That protection matters. Veteran-owned businesses contribute hundreds of billions to the U.S. economy, but they’re often launched during major life transitions—moving to civilian employment, navigating new benefits, or taking on financial obligations to get a company off the ground. When so much is in motion, having portable life insurance coverage can serve as a stabilizing force.

Most small businesses don’t offer employer-sponsored coverage. That leaves veteran entrepreneurs balancing two responsibilities: protecting their household and ensuring the business they’re building isn’t left vulnerable if something unexpected happens. Coverage that remains in place through career changes, business growth, or gaps in employer benefits can help families stay protected, even when income fluctuates.

Some veterans also bring dependents, blended families, or single-parent responsibilities into their entrepreneurial journey. Life insurance can help support future needs by providing beneficiaries with resources for childcare, housing, education, or debt.

The Uniformed Services Benefit Association® (USBA®) offers coverage options that fit these realities. USBA coverage is portable; it stays with our Members through job changes, business launches, relocations, or retirement. That kind of portability gives entrepreneurs space to grow without rebuilding their financial protection strategy each time their work evolves.

For long-term planners launching a business intended to support their families for decades, USBA’s 20-Year Group Level Term Life Insurance can support coverage during major personal and professional milestones. Its longer coverage period can be especially meaningful for entrepreneurs who want stability while building a company or preparing for their dependents’ future needs. For entrepreneurs raising children, options like Children’s Group Whole Life can help establish a foundation of coverage early in life—something many families find valuable when planning ahead.

Even short-term protection can matter. During the early phases, when budgets are tight and timelines uncertain, USBA’s 5-Year Group Level Term may offer coverage for those who want predictable protection while developing plans.

For eligible applicants who apply online, the QuickDecision^sm process can speed up an application with real-time underwriting decisions. Many applicants receive a decision in minutes, often without a medical exam—an advantage for entrepreneurs who don’t have spare time in their week. QuickDecision may not be available in all states, and some applicants may be referred for further review.

Veteran entrepreneurs bring innovative strengths into the marketplace: discipline, leadership, teamwork, and adaptability. But they also carry meaningful responsibilities, especially when their families rely on the success of the business they’re working to build. Portable life insurance can help support those responsibilities by offering protection that moves with them.

USBA has supported military families for over 65 years with coverage options tailored to the realities of military and post-military life, for veterans looking to protect both their business dreams and their families’ future, exploring coverage offered through USBA can be a meaningful first step.

Disclosure: QuickDecision uses data sources to verify your health history, so there are no medical exams or lab tests to receive a decision on your insurance application. Any approval decisions on applications are conditional upon confirmation of your group status and coverage limit eligibility. A referral decision may be given if an underwriter needs to further review your application and may reach out to confirm details or request additional information. QuickDecision may not be available in all states and territories.

The truth? Some common misunderstandings could leave you and your loved ones underinsured—or paying more than necessary over time. Here’s how you can make the best choice and why the Uniformed Services Benefit Association® (USBA®) has been a trusted military life insurance provider since 1959.

Myth #1: SGLI Coverage Lasts Forever

SGLI is excellent coverage during active duty, but many service members don’t realize it ends 120 days after separation. While VGLI offers a way to continue coverage, it isn’t your only option—and may not be the best fit for your long-term needs.

What You Can Do

Instead of simply defaulting to VGLI, compare your options. USBA offers group term and whole life insurance policies designed for military families. Some plans provide higher coverage amounts than VGLI, and depending on your situation, USBA’s group rates could be more competitive over time.

Myth #2: VGLI Is the Most Affordable Option

While VGLI is available without medical underwriting if you apply within 120 days of separation, waiting beyond this period means you’ll need to provide evidence of good health to qualify. Additionally, VGLI coverage is limited to the amount you had through SGLI, meaning you cannot increase your coverage beyond what you carried while serving. Furthermore, VGLI rates increase every five years—meaning your premiums could become significantly higher as you age.

A Smarter Alternative

With USBA’s group life insurance, some policies offer coverage amounts of up to $750,000 and predictable premiums, allowing you to increase your coverage beyond SGLI limits if necessary, aiding military families in planning with confidence. Additionally, applying early might secure better rates, depending on your age and health.

Myth #3: Your Spouse and Children Are Automatically Covered

Many assume that SGLI also fully protects their spouse and children. However, FSGLI (Family Servicemembers’ Group Life Insurance) only covers spouses up to $100,000 and dependent children up to $10,000—which may not be enough.

How USBA Helps

USBA simplifies extending coverage to your spouse and children with additional group life insurance options. This means you can customize a plan that provides the financial security your family needs.

Myth #4: Military Life Insurance Has a War Clause

A common concern is that military life insurance won’t pay out if a service member dies in combat.

The Truth About USBA

Unlike some insurance providers that historically included war clauses, USBA was one of the first companies to eliminate the “war clause” from all of our military life insurance policies. That means USBA has NEVER excluded coverage for military members, even in combat zones.

Myth #5: You Can Always Get Life Insurance Later

Some service members think they can wait until they separate or retire before getting additional coverage. However, waiting can mean higher costs or difficulty qualifying if health issues arise.

Plan Now for the Future

Applying for USBA group life insurance while you’re still serving allows you to benefit from preferred rates and ensure a smooth transition after separation. With options for both term and whole life insurance, USBA helps you secure flexible coverage for every stage of military life.

