Military life insurance and survivor benefits | USAGov (2024)

FAQs

Is sbp a good deal for the military? ›

Given the current government contribution towards a portion of the premium, the answer for most retirees is yes! Whether SBP is a good buy for an individual depends on personal preferences, the member's age, sex, and health compared to their beneficiary's.

If you qualify for this benefit as a surviving spouse or dependent child, we'll base your payment amount on the difference between your income for VA purposes and a limit that Congress sets (called the Maximum Annual Pension Rate, or MAPR).

Benefit Payments

The base amount may range from a minimum of $300 up to a maximum of full retired pay. The annuity is 55 percent of the base amount.

SBP provides up to 55 percent of a service member's retired pay to an eligible beneficiary upon the death of the member. After the service member passes away, the SBP annuity is paid out monthly to the surviving spouse, or to the child or children of the member.

A member who elected SBP and has paid premiums for 30 years (360 months), and who is at least 70 years of age, is considered "paid-up". Although SBP coverage continues, no further premiums are required.

Life insurance and SBP are very different products for very different goals. Life insurance provides a lump sum of money, and SBP provides inflation-adjusted, lifetime income. How much of each you need depends on a wide variety of factors, and most families find that they need some of each.

Your military pension does not affect your Social Security benefits. You'll get your full Social Security benefit based on your earnings. Survivors benefits may affect benefits payable under the optional Department of Defense Survivors Benefit Plan.

Unfortunately, your spouse cannot receive your VA disability compensation after you die. However, they may get a monthly allowance if they qualify for Dependency and Indemnity Compensation. If you lived in government housing, VA might also allow them to stay in residence for up to a year.

How long does a widow receive survivor benefits? Social Security benefits are payable to you for life unless you collect a retirement benefit that is greater than the survivor benefit.

SBP is 55 percent of the base amount you choose to cover. The base amount is between the minimum of $300 per month and to the maximum of your full retired pay. You can elect an amount of SBP you want to provide by adjusting your base amount.

What happens to sbp if spouse dies first? ›

Spouses will receive SBP for life unless remarried prior to age 55. If that marriage ends, the SBP annuity will resume. If your spouse dies first or you get divorced, SBP costs will stop (once you notify the Defense Finance and Accounting Service).

Benefit overview

Military retired pay stops upon the death of the retiree. The Survivor Benefit Plan allows a retiree to ensure, after death, a continuous lifetime annuity for their dependents.

Surviving spouse, at full retirement age or older, generally gets 100% of the worker's basic benefit amount. Surviving spouse, age 60 or older, but under full retirement age, gets between 71% and 99% of the worker's basic benefit amount.

SBP annuities for survivors of Soldiers who die on active duty are 55% of what the Soldier's retired pay would have been if they had retired on that date with a 100% disability, which is 75% of the Soldier's highest 36 months of base pay (or of final base pay for Soldiers who entered military service before 8 September ...

Your military pension does not affect your Social Security benefits. You'll get your full Social Security benefit based on your earnings. Survivors benefits may affect benefits payable under the optional Department of Defense Survivors Benefit Plan.