What Does National Service Life Insurance Mean?
National service life insurance (NSLI) is a type of life insurance that was offered by the federal government but is no longer being issued. NSLI was specifically designed and offered to soldiers and other members of the United States Armed Services during World War II and up until 1951.
Insuranceopedia Explains National Service Life Insurance
Military personnel receive compensation for their service and eligibility for the national service life insurance program was one aspect of that compensation for active service members and veterans of the Second World War. The coverage was available to anyone serving in the Army, Navy, Marines, Coast Guard, and the Women’s Auxiliaries.
In addition to the death benefit paid out as part of the life insurance coverage, the NSLI also provides a disability benefit (when applicable) to policyholders who become disabled prior to turning 65.
Although the policies have not been issued in over six decades, there are still a number of veterans who remain NSLI policyholders.