Insurance Question

[Berta]

Frank is having a problem with life insurance he paid for-

SGLI?

When I met Rod he was paying for SGLI -I think it was called and he had a little coupon book to send with the monthly payments-I think my daughter pays this too-

and then after what was about 20 years after service he was sent information that he would have to convert to private insurer for life insurance and he did.

He was only 30 % disabled at that time and the VA had no SC life insurance program.

It seemed at the time this was normal SOP-and he expected that he would have to convert-

Has anyone else gone through this?

A friend of mine -20 years USAF- paid a similiar type policy every month but after his technical ten year reserve status was up he got a conversion notice too- and I tied him up with the same insurance man Rod used for continuing the life insurance but through a private company.

I found out recently that he thinks his son will get 200,000 when he dies ??? NSC vet retired.

(He served 1972-1992) and yet he has never paid any additional policy and cant remember if he ever did call my insurance man and actually convert it-( he would be paying a monthly premium if he did)but he still is of the belief that there is 200,000 from the gov for his son if he dies?????

Question -has anyone else been asked to convert this type of insurance they got as veterans-

wasn't there an insurance scam some time ago over policies that vets thought had a dividend payment they never got?

Life insurance with a dividend payment costs a heck of a lot more then regular life or term life-I know that personally-it is called whole life insurance and has many benefits but is very costly.

I dont think SGHLI provides whole life policies-

any thoughts or advice?

Here is the info on the SGLI insurance scam:

http://www.uscg.mil/Legal/la/topics/consum...scamarticle.htm

I sure hope this is not what happened to Frank.

Edited June 10, 2006 by Berta

[Moe]

Frank is having a problem with life insurance he paid for-

SGLI?

When I met Rod he was paying for SGLI -I think it was called and he had a little coupon book to send with the monthly payments-I think my daughter pays this too-

and then after what was about 20 years after service he was sent information that he would have to convert to private insurer for life insurance and he did.

He was only 30 % disabled at that time and the VA had no SC life insurance program.

It seemed at the time this was normal SOP-and he expected that he would have to convert-

Has anyone else gone through this?

A friend of mine -20 years USAF- paid a similiar type policy every month but after his technical ten year reserve status was up he got a conversion notice too- and I tied him up with the same insurance man Rod used for continuing the life insurance but through a private company.

I found out recently that he thinks his son will get 200,000 when he dies ??? NSC vet retired.

(He served 1972-1992) and yet he has never paid any additional policy and cant remember if he ever did call my insurance man and actually convert it-( he would be paying a monthly premium if he did)but he still is of the belief that there is 200,000 from the gov for his son if he dies?????

Question -has anyone else been asked to convert this type of insurance they got as veterans-

wasn't there an insurance scam some time ago over policies that vets thought had a dividend payment they never got?

Life insurance with a dividend payment costs a heck of a lot more then regular life or term life-I know that personally-it is called whole life insurance and has many benefits but is very costly.

I dont think SGHLI provides whole life policies-

any thoughts or advice?

Here is the info on the SGLI insurance scam:

http://www.uscg.mil/Legal/la/topics/consum...scamarticle.htm

I sure hope this is not what happened to Frank.

Berta, as I recall SGLI is active duty insurance with premiums payed by gov. After service it can be converted to VGLI with premiums payed by the insured.

If the son is still active there will be a payout to the beneficiaries. If he is out and not making premiums no insurance.

I retired 24 years ago so I'm basing what I said on memory. I'm pretty sure it is correct.

[Guest frank]

breat

Frank is having a problem with life insurance he paid for-

SGLI?

When I met Rod he was paying for SGLI -I think it was called and he had a little coupon book to send with the monthly payments-I think my daughter pays this too-

and then after what was about 20 years after service he was sent information that he would have to convert to private insurer for life insurance and he did.

He was only 30 % disabled at that time and the VA had no SC life insurance program.

It seemed at the time this was normal SOP-and he expected that he would have to convert-

Has anyone else gone through this?

A friend of mine -20 years USAF- paid a similiar type policy every month but after his technical ten year reserve status was up he got a conversion notice too- and I tied him up with the same insurance man Rod used for continuing the life insurance but through a private company.

