Government Life Insurance
Updated: 29 February 2024
What Does Government Life Insurance Mean?
Government life insurance refers to the program created by the U.S. government in 1917 to provide insurance for soldiers who served during World War I. The government stopped issuing these policies in 1951, seven years after World War II.
Insuranceopedia Explains Government Life Insurance
In 1917, the US declared war against Germany, initiating the first world war. Private insurance companies deemed soldiers too high an insurance risk and, as a result, denied them coverage or charged them very high premiums. The government remedied this problem by offering life insurance to enlisted soldiers.
As of 1983, all premiums had already been paid, and as of 2010, there were still a number of surviving policyholders.
Related Definitions
Related Terms
Related Articles
10 Things You Need to Know About Health Insurance in the United States
Insurance Self-Service Portal: The Future of Customer Experience
Blockchain’s Impact on Transforming the Insurance Landscape
What Every College Student Should Know About Renters Insurance
Guidance for Nurses: Five Essential HIPAA Compliance Tips
Insuring Your Financial Future: the Crucial Role of Accounting in Insurance
Related Reading
What Is Temporary Life Insurance?
Revealing the Most And Least Popular U.S. Insurance Companies
Texas is the state with most people killed by animals in the US
Life Insurance Statistics
How Long Do You Have To Have Life Insurance Before You Die?
Life Insurance Statistics