Convert your SGLI policy with AmFi
Get peace of mind with our adaptable policies, customized to meet your unique needs. Convert your Servicemembers' Group Life Insurance (SGLI) policywith AmFi and ensure that you and your family are covered for years to come.
What are my options?
When military service ends, we’re here to help you convert your SGLI policy
Option 1
Convert SGLI to VGLI
with the VA
Advantages:
- Least expensive way to maintain some type of life insurance coverage
- Guaranteed coverage if done within 1 year and 120 days of separation
Disadvantages:
- Term policies do not provide lifelong coverage
- VGLI policies do not accrue cash value or offer other financial advantages, like the universal life insurance policy that AmFi offers
- The amount of coverage you can receive through VGLI is dependent on the coverage you had through SGLI
Option 2
Convert SGLI to Permanent Insurance with AmFi
Advantages:
- A permanent policy like AmFi's universal life policy will provide insurance coverage up to the age of 100
- Provides a death benefit plus tax-free cash value that grows at a guaranteed interest rate and can be used at your discretion
- Cannot be denied coverage for medical or military service if applied for within 120 days of separation
Disadvantages:
- Permanent insurance is more costly than term insurance
- Takes time to build cash value
Option 3
Convert SGLI to a Permanent Policy & Add an Additional Term Policy
Advantages:
- Get lifelong insurance plus additional coverage for a period of time when you need it most.
- Get the best of both worlds by converting your SGLI policy into a cash-accumulating universal life policy AND get additional coverage by adding a term policy
- Ensures the highest amount of death benefit while you also grow tax-free cash value that can be used at your discretion
Disadvantages:
- Additional coverage costs more
What’s the difference between these
types of coverage?
Craft the perfect plan for your family by understanding the types of life insurance coverage
available when you lose SGLI term insurance coverage
VGLI | Term Life | Universal Life | |
|---|---|---|---|
Veterans’ Group Life Insurance (VGLI) is a term insurance policy available to eligible service members. | AmFi offers low-cost term life insurance policies that can be purchased online in under 5 minutes without having to speak with an agent. | Unlike a term policy, a universal policy offers lifelong protection that includes a death benefit as well as additional financial advantages. | |
How Long Does It Last? | Provides coverage for a limited period of time. Contact the VA for specific details. | Choose between 5, 10, or 20 years of coverage with an AmFi policy. | Our universal life insurance policy offers coverage for the duration of your life, as long as premiums are paid. |
What Can It Cover? | VGLI is a term life insurance policy that provides a lump-sum death benefit but no additional financial advantages. | Our term life insurance provides a lump-sum death benefit but no additional financial advantages. | In addition to a death benefit, our universal life policy accrues cash value at guaranteed interest rates. You can withdraw or borrow the cash value from your policy however you wish. |
How Much Does It Cost? | The VA website has an exact breakdown of costs based on how much coverage you need. | Our plans begin for as low as $9/month. | Our plans are unique based on your needs. Universal life policies are more expensive than a term policy, but they also have flexible payment options. |
Who Should Get It? | Those who want life insurance for a specific period of time and don't need their policy to offer other financial advantages. | Those in good health between the ages of 20-50 who need coverage for a certain period of time and would like to be insured through AmFi. | Those who want lifelong insurance coverage in addition to the financial advantages that a universal life policy offers. |
What to consider when converting your SGLI policy
If you are separating from military service and... | Then you may want to consider VGLI | Then you may want to consider AmFi |
|---|---|---|
Your health conditions or disabilities may impact your ability to obtain life insurance in the future. | x | x |
You desire consistent, lifelong insurance. | x | |
You prefer to bypass a health questionnaire for life insurance eligibility. | x* | x |
You want to secure a death benefit for your beneficiary. | x | x |
You seek life insurance that provides cash & loan value. | x | |
*Only if you apply within the first 240 days from date of separation from active service. |
Here's why thousands choose AmFi
We specialize in life insurance
for our service members
AmFi was founded by a WWII fighter pilot,
and our company was a founding
underwriter of the SGLI program in 1965
We're here
for you
treated like a number, we’re a family-run
business that treats you like family.
Trusted among
the
community
members choose AmFi to protect them
and their families. Contact us to learn why.
Here's why thousands choose AmFi
Our Values
At AmFi, our values serve as the guiding principles that underpin our commitment to safeguarding your family’s future and ensuring financial security.
Excellent Support
Financial Stability
Unlike other insurance companies who invest in junk bonds and derivative instruments, we only invest in strong, safe assets such as high interest government notes and bonds.
Patriotism
We take great pride in serving the interests of our country by supporting the unique needs of the military and first-responder communities while backing only US-based companies.
High Standards
We uphold ourselves to the highest standards of business and to products that incorporate sound planning, flexibility, tax-deferred capital/cash accumulation, and life benefits for our customers.
