RE: http://www.military.com/features/0,15240,174823,00.html

My husband served 20 yrs in the Army. He spent 16 of his 20 yrs overseas serving our country and I am proud of him.

It took me six months to get my SBP payment because of a mess up in some government office. If I had not finally called someone about it, I'd still be living on NOTHING.

My husband and I chose this package INSTEAD of life insurance.

I believe Army Finance will keep appealing this until all the Vietnam veterans and their widows are dead. That will save them a lot of money, won't it?

Shirley

I retired recently at the age of 62 with over 41 years service. The SBP program wanted to deduct over $200 from my retirement so my wife could receive 55% of my retirement check. It is a ripoff. For my wife to get around $2,000 a month/$24,000 year taxable income,is so out of line with a good 20 year term policy. I applied and received a $500,000 policy from a great insurance company for around $180 per month. My wife will receive that sum--TAXFREE upon my death. If she dies first, my children will receive the $500,000. NO LOST PREMIUMS.My wife can invest the money at around 4-5% and receive the same amount as the SBP and NEVER touch the principle. It can also be left to the children. ANYBODY THAT TAKES THE SBP (EXCEPT DISABLED UNABLE TO GET INSURANCE) IS CRAZY.

SBP is a total rip off. I can get the same benifit by getting good temp life Insurance and invest the difference (SBP payment) in a good growth stock mutal fund. Thsi leaves an inharence to by family no matter what.

By the time my husband and I were married, we were both too old and unwell to get life insurance the standard way. His health, of course, was a result of Vietnam. All those years after Vietnam he was unaware he was eligible for agent orange benefits...or felt others deserved it more. As an added slap in the face, I understand our government is going to be paying thousands of Vietnamese a disability stipend for agent orange. Once again we take care of our 'enemies' before or instead of taking care of our own. How typical of us.
Furthermore, I am 63; too young for Medicare or Medicaid. My health is going to the dogs and I can't afford proper medical because of the extreme costs of medical care - even my 20% after Tricare is just too much for my purse. I have purchase supplemental but I can't afford a package that amounts to anything really helpful. With that SBP I could have paid for a decent supplemental medical package.

If a member does not want SBP does his wife have to also agree?

I'm not sure I understand your question but this is a sort of insurance package military personnel are offered. I believe it's the sole choice of that person.

Yes, I remeber having to have the wife sign that she was aware that she would not be getting SBP.

My bank received a deposit to my account the other day from DFAS. I called DFAS to see what it was and they said it is the premiums he paid into SBP. It makes me angry. I'd much rather be receiving the hard-earned monthly annuity. I feel like the Army cut me loose. I feel adrift and unprotected. To make matters worse, I can't, at my age and health, get affordable insurance and don't have enough of an income to buy it if I could get it.

When my husband retired in 1991 I elected to take SBP. The reason was due to my husband being uninsurable. In 1989 after arriving at Ft Benning, GA we found out my husband was all most in grade 4 bladder cancer could have died in 6 months. He was on Chemo for 1 year. While in Germany the doctors said it was just a bladder infection.

Without SBP, I would be hurting financially. My husband served 28 years in the Navy and when he retired, he tried to talk me into an insurance policy instead....My thoughts were that when the money is gone from an insurance policy....It is gone..........Instead, I would not sign off on the SBP and when he died in March 2006, I began receiving the SBP annuity. He paid in approximately 15,000 towards the annuity and I have already received over 21,000 in payments. It has been a lifesaver (financially) for me. Thank you very much. Nan

When SBP works as it was designed it is a great program. It gives income as well as the much needed health insurance, which will be there when needed. Unlike buying commercial insurance which can be cancelled for several reasons, as forgetting premium payments, the company cancellation of policies in the state of residence. Also the ever increasing premiums on health insurance or decreasing benefits.
Since 1983 I have personally lobbied my Senators and House of Representatives members to upgrade SBP and keep it in force, when the surviving spouse became eligible for DIC. I started on that project when John Glenn was a Senator from Ohio, he disagreed with me, but we VSO's kept on plugging until we now see light.
The SBP program still needs work, but with that being said, it is important to those who need it.
In regard to the above post stating to buy life insurance and invest the difference. Some times people cannot afford to invest. When it comes to food on the table, or paying your childs doctor bill the investments can fall. Not everyone is well to do in this society. Many retirees come out of the service disabled and cannot find a suitable type employment. I know because I represent veterans and their survivors. I have observed in my 30 years doing this work, many hungary widows and children.
One size does not always fit all.

Could it be that the SBP/DIC offset, which the Senate has tried to eliminate for years, has enouraged active duty personnel to look at different options as mentioned in this forum. They realize that they could pay premiums for years and their spouse may not receive this benefit if there DIC is higher.
Congress,especially the HOUSE, needs to correct this inequity as the Military Coalition advises.

Congress needs to

My husband died from Agent Orange in 1987. I was given a refund of the annuties premium instead of the annuity that had been paid for each month. DIC was paid with the balance being offset by Finance. At age 62, the Finance Department reduced my benefits by Social Security offset. This was stopped, but where did this money go? Was it added to my social security entitlements?

quote:

Originally posted by wordsmith19452:
RE: http://www.military.com/features/0,15240,174823,00.html

My husband served 20 yrs in the Army. He spent 16 of his 20 yrs overseas serving our country and I am proud of him.

It took me six months to get my SBP payment because of a mess up in some government office. If I had not finally called someone about it, I'd still be living on NOTHING.

My husband and I chose this package INSTEAD of life insurance.

I believe Army Finance will keep appealing this until all the Vietnam veterans and their widows are dead. That will save them a lot of money, won't it?

Shirley

Why is it that you are only given a certain time period to make changes? Sometimes things are drawned out in the court system, you have no choice but to wait, then we are penalized because we run out of time. If things need to be changed we should be able to change them.

BEWARE, IF A MILITARY MEMBER'S MARRIAGE ENDS UP IN A DIVORCE THE MILITARY MEMBER HAS TO PAY 100%OF THE SBP PREMIUM LIKE I HAVE TO. SO IF THE MEMBER HAS TO PAY THE EX SPOUSE 50% OF THEIR RETIREMENT PAY ADD THE SBP PREMIUM TO THE 50% ALSO. LOUIE