Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

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Benjamin Carr was a licensed insurance agent in Georgia and has two years' experience in life, health, property and casualty coverage. He has worked with State Farm and other risk management firms. He is also a strategic writer and editor with a background in branding, marketing, and quality assurance. He has been in military newsrooms — literally on the frontline of journalism.

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Reviewed by Benji Carr
Former Licensed Life Insurance Agent

UPDATED: Nov 18, 2021

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The Facts of Life

  • Private companies offer lower rates than military-provided coverage
  • Veterans’ life insurance has a maximum value of $400,000
  • Private life insurance companies can provide additional coverage

The government provides term life insurance to current and former military service members.

However, military coverage is limited, so you might need to buy from a private insurance company to protect your family. Learning more about life insurance companies that focus on the military will help you find the best plan.

Before learning about life insurance companies that focus on the military, enter your ZIP code to find free life insurance rates in your area.

What are some life insurance companies that focus on the military?

The military provides coverage to current service members through Servicemembers’ Group Life Insurance (SGLI). Veterans can obtain military life insurance after retirement through Veterans’ Group Life Insurance (VGLI).

However, these programs come with minimal coverage and small increases over time.

SGLI and VGLI plans are only available as term life insurance and have a maximum value of $400,000. While this might be enough for some, others will be looking for more coverage to support their families after they’re gone.

To obtain the coverage needed to protect your family, you might need to buy from private life insurance companies that focus on the military.

But these companies use your hobbies and occupation to determine risk, and serving in the military is considered a dangerous profession.

You’ll find some life insurance companies that don’t focus on the military, but many offer plans specifically for service members and veterans.

Your family can use military life insurance death benefits to pay off debt, college tuition, or anything else they might need after you’ve passed.

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What are the monthly rates from life insurance companies that focus on the military?

Before you trade your government-issued policy for a private company, you’ll want to find the cheapest life insurance companies’ rates that focus on the military.

The following chart shows the average monthly rates for a $400,000, 20-year term life policy based on age.

Average Monthly Rates from Life Insurance Companies That Focus on the Military: Male $400,000 20-Year Private Term Life and VGLI Term Life Policies
AgeAverage Monthly VGLI Term Life RatesAverage Monthly Private Term Life Rates
30$40$25.58
40$68$45.92
50$144$113.58
60$432$290.92
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As you can see, affordable life insurance companies that focus on the military are cheaper than a VGLI plan.

How do you choose the right coverage from life insurance companies that focus on the military?

The first step in deciding whether to use military-provided insurance or buy from the best life insurance companies is to determine if your current coverage is enough.

Government-sponsored life insurance for military families is enough for some, but others might need more coverage.

Military life insurance typically covers children, spouses, and sometimes grandchildren. As with private companies, suicide is a common exclusion.

However, you can obtain life insurance for veterans with PTSD through the government and some private companies.

The next step is to determine how much coverage you need.

The Insurance Information Institute provides tips on how to determine the amount of coverage you should purchase.

If you determine that the maximum $400,000 coverage is not enough for your family following your death, you’ll need to look for coverage from a private insurance company.

Comparing coverage and life insurance companies’ quotes that focus on the military will help you determine the best option.

Life Insurance Companies That Focus on the Military: The Bottom Line

The military provides life insurance to service members, but the maximum coverage is $400,000. Private life insurance allows you to support your family when you’re no longer around.

Knowing about life insurance companies that focus on the military will ensure you get the best coverage.

Now that you know about life insurance companies that focus on the military, enter your ZIP code to get free life insurance quotes in your area.