DoD/VA/VSGLI/SSBI and your spouse for future planning

N

Navy757

PEB Forum Regular Member
Registered Member
Hello,

First time poster, a lot of great information here, terrific job!

My question is as I start this process I want to also make sure that I am planning correctly for the future needs of my family. So what exactly would my spouse be entitled too after this processes is complete and god forbid I passed away? For sake of this scenario I will retire pass 20 years and plan on electing surviving spouse benefit insurance (SSBI), getting VSGLI if eligible, but will my spouse get the VA or DoD disability retirements too, and at point if any does it make a difference?
Thanks in advance.
 
Navy757 said:
Hello,

First time poster, a lot of great information here, terrific job!

My question is as I start this process I want to also make sure that I am planning correctly for the future needs of my family. So what exactly would my spouse be entitled too after this processes is complete and god forbid I passed away? For sake of this scenario I will retire pass 20 years and plan on electing surviving spouse benefit insurance (SSBI), getting VSGLI if eligible, but will my spouse get the VA or DoD disability retirements too, and at point if any does it make a difference?
Thanks in advance.
Click to expand...

1. Dependency and Indemnity Compensation (DIC) is a tax free monetary benefit paid to eligible survivors of military Servicemembers who died in the line of duty or eligible survivors of Veterans whose death resulted from a service-related injury or disease.
https://benefits.va.gov/compensation/types-dependency_and_indemnity.asp

2. Survivors Benefit Plan
The Survivor Benefit Plan (SBP), Reserve Component Survivor Benefit Plan (RC-SBP) and Retired Serviceman's Family Protection Plan (RSFPP) provide eligible beneficiaries with a form of benefit called an "annuity." An annuity is a monthly payment for the lifetime of the beneficiary. The amount of the benefit is a percentage of your retirement benefit based on your election.
https://www.dfas.mil/dfas/retiredmilitary/provide/sbp.html

3. Your VA compensation does not transfer to your surviving spouse.

4. Your DoD retirement does not transfer to your surviving spouse; however, see SBP above.


Ron
 
I would pick one and stick to it either SBP or VGLI. Does your spouse work or have any assets or savings of her own? If yes then I would choose SBP it's going to be smaller than your retired pay but it could be very useful in her golden years while also collecting SS. If she has nothing then I would max out VGLI at 400k and get another one through AAFMAA if your debt to asset ratio is very high.
 
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