How Much Is Army Life Insurance? 
Army Life Insurance -LRB- SGLI -RRB- currently costs 6.5 cents per thousand dollars of coverage . It has been at this rate since July 1 , 2008 . On July 1 , 2014 , the cost will go up to 7 cents per thousand dollars of coverage . Eligible servicemembers get the first $ 400,000 for free . 