Should retired military members in Nevada continue life insurance coverage?

Military retirees in Nevada face a common life insurance decision: whether to maintain coverage after retirement when SGLI ends and VGLI is available but increasingly expensive. The right answer depends on individual financial circumstances.

Retirees with military pensions, Social Security benefits, VA disability compensation, and adequate assets to support a surviving spouse without life insurance income replacement may need less coverage than during working years. However, those with mortgage debt, dependent family members, estate planning goals, or business interests benefit from continued coverage.

Permanent life insurance — whole life or universal life — can serve estate planning goals for retired military members who no longer need income replacement but want to leave a legacy, cover estate taxes, or equalize estate distribution among children. Cash value accumulation in permanent policies also provides a tax-advantaged asset.

Retirees enrolled in the Survivor Benefit Plan (SBP) should factor SBP annuity payments into their overall survivor income picture when determining additional life insurance needs. Agents in our network can help Nevada military retirees assess their current coverage and identify appropriate adjustments.