Integrity
Mr. Woodbury was a man of impeccable character and integrity, and these principles underpin everything that we do.
Family-Centric
We’re a family run business and will always be committed to prioritizing the well-being and financial security of your loved ones above all else, just like you would as a caring friend looking out for those closest to your heart.
Our Values
At AmFi, our values serve as the guiding principles that underpin our commitment to safeguarding your family’s future and ensuring financial security.
Trusted By Our Military Community
Read about how our nation’s top commanders American Fidelity Life Insurance and the
services we provide to the military community.
Open Letter from Former Military Commanders
In support of access to responsible businesses offering reliable
financial products and opportunities
We are writing to encourage your support for our men and women in uniform by ensuring their access to legitimate, reputable financial opportunities beyond those offered by the U.S. government.
Specifically, Trans World Assurance Company and American Fidelity Life Insurance Company have a long history of serving and supporting our military. Founded more than 45 years ago by WWII veteran Charles Woodbury, these companies served as a founding underwriter of the Servicemembers Group Life Insurance, (SGLI) which continues to provide insurance to our military families today. The Woodbury family remains deeply involved in the business, dedicated to the mission of supporting our military personnel. Based on many years of experience, each of us considers Barbara Woodbury-daughter of these companies' founder-to be a true patriot. In both her personal and professional endeavors, Barbara works tirelessly in support of our troops and their families, and we hold her in the highest regard.
Sadly, we recognize that all companies and their executives do not maintain the same ethical standards that we accept as "common virtues" of those in uniform. We applaud vigilant leaders who protect our dedicated military personnel from unscrupulous sales practices, but we would ask that you not punish all companies for the actions of a few.
We are not employees or otherwise affiliated with either of these companies. Our only interest is in providing today's military members with access to credible, legitimate financial opportunities. We believe that those who defend our country deserve the opportunity to supplement their government programs with products from other providers, especially when those providers have a good track record. We encourage you to ensure they have access to the same diversity of financial opportunities enjoyed by our nation's civilian workforce. Armed with accurate information on available opportunities, we are confident that today's men and women in uniform will make educated decisions that will positively impact their future.
Getting started is simple
When military service ends, we’re here to help you get covered and protect your family.
01
our office
02
separation papers
03
We’ll make it easy to stay covered.
Frequently Asked Questions From Our Service Members
FAQ
The process of transferring a life insurance policy from SGLI to VGLI essentially means changing the policy from one that covers active-duty military personnel to one that covers veterans. While you can convert your SGLI policy into a VGLI policy, it’s not necessarily the right choice for all transitioning servicemembers. Here are the main factors to consider when determining whether a VGLI policy is right for you.
While the guaranteed rate on a policy will never change, the current rate may. Interest rates, as well as the economy, have proven to fluctuate. This means your crediting interest rate will most likely change from time to time. Please contact us for the current interest rate for your policy. This does not apply to term life insurance policies.
While the guaranteed rate on a policy will never change, the current rate may. Interest rates, as well as the economy, have proven to fluctuate. This means your crediting interest rate will most likely change from time to time. Please contact us for the current interest rate for your policy. This does not apply to term life insurance policies.
Policies start at $9 per month. The exact amount you pay each month (your premium) is determined by your choices in the coverage amount and length of term, as well as your age, health, and lifestyle choices.
No. With our 5, 10, and 20-year term policies you will be charged the same amount every month for the duration of your policy. When the policy expires, your rate may change based on age and insurability at that time.
We sure do. We don’t advise canceling your policy because your coverage will lapse, but if you cancel within the first 30 days, then we will issue you a full refund. If you cancel after the initial 30 days, then we’ll simply stop charging you.
In addition to life insurance coverage, this policy grows cash value that isn’t taxed right away. This cash asset is a tremendous advantage of our universal policies.
Please contact our office or one of our agents to discuss the universal life insurance policy and to see whether this is the best policy for your needs.
Just like with all our policies, the death benefit is completely tax free. The universal policies accumulate cash value that is tax-deferred. Please contact our team to learn more.
The Policy Owner must complete the appropriate form for the requested change. Forms may be downloaded and printed from the Forms Link after logging in. The Policy Owner may also contact a Service Representative at the Home Office or send us a message through our Contact Us page.
You may contact a Service Representative or register online. By registering online you will be able to view premium payments, make withdrawals and much more. Click here to register.
Upon the death of the Insured, you will contact the Home Office Claims Department to report the death. Be prepared to advise us of the insured’s name, the date and cause of death, and the name, address, and telephone number of the person who should be contacted. A Claimant’s Statement and additional information on how to file a death claim will then be sent to the named beneficiary(ies). You may click the “Claims” link at the top of this page to download the Claimant’s Form and instructions.
Please contact our office immediately to update your banking details and ensure that your valuable coverage isn’t lost.
Protect your legacy
To learn more about converting your SGLI and getting the most out of your life insurance policy, contact us today!
