United States Government Life Insurance
What Does United States Government Life Insurance Mean?
The United States Government Life Insurance (USGLI) program was established in 1919 to manage life insurance policies for U.S. veterans who served in the military during World War I, as well as all policies issued to service members up until 1951. The USGLI program was created to provide administrative services for the existing World War I insurance policies, which numbered 4 million, and those issued thereafter until April 25, 1951. The plans offered endowment and death benefits to every covered veteran, providing coverage of up to $10,000.
Insuranceopedia Explains United States Government Life Insurance
In 1917, Congress approved the issuance of life insurance policies to war veterans and other service members who, due to increased risks, existing disabilities, or prohibitive premium rates, would otherwise be unable to obtain insurance coverage from private insurers. Of the policies issued, around 8,000 have remained active. Since 1983, all of these policies have been paid up and continue to provide annual dividend benefits to their respective holders.
