MT SSLI

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MT SSLI

• MONTY NIELSEN
• TGS GROUP

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State Sponsored Life Insurance

• ..group life insurance program sponsored by the
  military department of the State in which such
  member holds his National Guard membership or by
  the National Guard Association of such state.-
  Testimony before the subcommittee on general
  legislation of the committee on armed services,
  Friday, March 22, 1974.

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State Sponsored Life Insurance

• Other than SGLI, only life insurance program that
  the premium can be payroll deducted from a Guard
  members check.
• Change 3 to the JER. Note in 2c. Guard
  commanders may disseminate information on State
  or State-sponsored servicemens group life
  insurance programs

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TGS GROUP

• Presently work with 35 SSLI programs
• Collect premium and distribute to different
  insurance carriers.
• Process and distribute claims.
• Ensure all units/squadrons are briefed every 12
  to 18 months.
• Continuously review and shop insurance carriers.

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ING/AFBA POOL

• Presently two insurance carriers ING/AFBA.
• 17 States currently in pool to diversify risk.
• Approximately 30,000 Guard members insured with
  annual premium of approximately 2.4 million
  (base program).
• Group governed by bi-laws.
• One State, one vote
• Annual meeting and monthly newsletter

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Pool totals 2006-2007

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Coverage overview

• 1,000 No Cost life insurance coverage on each
  Soldier and Airmen
• Coverage available from 10,000 up to 260,000
  for Soldiers and Airmen
• Coverage available from 5,000 to 155,000 for
  spouses

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Coverage overview cont.

• Coverage continues until age 70 (option to
  convert to a permanent policy at any time)
• Coverage remains the same and monthly rates do
  not change when you retire or leave the National
  Guard (Premiums do increase at age 50 and 60 in
  or out of the Guard)
• Provides an Emergency Death Benefit up to 25,000
  within 24 hours.

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Coverage overview cont.

• Provides a 40,000 scholarship fund to a
  surviving spouse or child of an insured member
  with 100,000 or more of coverage who dies in
  combat zone as a result of combat action.

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Annual Briefings

• 15 minutes to brief and 15 minutes to collect
  forms.
• Important to ensure every soldier/airmen has the
  opportunity to designate a beneficiary for 1,000
  no-cost and current participants can make changes
  to coverage.
• Set briefing meant to educate, not to sell
  insurance. Focus is on supplementing the SGLI.

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MT 2006 Stats

• Approximately 800 paying insured with gross
  premium of 80,000.
• 3 claims in 2006 equating to 314,000. (250,000
  AFBA supplement)
• 12,021.01 Association revenue (ING)
• 375.00 Association revenue (AFBA)..DOWN FROM
  5,025.05 IN 2005!!!!!!

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Points of Contact

• Paul Hepner in State briefer.
• National office 1-800-462-7441. (claims and
  policy service)
• www.ssli.org

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QUESTIONS?