ALCOAST 193/19 - JUN 2019 SGLI AND FSGLI PREMIUM REDUCTIONS

R 051447 JUN 19
FM COMDT COGARD WASHINGTON DC//CG-13//
TO ALCOAST
UNCLAS //N07220//
ALCOAST 193/19
COMDTNOTE 7220
SUBJ: SGLI AND FSGLI PREMIUM REDUCTIONS
A. Secretary of Veterans Affairs letter of 24 May 2019
B. COMDT COGARD WASHINGTON DC 280959 SEP 18/ALCOAST 334/18
1. This ALCOAST announces the new reduced monthly premium rates for life insurance
coverage under the Servicemembers' Group Life Insurance (SGLI) and Family Service
members Group Life Insurance (FSGLI) programs. These premium reductions make these
great life insurance programs even better benefits than they currently are. These
premium reductions do not require any actions by the members.
2. SGLI and FSGLI are extremely valuable benefits for the Coast Guard’s active
duty and drilling Reserve members. Low-cost life insurance for members and their
spouses and children, along with the Survivor Benefit Plan and death gratuity,
provide financial security for surviving loved ones should tragedy overtake their
families. Commanding officers and officers-in-charge should ensure that all of
their Active and Reserve Component crewmembers are aware of the SGLI/FSGLI plans
available to them.
3. Premium rates for SGLI and FSGLI will decrease on 1 July 2019 per REF (A).
Maximum SGLI and FSGLI coverage levels remain at 400,000 United States Dollars (USD)
and 100,000 USD, respectively.
4. SGLI coverage may be purchased in increments of 50,000 USD by eligible members
of the Coast Guard and Coast Guard Reserve.
    a. Beginning 1 July 2019, the monthly SGLI premium paid by a member will be 6 cents
per 1,000 USD of coverage, a decrease from 7 cents per 1,000 USD of coverage.
Maximum coverage will cost 24.00 USD per month, a decrease of 4.00 USD from the
previous monthly rate. An additional 1.00 USD is charged each month for traumatic
injury coverage.
    b. SGLI COVERAGE          OLD MONTHLY RATE          NEW MONTHLY RATE (USD)
       (1) 50,000 USD                 3.50 USD                            3.00 USD
       (2) 100,000 USD               7.00 USD                            6.00 USD
       (3) 150,000 USD              10.50 USD                           9.00 USD
       (4) 200,000 USD              14.00 USD                         12.00 USD
       (5) 250,000 USD              17.50 USD                         15.00 USD
       (6) 300,000 USD              21.00 USD                         18.00 USD
       (7) 350,000 USD              24.50 USD                         21.00 USD
       (8) 400,000 USD              28.00 USD                         24.00 USD
5. FSGLI coverage may be purchased in increments of 10,000 USD for a maximum of
100,000 USD by eligible married members of the Coast Guard and Coast Guard Reserve.
FSGLI dependent child coverage of 10,000 USD per child remains in effect at no
charge to Servicemembers covered by SGLI. Spousal FSGLI coverage cannot exceed the
sponsoring member’s SGLI coverage level.
    a. Beginning 1 July 2019 the monthly FSGLI premium paid by a member will range
from 4.5 cents to 45 cents per 1,000 USD of coverage. Maximum coverage will cost
members 4.50 USD to 45.00 USD per month, depending upon their spouse’s age.
    b. FSGLI coverage costs per month:
         AGE                 100K USD FSGLI COVERAGE         100K USD FSGLI COVERAGE
      BRACKET                   OLD MONTHLY RATE                   NEW MONTHLY RATE
       (1) Under 35                    5.00 USD                                   4.50 USD
       (2) 35-39                         6.50 USD                                   5.30 USD
       (3) 40-44                         8.50 USD                                   7.00 USD
       (4) 45-49                       13.00 USD                                 10.00 USD
       (5) 50-54                       25.00 USD                                 17.00 USD
       (6) 55-59                       37.00 USD                                 29.50 USD
       (7) Over 60                    50.00 USD                                 45.00 USD
6. No action is required by members to address these premium decreases, as they
will be automatically applied to their pay account deductions for current SGLI and
FSGLI coverage levels. Members should contact their P&A offices if they wish to
purchase new or increased SGLI/FSGLI coverage. Procedures to start new or
increased coverage through the new online SGLI Online Enrollment System (SOES)
program are convenient and guidance is found in REF (B).
7. Questions concerning this ALCOAST may be submitted via email to: compensation@uscg.mil.
8. CAPT C. Hulser, Acting Director of Reserve and Military Personnel, sends.
9. Internet release is authorized.