I have a 21yo deployed USAF son and having POA I have been looking at his pay stubs and financial matters. He signed up for the SGLI for the max amount which seems like overkill to me. Why does a 21 yo single with no dependents, no loans and a little bit of credit card debt need 400,000 of life insurance? I have a Bachelor's in Accounting and have worked 20+ years in corporate finance so I am not totally stupid about financial matters. What am I missing?

Thanks.

quote:

Originally posted by 13932643:
I have a 21yo deployed USAF son and having POA I have been looking at his pay stubs and financial matters. He signed up for the SGLI for the max amount which seems like overkill to me. Why does a 21 yo single with no dependents, no loans and a little bit of credit card debt need 400,000 of life insurance? I have a Bachelor's in Accounting and have worked 20+ years in corporate finance so I am not totally stupid about financial matters. What am I missing?

Thanks.

Why don't you ask him?

wow............

Suspended dude from China.

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This message has been edited. Last edited by: Dave_M,

The difference between the full SGLI and the most basic is only 15 dollars a month I believe. However all SGLI payments are refunded while in a tax-exempt combat zone!

The amount of life insurance (I believe 400,000 at approx. $20 a month) that the SGLI offers is a GREAT deal though, for the price some people pay for a carton of smokes!

As far as to why a single guy might have maxed out life insurance, ask him who his benificiaries are. If it's you then rest assured his intentions are good!

This is coming from a 22yo single previously deployed USAF guy who has the minimum SGLI. Ironically, with a mom that has a POA and is also financially savvy!

quote:

Originally posted by 13932643:
I have a 21yo deployed USAF son and having POA I have been looking at his pay stubs and financial matters. He signed up for the SGLI for the max amount which seems like overkill to me. Why does a 21 yo single with no dependents, no loans and a little bit of credit card debt need 400,000 of life insurance? I have a Bachelor's in Accounting and have worked 20+ years in corporate finance so I am not totally stupid about financial matters. What am I missing?

Thanks.

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So please clear with your thoughts.So, We understand you easily
And may provide some better help to you.
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Thanks
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This message has been edited. Last edited by: MortgageGuru,