How Much Is Life Insurance For Soldiers? 
Life Insurance for soldiers -LRB- SGLI -RRB- costs 6.5 cents per month per $ 1,000 of coverage at the current time -LRB- June , 2013 -RRB- . To calculate that , you take the number of thousands of dollars of coverage you are receiving -LRB- soldiers are automatically enrolled for $ 400,000 -RRB- times that factor . 400 times 6.5 cents comes to $ 26/month . With the TSGI protection added for $ 1/month , the total premium comes to $ 27/month . Keep in mind that , under current VA benefits there is no time when you will be able to convert that Term policy to Permanent insurance , or buy a Permanent policy , through the Veterans Administration . So while that is a very reasonable price for $ 400,000 of life insurance , it is a good idea to get a private permanent policy on the side while young and healthy enough to get a good rate . 