State Sponsored Life Insurance The ONGA/ONGEA State Sponsored Life Insurance program offers coverage of $150,000 for guard members and their spouses and term insurance for children with a maximum of $20,000 per child.
The available standard SSLI program provides coverage of $10,000 to $50,000 on guard members; $5,000 to $25,000 on spouses; and $5,000 to $10,000 on dependents (including spouse).
Lean-15 Plan is for guard members and their spouses ages 45-64. Plans are available for $100,000, $15,000, and $20,000. Monthly premiums are set upon initiation of plan, based on specific age, gender and whether the individual is a smoker or non-smoker; rate charts are the same for guard member and spouse. Coverage will remain intact for 15 years after the guard member turns 65, as long as the program is initiated by age 64.
Children’s Coverage has monthly premiums that run $1.50 per unit, each unit covers all eligible dependent children ages 14 days through 22 years.
What’s the Advantage?
The SSLI program was created to supplement the Servicemen’s Life Insurance (SGLI) program, which automatically enrolls guard members for $400,000 coverage and spouses for $100,000 coverage, unless declined or a lesser amount is chosen.
One of the biggest benefits of the SSLI program is that the beneficiary receives a check within 24 hours of notification of death, while SGLI could take six weeks or four months to respond.
In addition, SSLI provides coverage for guard members and spouses even after the member leaves drill status.
With SGLI, when members leave or retire from the Guard, policies must be converted to Veterans Group Life Insurance (VGLI) and no term coverage is offered to spouses at all. SSLI also continues to offer $1,000 free coverage to all members of the Guard, and payments for optional coverage may be automatically deducted from drill pay.