky hand and pen put this insurance plan together should go back and rewrite or make some adjustment where 65 and older can benefit from the plan (if) it for all vets..
And about TSP..polices SUCKS in reference to age and the amount one can have in TSP account., TSP is not doing any extra favor except making IRS fat if one withdrawals from there account and I haven’t read the reason why but TSP has a healthy penalty if one missed withdrawal age.. and they advice one to join TSP and if one overlook there withdrawal period he or she pays
(0)
Comment
(0)
Avatar small
SSG Alan Wardell
0
0
0
you are able to convert your vgli and sgli into a whole life policy. at least at my company if you need more information contact me at new york life [login to see]
(0)
Comment
(0)
Avatar small

Join nearly 2 million former and current members of the US military, just like you.

close