I found out recently that he thinks his son will get 200,000 when he dies ??? NSC vet retired.

(He served 1972-1992) and yet he has never paid any additional policy and cant remember if he ever did call my insurance man and actually convert it-( he would be paying a monthly premium if he did)but he still is of the belief that there is 200,000 from the gov for his son if he dies?????

Question -has anyone else been asked to convert this type of insurance they got as veterans-

wasn't there an insurance scam some time ago over policies that vets thought had a dividend payment they never got?

Life insurance with a dividend payment costs a heck of a lot more then regular life or term life-I know that personally-it is called whole life insurance and has many benefits but is very costly.

I dont think SGHLI provides whole life policies-

any thoughts or advice?

Here is the info on the SGLI insurance scam:

http://www.uscg.mil/Legal/la/topics/consum...scamarticle.htm

I sure hope this is not what happened to Frank.

breta, thank you so much please read my new topic i started today, it gives insite of a problem i havetopis insurance problems thank you frank

[Guest frank]

THANK YOU BRETA,MOE PLEASE READ MY NEW TOPIC I POSTED TODAY, IT GIVES YOU FULL DETAILS OF WHAT I FACE TOPIC IS INSURANCE PROBLEMS THANK YOU

[Guest frank]

Frank is having a problem with life insurance he paid for-

SGLI?

When I met Rod he was paying for SGLI -I think it was called and he had a little coupon book to send with the monthly payments-I think my daughter pays this too-

and then after what was about 20 years after service he was sent information that he would have to convert to private insurer for life insurance and he did.

He was only 30 % disabled at that time and the VA had no SC life insurance program.

It seemed at the time this was normal SOP-and he expected that he would have to convert-

Has anyone else gone through this?

A friend of mine -20 years USAF- paid a similiar type policy every month but after his technical ten year reserve status was up he got a conversion notice too- and I tied him up with the same insurance man Rod used for continuing the life insurance but through a private company.

I found out recently that he thinks his son will get 200,000 when he dies ??? NSC vet retired.

(He served 1972-1992) and yet he has never paid any additional policy and cant remember if he ever did call my insurance man and actually convert it-( he would be paying a monthly premium if he did)but he still is of the belief that there is 200,000 from the gov for his son if he dies?????

Question -has anyone else been asked to convert this type of insurance they got as veterans-

wasn't there an insurance scam some time ago over policies that vets thought had a dividend payment they never got?

Life insurance with a dividend payment costs a heck of a lot more then regular life or term life-I know that personally-it is called whole life insurance and has many benefits but is very costly.

I dont think SGHLI provides whole life policies-

any thoughts or advice?

Here is the info on the SGLI insurance scam:

http://www.uscg.mil/Legal/la/topics/consum...scamarticle.htm

I sure hope this is not what happened to Frank.

BRETA, FOUND INFORMATION, ON MY POLICY DATED 1994, POLICY IS NSLI, THIS IS THE ONE I WAS LOOKING FOR SOMEONE CHANGED IT TO A FR IN 05 THIS LETTER ABOUT INSURANCE IS DATED 1994,IT IS IN MY SS NUMBER DID NOT FIND THIS OUT UNTIL 2002, WHEN I GOT THE FILES FROM VA

[Berta]

OK- now I get it-

You had National Servicemens Life Insurance- NSLI-

This link at mil.com explains that policy-

http://www.military.com/Resources/Resource...4,31369,00.html

This link should tell you all you need to know on this type of policy-

[Guest frank]

OK- now I get it-

You had National Servicemens Life Insurance- NSLI-

This link at mil.com explains that policy-

http://www.military.com/Resources/Resource...4,31369,00.html

This link should tell you all you need to know on this type of policy-

THANK YOU BRETA, I DID HAVE A NSLI, UP, TO TWO YEARS AGO WHEN, SOMEONC CHANGED IT NOW I ONLY HAVE RH I AM GOING TO BOOKMARK, THE INS LINK, BUT I NEED TO POST A NEW TOPIC THIS IS SOME STORY,EVERYBODY,WILL BE SHOCKED,