Money Related Articles

Insurance Most Popular Articles

  • Military Health Care for Dummies
    Military.com
    One of the most important benefits you have earned as a military family is comprehensive health care coverage.
  • life insurance and money
    Life Insurance 101: Understanding SGLI
    Mike McHugh
    Life insurance is not a pleasant topic -- but it is an absolute necessity and most families don't have enough.
  • Auto engine repair on creeper.
    10 Things You Need to Know About Auto Insurance
    Military.com|
    Troops have special insurance needs, from storing vehicles while deployed to moving vehicles from one state to another on orders.
  • An ariman fills out an SGLI form (Photo: AFNS.)
    SGLI Coverage: What You Need to Know
    Military.com
    SGLI coverage, or Servicemembers' Group Life Insurance, gives troops term life insurance coverage up to $400,000 with a low pre...
  • Business writing
    SGLI for Reservists
    Military.com|
    Reservists may be covered full or part-time by SGLI. Make sure you know when SGLI starts, when it stops and how much it costs y...

Time for a Check-Up

Financial planners recommend that you review all of your insurance needs at least once a year. Certain changes in your life should prompt a new look at your life insurance needs, such as:

  • Marriage or divorce
  • Birth or adoption of children or grandchildren
  • Buying or refinancing a home
  • Promotion or career change
  • Significant changes in your health or that of your spouse
  • Taking on the responsibility for parents or siblings
  • Transition or retirement from the military

Need for long-term care
Do you have any idea how much life insurance you need right now? The answer

depends on many factors, such as; are you married, how many children do you have, do you want to pay for college, what kind of debt load are you carrying, how much money is your family spending annually now?

How Much Life Insurance Do You Need Today to Provide the Following Annual Income?

Years

$25,000

$50,000

$75,000

$100,000

5

 $120,000

$240,000

$350,000

 $470,000

10

 $220,000

$440,000

$650,000

 $870,000

15

 $310,000

$610,000

$910,000

 $1,220,000

20

 $380,000

$760,000

$1,140,000

 $1,520,000

30

 $500,000

$1,000,000

$1,500,000

$2,000,000

*Insurance amounts above assume a 3 percent interest rate and are rounded up to the nearest $10,000.


Navy Mutual can help you provide the right level of coverage for all the changing events in your life. Calculate your individual insurance needs with our Life Insurance Needs Calculator.


Your life changes and so do your insurance needs. Navy Mutual has a variety of plans that fit you and your family. Many life insurers charge extra to insure military members or limit your coverage when you deploy, Navy Mutual does not. We serve you, with no military service restriction or war clauses; regardless of where you are or what you do, Navy Mutual is with you. Click here to learn which plan is best for you. 

Military News App by Military.com

Download the new Military.com News App for Android on Google Play or for Apple devices on iTunes!

Featured VA Loan Articles