Readers of Tom Philpott's Military Update column sound off.

Thank you for shedding some light on the Survivor Benefit Plan, a great military benefit that a lot of retiring servicemen and women pass up without doing the research.

Although the plan is explained during retirement briefings, many people do not look carefully enough at how the plan works, with a cost-benefit mindset compared to commercial insurance. Your article explained it so simply. It is a good deal.

Related Military Update: Too Many Retirees Turn Down SBP

My husband, who is retiring as an Army lieutenant Colonel, signed me up for coverage. I am very grateful. Many of his colleagues advised against it, saying they could take that monthly portion of retirement pay and buy a life insurance policy.

We sat down, did the math and came to the same conclusion you did. We are both 42 years old. I only would have to outlive him by a few years to reap enough in benefits [to cover paid premiums]. We also added our two sons to the plan for a tiny bit more.

When we went down to Fort Carson to out-process, one of the ladies doing the paperwork for SBP she had spoken with so many spouses of retired servicemen who came back in to ask why they didn't get SBP and why they couldn't get it after the fact. She said most people don't realize the value until it's too late.

I have saved your article and already have shown it to some good friends of ours who are beginning to plan for their military retirement.

DOLLY RICKERMAN
Monument, Colo.

This was a great article and an important one. One reason why so many retired officers opt out is because of financial investment firms like First Command. These organizations vigorously seek out retiring officers to sell them investment products that are not necessarily in the retirees' best interest.

They tried very hard to get me to opt out, and purchase an insurance policy. Knowing that once you opt out you cannot get back in, I chose to draw the minimum from my retired pay and lucky for me.

I think explaining the benefits of SBP in this way, and warning retirees about investment hounds, will help retiring families make better decisions.

ROD HILL
Via e-mail

While I have full payment SBP, if I had to do it over again I would take the minimum coverage. The reason is SBP offers zero flexibility.

With a commercial insurance annuity package, which I also have, I can will that benefit to surviving children. With SBP, payments stop if the wife dies first and investments I made for many years go down the drain.

Please address the lack of flexibility in SBP before you criticize commercial insurance as not as good a deal.

ROBERT E. REYNOLDS
Colonel, retired
Via e-mail

Your column is always full of reliable information about military benefits. The article this week about SBP was very good and I couldn't agree more with your point.

The reputation of SBP has been that it is a rip off, that the money can be better invested on life insurance, etc. I was in that corner. Truth of the matter is I was fairly ignorant of how it worked, hot much it cost and what other options are available to look after a spouse?

After attending a Retirement TAP [transition assistance program] in October 2008, I was still on the fence about SBP. I had talked to a friend, an insurance agent, who said he give me a better alternative to SBP.

I attended another Retirement TAP in February 2009 with an SBP brief by Navy Mutual Aid Association. They cleared up all of my questions. I retired Oct. 1 with 30 years of service.

I am 48 and my wife is 51. When I pass, if my wife is still alive, she would only have to survive me by 43 months to recoup all of the money I paid as SBP premiums. I find it very comforting to know my wife would receive an annuity of $2582 every month if I should die.

The spouse cannot outlive SBP. It may be a hard call to make for many families but it really is a bargain.

I did sit down with my friend the insurance agent. He explained how insurance benefits are tax free while the annuity is not. I came back that the premiums are paid with tax free dollars while insurance is after tax. In the end he respected my decision to go the SBP route.

JAMES APRIESNIG
Master Gunnery Sergeant, USMC-Ret.
Lawton, Okla.

I retired nearly three years ago. If SBP had been explained to me how you articulated it in this article there is no question I would have signed up.

I believe that personnel in retirement offices need more training on what SBP has to offer to the soldier.

I look forward to the next open season on SBP enrollment.

ROGER COTTERELL
First Sergeant, USA-Ret.
Via e-mail

We turned down SBP primarily because we are super "savers" and feel we can invest that money better than SBP can.

Also, we have no reason to trust that if and when we need SBP, the government would have kept its word and provide the benefit we paid for. We have a lot of experience with bennies being tampered with.

Thirdly, SBP would only benefit me as a surviving wife if I stay a lonely widow. The chances are nearly nil, but if I ever found someone as fabulous as my hubby to keep me company in my old age, I could either just shack up with my companion or kiss my SBP good-bye.

We have always been well insured. What we added after retirement to make up for the SBP opt-out was nominal, and the payback difference substantial.

I was a young naïve Army wife once a long, long, time ago. Twenty years of experience with the government's way of doing things taught me to be very self-sufficient. I hope SBP works out for participants when they try to live on the small percentage of their hubby's retirement after all the restrictions. I'll rely on our own financial decisions and investments.

SUZANNE WHALEN
Via e-mail

Letters may be edited for clarity or length. Write to Military Forum, P.O. Box 231111, Centreville, VA 20120-1111, send e-mail to militaryforum@aol.com or visit www.militaryupdate.com.