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
Payment of that portion of the annual premium by the employee necessary to cover the PS-58 cost for that given year. Any unpaid premium balance for that particular year is paid by the ...
Measurement of how people feel about prevailing economic conditions, employment outlook, and personal finances. This index is based on statistics gathered from questionnaires mailed by the ...
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Circumstance in which an insurance company can issue life or health insurance to an applicant based on standards set by the company. ...
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Annuity that continues income payments as long as the annuitant lives, ceasing upon the individual's death. ...
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Entitlement of a pension plan participant (employee) to receive full benefits at normal retirement age, or a reduced benefit upon early retirement, whether or not the participant still ...
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