R 200714Z MAR 01 ZYW
FM CMC WASHINGTON DC//MCRC//
TO MARADMIN
BT
UNCLAS //N01700//
MARADMIN 130/01
MSGID/GENADMIN/CG WASHINGTON DC/MCRC/MRC//
SUBJ/SERVICEMEMBERS' GROUP LIFE INSURANCE (SGLI) COVERAGE INCREASE//
REF/A/DOC/PUBLIC LAW 106-419/-/01NOV00//
REF/B/DOC/OASD/-/12MAR01//
REF/C/DOC/CMC MIF/-/03JAN00//
REF/D/DOC/CMC MRC/-/18DEC98//
NARR/REF (A) IS SECTION 312 OF THE VETERANS BENEFITS AND HEALTH CARE
IMPROVEMENT ACT OF 2000; REF (B) IS OASD MEMO. REF (C) IS MCO
P1080.40B, MCTFSPRIM; REF (D) IS MCO P1741.8D, GOVERNMENT LIFE
INSURANCE MANUAL.//
POC/S.O. WALLACE/CAPT/MRC/-/TEL:703-784-9512/TEL:DSN: 278//
RMKS/1. REF (A) AUTHORIZED AN AUTOMATIC INCREASE OF SGLI COVERAGE
TO $250,000 FOR ALL MEMBERS ELIGIBLE FOR SGLI. REF (B) PROVIDES
UNIFORM GUIDANCE FOR AUTOMATIC COVERAGE INCREASE UNDER THE SGLI
PROGRAM.
2. EFFECTIVE 1 APRIL 2001 (DETERMINED ON A WORLDWIDE BASIS BY TIME
AT THE INTERNATIONAL DATELINE), ALL ELIGIBLE MARINES WILL
AUTOMATICALLY BECOME INSURED FOR THE MAXIMUM COVERAGE OF $250,000.
THE STANDARD MONTHLY PREMIUM DEDUCTION WILL REMAIN $.80 PER $10,000
OF COVERAGE. THEREFORE, $20 WILL BECOME THE MONTHLY PREMIUM FOR
$250,000 COVERAGE.
3. ON OR AFTER 1 APRIL 2001, MARINES MAY (1) DECLINE COVERAGE OR
(2) ELECT A REDUCED LEVEL OF COVERAGE IN INCREMENTS OF $10,000. SUCH
ELECTIONS MUST BE MADE ON OR AFTER 1 APRIL 2001, BY COMPLETING A
NEW SGLV 8286 (APRIL 2001 VERSION). ANY MARINE WHO ELECTS TO
REDUCE OR DECLINE COVERAGE DURING THE PERIOD 1-30 APRIL 2001, WILL
NOT BE REQUIRED TO PAY THE APRIL PREMIUM ASSOCIATED WITH FULL
COVERAGE. IF THE FULL PREMIUM IS DEDUCTED FROM THE MARINE'S APRIL
PAY, THE EXCESS PREMIUM WILL BE REFUNDED. MARINES WHO DO NOT
DECLINE COVERAGE OR MAKE A REDUCED ELECTION DURING APRIL 2001 WILL
BE CHARGED $20 FOR THE FULL $250,000 OF COVERAGE FOR APRIL AND
SUBSEQUENT MONTHS IN WHICH THE LEVEL OF COVERAGE REMAINS IN EFFECT.
ELECTIONS MADE BEFORE 1 APRIL 2001 WILL NOT APPLY IN REGARD TO LEVEL
OF COVERAGE. NEW SGLI ELECTIONS WILL CONTINUE TO BECOME EFFECTIVE
THE FIRST DAY OF THE MONTH AFTER AN ELECTION IS OTHERWISE PROPERLY
MADE. ALL MARINES WILL BE FULLY INSURED FOR $250,000 THROUGHOUT THE
MONTH OF APRIL 2001, REGARDLESS OF ANY ELECTION FILED DURING THE
MONTH.
4. COMMANDERS SHOULD ENSURE ALL MARINES UNDER THEIR COMMAND ARE
AWARE OF THE AUTOMATIC INCREASE TO THE SGLI COVERAGE. MARINES
SHOULD BE ADVISED TO REVIEW THEIR LES TO ENSURE THEY ARE RECEIVING
THE DESIRED AMOUNT OF COVERAGE AND THAT THE APPROPRIATE PREMIUM IS
BEING DEDUCTED BEGINNING WITH THE MAY 2001 LES.
5. COMMANDERS ARE REQUIRED TO ENSURE ALL MARINES COMPLETE A NEW
SGLV 8286 (APRIL 2001 VERSION) ON OR AFTER 1 APRIL AND BEFORE 31
JULY 2001. EXISTING BENEFICIARY DESIGNATIONS WILL REMAIN EFFECTIVE
UNTIL A NEW SGLV 8286 IS PROPERLY COMPLETED. SGLI BENEFICIARY
PAYMENTS FOR DEATHS ON OR AFTER 1 APRIL 2001 AND BEFORE COMPLETION
OF A NEW SGLV 8286 WILL BE ALLOCATED IN THE SAME PROPORTIONS AS THE
LAST VALID SGLV 8286 COMPLETED BY THE MARINE. THE REVISED SGLV 8286
WILL BE AVAILABLE 1 APRIL 2001 ON THE DEPARTMENT OF VETERANS
AFFAIRS WEBSITE AT WWW.INSURANCE.VA.GOV. THE NEW FORM WILL BE
FILLABLE, ALLOWING ENTRIES TO BE MADE. THE FORM CAN BE DOWNLOADED
OR PRINTED DIRECTLY FROM THE WEBSITE.
6. MCTFS REPORTING INSTRUCTIONS WILL BE PUBLISHED BY DFAS-PSMP/KC
PAAN/RPAAN MSG. THE NEW COVERAGE AND PREMIUM OPTIONS WILL BE
REFLECTED IN THE FORTHCOMING REVISED EDITION OF REF (C). REF (D)
WILL BE REVISED TO PROVIDE INSTRUCTIONS FOR THE MANAGEMENT OF THE
SGLV 8286.
7. THIS MSG HAS BEEN COORDINATED WITH CMC (MIF) AND DFAS-KC.//
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