United States Government Life Insurance
What Does United States Government Life Insurance 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
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.