NOTE that increased coverage is MANDATORY unless declined. Ensure this information receives widest possible dissemination.

Servicemembers' Group Life Insurance (SGLI) Coverage Increase

How Much Will SGLI Increase By?
The maximum level of Servicemembers' Group Life Insurance coverage will be increased from $250,000 to $400,000 on 1 September 2005 .

Who Will Be Affected?
May 3, 2006 9:56ir coverage increased to $400,000, even if the officer previously declined or elected lesser coverage. If the officer still desires no coverage or less than the maximum, they will have to complete a new SGLI Election and Certificate (SGLV Form 8286) and submit it to the NOAA Corps Payroll Unit. Elections to reduce or decline the new maximum coverage cannot be made before 1 September.

What Coverage Amounts Will Be Available?
Servicemembers can elect coverage in increments of $50,000. Previously, members could elect coverage in increments of $10,000.

How Much Will The Additional Coverage Cost?
The premium rates for SGLI coverage will remain the same. Currently, the rate is 6.5 cents per $1,000 per month, or $16.25 per month for $250,000. July 15, 2005 14:30 coverage, they will pay $26.00 per month for the new maximum coverage of $400,000. The following premiums apply at each coverage level: