What Company Is Behind Servicemembers Group Life Insurance
The company behind Servicemembers Group Life Insurance is the Principal Mutual Life Insurance Company. Principal administers the SGLI program on behalf of the U.S. Department of Defense, managing enrollment, premium collection, claims processing, and policy servicing for active-duty servicemembers, reservists, and certain veterans.
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How the SGLI Program Works
SGLI is a group term life insurance program available to eligible members of the military services. Principal Mutual handles the administrative and underwriting functions, while the federal government sets eligibility rules, coverage tiers, and premium rates. Servicemembers are automatically enrolled unless they decline coverage or elect a different amount.
Principal Mutual Life Insurance Company
Principal Mutual, headquartered in Des Moines, Iowa, is one of the largest mutual life insurance companies in the United States. It has a long history of serving military populations and also administers other government-sponsored insurance programs, including Federal Employees Group Life Insurance. The company operates under contracts with the government, and its role is strictly administrative and claims-focused.
Key Features of SGLI Coverage
- Coverage is offered in increments up to $400,000, with a minimum of $10,000.
- Premiums are deducted from paychecks on a pre-tax basis.
- Coverage continues for a period after separation or retirement, subject to specific rules.
- Beneficiary designations can be changed at any time through the proper military channels.
Claims and Beneficiary Support
When a claim is filed, Principal Mutual processes it directly with the designated beneficiary. The company provides online and phone-based claims support, and servicemembers can update beneficiary information through their military personnel system, which then communicates changes to Principal for policy administration.