Using Life Insurance to Cover Your Full Military Pension Amount
In this discussion, Scott and Mike are discussing life insurance strategies for military retirees to maximize their military pension income and protect it for their families.
Life Insurance Can Cover Your Full Military Pension Unlike the Survivor Benefit Plan
They mention using life insurance policies to provide a death benefit that covers the full pension amount, rather than just the 55% covered by the Survivor Benefit Plan (SBP). They discuss how high-income earners can use life insurance not just for death protection, but also as an income strategy if they have the funds and health to qualify. The main challenge is that traditional term life insurance or other options may become too expensive or expire before the retiree actually passes away.
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