Servicemen
Definition of "Servicemen"
U.S. government group term life insurance for male and female members of the federal uniformed forces on active duty, underwritten by private insurance companies. Premiums reflect peacetime mortality rates for this group, with any additional costs of military risks (such as wartime exposure) being borne by the federal government. Upon discharge, SGLI policies can be converted either to five-year nonrenewable term veterans group life insurance (VGLI) or to a permanent policy at the veteran's attained age (at higher cost) with one of the commercial insurance companies participating in the serviceman's plan.
Popular Insurance Terms
Costs associated with the general administration of the insurance organization to include such items as utilities, rent, salaries, postage, furniture, and housekeeping charges. ...
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Deferred annuity under which one premium payment is made and the annuity is paid up (no further premium payments are required). ...
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Arrangement whereby an insurance company agrees to pay specified health care service vendors a predetermined sum for providing such services to the covered individuals. ...
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