Does Military Offer Life Insurance? 
The military offers their own group life insurance policy called SGLI -LRB- Servicemembers Group Life Insurance -RRB- . Servicemembers are automatically issued $ 400,000 of life insurance at a very reasonable cost , but they can choose to take a lower amount , or decline it altogether . Upon leaving the service , they can convert it to VGLI -LRB- Veterans Group Life Insurance -RRB- if they do so within a certain time frame . 