United States Government Life Insurance (USGLI)
Definition - What does United States Government Life Insurance (USGLI) mean?
United States Government Life Insurance (USGLI) is an insurance program set up in 1919 to manage the life insurance policies of U.S. veterans who rendered service in the military during WWI as well as all policies issued to service members up to 1951.The USGLI program aimed to provide administrative servicing to the then existing WW I insurance policies, which numbered 4 million, and those issued thereafter until April 25, 1951. The plans provide endowment and death benefits to every covered veteran to the extent of $10,000.
Insuranceopedia explains United States Government Life Insurance (USGLI)
In 1917, Congress approved the issuance of life insurance policies to war veterans and other service members who would otherwise not be able to obtain insurance coverage from private insurers due to their increased risks, an existing disability, or prohibitive premium rates. Of those issued, some 8,000 policies have remained active. All of these policies have been paid up since 1983 and provide annual dividend benefits to their respective holders.
How Well Do You Know Your Life Insurance?
The more you know about life insurance, the better prepared you are to find the best coverage for you.
Whether you're just starting to look into life insurance coverage or you've carried a policy for years, there's always something to learn.