Why Military Families Trust USBA

Since 1959, USBA has been dedicated to serving military families with affordable, no-war-clause life insurance options and excellent customer service. With flexible plans, competitive group rates, and the ability to cover spouses and children, USBA makes it easier to build a financial safety net for your loved ones.

Find the right coverage for your family today: USBA Life Insurance

Joint Life Insurance is one contract covering two lives for one premium.

Like an individual life insurance policy, a joint policy helps ensure that your family is financially protected if one or both of you die prematurely. Proceeds can be used for funeral expenses, debt repayment, day-to-day living expenses — however the surviving spouse chooses.

Domestic partners qualify in many states. Check your state laws. You might be asked to provide proof of partnership status.¹

Be aware that in case of divorce, a joint policy may terminate rather than split into two benefits. Policies differ in how they treat that situation.

Joint life policies come in more than one basic design:

Permanent– designed to last for life; more expensive at most ages but earns cash value

Term– designed to last a given period, such as 10-30 years, with no cash value accumulation²

Two other policy design distinctions exist:

First-to-Die: This pays a death benefit when the first spouse dies. It’s typically used for income replacement as the surviving spouse beneficiary collects the insurance benefit tax-free; it can help pay off a mortgage, fund child education expenses. The survivor may need their own policy afterwards, and many insurance companies allow you to exchange for a new policy without underwriting.

Second-to-Die: Also known as survivorship, this pays a benefit after both spouses have passed away. The intent is to create a financial legacy for children or other beneficiaries in the future. The surviving spouse continues to pay premiums to maintain coverage for the beneficiaries.

Determine If Joint Coverage Is Right for You

For instance, a First-to-Die Joint Life Insurance policy might be right for you two if:

• You are a young, two-income family, with or without children.
• Your family is on a tight budget.
• You prefer the convenience of paying only one life insurance bill, rather than two.
• You have a specific need you’re addressing, such as paying off a mortgage.
• You’re both healthy, of similar age and don’t need different coverage levels or policy types.

Interested in Learning More About Joint Term Life Insurance for Military?

The best life insurance for married couples who are serving or have served depends on your individual circumstances. If you think a first-to-die joint term life insurance policy might be right for you, consider USBA’s TWO for ONE® Group Level Term Life Insurance.

USBA’s TWO for ONE policy offers these key policy features and advantages:

• Dual coverage for one premium
• Pays double if both spouses die in the same accident
• No war exclusion
• Survivor spouse exchange privilege without underwriting
• Preferred rates for qualified applicants
• Portable life insurance
• 30-day satisfaction guarantee
• Non-profit association founded by military
• Underwritten by New York Life

To see if TWO for ONE is right for you, visit our website for more details or call a USBA Product Specialist at 877-297-9235.

With VGLI, you can get between $10,000 and $500,000 in term life insurance benefits. The amount you’ll get will match the amount of SGLI coverage you had when you left the military.

It’s important to note that on October 17, 2022 the Supporting Families of the Fallen Act was signed into law. The legislation increased insurance coverage from $400,000 to $500,000 for Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI).

While this is good news for service members and veterans alike, you may need more life insurance than what is available to you via VGLI and you may want to take the time to get quotes from a number of providers.

For example, USBA offers you more policy options and a higher maximum coverage.

USBA is a not-for-profit Association founded in 1959 to meet the needs of active-duty military personnel who, at that time, had difficulty finding adequate life insurance coverage that would cover combat-related deaths. For more than 60 years, USBA has provided group life insurance to military personnel, National Guard and Reserve members, Veterans and their families.

5 Things to Consider When Planning for your Post Transition Coverage

• You need coverage for your entire family. Did you know that VGLI only covers you when you separate from the military? With group life insurance from USBA, you can secure your family’s financial future with coverage for you, your spouse and eligible children, too.
• You need more coverage than VGLI offers. If the VGLI maximum coverage amount isn’t sufficient for your family situation, USBA policies offer protection up to $750,000.¹ If you need help determining the amount of life insurance you and your family need, use our handy Life Insurance Coverage Estimator.
• You’re healthy and lead a healthy lifestyle. While VGLI rates are one-size-fits-all, if you’re healthy and lead a healthy lifestyle, you may qualify for USBA preferred life insurance rates which provide substantial savings over our standard rates. These rates are available in coverage amounts from $100,000 to $500,000.
• You want more predictable rates. When you convert your coverage to VGLI, be prepared for premium increases every five years. USBA offers 15- and 20-Year Group Level Term policies. Although not guaranteed, your monthly cost is expected to remain level for the first 15 and 20 years respectively. USBA also offers Group Whole Life Insurance options. With Group Whole Life Insurance, your premium rate is guaranteed, and your benefit will never change, provided premiums are paid when due.
• You want more choices. USBA offers a choice of eight group life insurance policies, including both Term Life and Whole Life, so you can choose the option that best fits your needs.

Don’t wait until your SGLI is about to end. Let the professionals at USBA help you find the right insurance policy for you and your family. To learn more about USBA’s coverage options please visit their website for more details, or call a USBA Product Specialist at 877-297-9235.

The appearance of U.S. Department of Defense (DoD) visual information does not imply or constitute DoD endorsement.

¹ The overall maximum coverage for each Member/Associate Member is $650,000 under all USBA-sponsored Group Life Insurance policies, with the option for those ages 69 and below, if approved, to add up to an additional $100,000 of Traditional Whole Life (G-10648-0), for a maximum of $750,000.