Marcus

Marcus retired from Active Duty 6 years ago. Marcus and his spouse have two children, ages 10 and 8. Marcus 

wants to enroll in SBP spouse coverage or spouse and child coverage at a base amount of $3000. This would 

provide a $1,650 monthly SBP payment to his spouse or $825 each to his two children (if his spouse is not 

eligible and the children are eligible). 

 Marcus’ Buy-In Premium to enroll in Spouse Coverage during the SBP Open Season is: $13,720.20

 Marcus’ Buy-In Premium to enroll in Spouse and Child Coverage during the SBP Open Season is: $13,794.04

Base amount = $3000; Spouse Coverage or Spouse and Child Coverage; Retired 6 years; Youngest child age 8

Ben

Ben retired from Active Duty 12 years ago. Ben wants to enroll in SBP spouse coverage during the SBP Open 

Season at a base amount of $1000. This would provide a $550 monthly SBP payment to his spouse. 

 Ben’s Buy-In Premium to enroll in Spouse Coverage during the SBP Open Season is: $9,804.60

Base amount = $1000; Spouse Coverage; Retired 12 years 

What You Need to Know About Buy-In Premium Estimates After Nov 13, 2023

If DFAS has not received your Letter of Intent by November 13, 2023, we will be unable to provide you with an 

individual estimate of your Buy-In Premium prior to your enrollment. You can enroll without an individual estimate 

by submitting an official SBP Open Season Enrollment Form (available on the webpage above). Keep in mind that 

unless we receive a written request to cancel your enrollment within 30 days of the date of your signature on the 

enrollment form, you will be legally obligated to pay the Buy-In Premium and monthly premiums.

Overview

The deadline to enroll during the SBP Open Season is January 1, 2024. Please see our webpage for FAQs, 

deadlines, forms and details: https://www.dfas.mil/sbpopenseason23

The SBP Open Season allows for retirees receiving retired pay, eligible members, or former members awaiting 

retired pay who were NOT enrolled in SBP or RCSBP (Reserve Component Survivor Benefit Plan) as of 

December 22, 2022 to enroll. 

For a retiree receiving retired pay who enrolls during the SBP Open Season, the law generally requires that the 

retiree will be responsible to pay a one-time “Buy-In Premium.” The Buy-In Premium is comprised of (a) amounts the 

retiree would have been required to pay had they enrolled in SBP at an earlier opportunity plus (b) additional open 

season costs. 

Survivor Benefit Plan Open Season

Enrollment Buy-In Premium Examples for Retirees

Quick Reference

Page 1 of 2 Public - Oct2023

Buy-In Premium Examples

The following SBP Open Season Buy-In Premium examples may assist you in making an enrollment decision 

without first obtaining an individual estimate. Please note these examples are based on simple life circumstances. 

Estimates for an individual retiree are based on their specific life events, and will vary based on those specifics. 

The primary elements that impact the amount of the Buy-In Premium are the:

 Base amount

 Type of coverage

 Date of the retiree’s first opportunity to enroll 

 $1000

 Spouse

 12 years 

 $3000

 Spouse 

or 

Spouse 

and Child 

 6 years 

 Youngest 

child = 8
Notes:

 Individual Buy-In Premiums will vary based on life events of a specific retiree. 

 These amounts do not include additional interest if paying the Buy-In Premium over 12 months. 

 Please see our webpage for FAQs, deadlines, forms and details: https://www.dfas.mil/sbpopenseason23

Survivor Benefit Plan Open Season 

Enrollment Buy-In Premium Examples for Retirees

Quick Reference

Page 2 of 2 Public– Oct2023

Joe

Joe retired from Active Duty 3 years ago. He wants to enroll in SBP spouse coverage during the SBP Open 

Season at a base amount of $4000. This would provide a $2,200 monthly SBP payment to his spouse.

 Joe’s Buy-In Premium to enroll during the SBP Open Season is: $8,998.60

Base amount = $4000; Spouse Coverage; Retired 3 years

Andrea

Andrea retired from Active Duty 15 years ago. She wants to enroll in SBP spouse coverage during the SBP 

Open Season at a base amount of $5000. This would provide a $2,750 monthly SBP payment to her spouse.

 Andrea’s Buy-In Premium to enroll in Spouse Coverage during the SBP Open Season is: $63,557.00

Base amount = $5000; Spouse Coverage; Retired 15 years

Carlos

Carlos retired from Active Duty 6 years ago. Carlos wants to enroll in SBP spouse coverage during the SBP 

Open Season at a base amount of $5000. This would provide a $2,750 monthly SBP payment to his spouse. 

 Carlos’ Buy-In Premium to enroll in Spouse Coverage during the SBP Open Season is: $22,867.00 

Base amount = $5000; Spouse Coverage; Retired 6 years

Michelle

Michelle retired from active duty 21 years ago. She wants to enroll in SBP spouse coverage during the SBP 

Open Season at a base amount of $6000. This would provide a $3,300 monthly SBP payment to her spouse. 

 Michelle’s Buy-In Premium to enroll during the SBP Open Season is: $112,706.10

Base amount = $6000; Spouse Coverage; Retired 21 years

Tom

Tom was not married and did not have children at retirement. He married four years ago and he and his 

spouse now have twins, age 2. Tom did not enroll in SBP coverage within a year of his marriage or having 

children. Tom now wants to enroll in SBP spouse coverage or spouse and child coverage during the SBP 

Open Season at a base amount of $7000. This would provide a $3,850 monthly SBP payment to his spouse 

or $1,925 each to his two children (if his spouse is not eligible and the children are eligible). 

 Tom’s Buy-In Premium to enroll in Spouse Coverage during the SBP Open Season is: $15,747.55

 Tom’s Buy-In Premium to enroll in Spouse and Child Coverage during the SBP Open Season is: 

$15,810.53

Base amount = $7000; Married 4 years; Spouse Coverage or Spouse and Child Coverage; Youngest child age 2 

Buy-In Premium Examples - continued

 $4000

 Spouse

 3 years 

 $5000

 Spouse

 15 years 

 $6000

 Spouse

 21 years 

 $5000

 Spouse

 6 years 

 $7000

 Spouse or 

Spouse 

and Child 

 4 years 

 Youngest 

child = 2