Changing Military Retired Life Insurance Beneficiary: A Step-By-Step Guide

Designating a beneficiary on a life insurance policy is one of the most important parts of the policy. The owner of the policy is the only one who can designate and change beneficiaries. The owner may designate any individual, legal entity, or estate. The owner may change the beneficiary designation at any time before the death of the insured and without the consent or knowledge of the beneficiaries. If you are in any uniformed service, except the Public Health Service, and have full-time Servicemembers' Group Life Insurance (SGLI) coverage, you can now manage your SGLI coverage using the SGLI Online Enrollment System (SOES). SOES allows servicemembers with full-time SGLI coverage to make fast and easy changes to their life insurance coverage and beneficiary information at any time without completing a paper form or making a trip to their personnel office.

Understanding the importance of beneficiary designations

Designating a beneficiary is one of the most important parts of a life insurance policy. The reason for purchasing a life insurance policy is often to provide financial assistance to survivors. Therefore, it is crucial to carefully choose who will receive the death benefit from your policy.

A beneficiary is the person or entity that you legally designate to receive the benefits from your financial products, such as life insurance policies, retirement accounts, or investment accounts. When you pass away, the beneficiary will receive the payout or death benefit from your life insurance policy, providing them with financial protection. This payout is typically intended to support your loved ones, such as your spouse, children, or other family members, after your death.

It is important to keep your beneficiary designations up to date as your life changes. Life events such as marriage, the birth of a child, divorce, or the death of a loved one should trigger a review of your beneficiary information. By regularly reviewing your beneficiary designations, you can ensure that your benefits go to the intended recipients and that your wishes are carried out.

Additionally, beneficiary designations can help your loved ones avoid the probate process, which can be lengthy, complicated, and expensive. During probate, a court has to sort out your financial situation and determine how to distribute your assets. By designating beneficiaries, you can ensure a faster and more direct transfer of benefits to your chosen recipients.

In the context of military retired life insurance, such as Servicemembers' Group Life Insurance (SGLI), it is important to understand that only the policy owner or insured individual is authorized to designate and change beneficiaries. The owner can choose their beneficiaries and make changes as needed. For SGLI specifically, beneficiaries can be updated through the SGLI Online Enrollment System (SOES), which allows for fast and easy changes to beneficiary information.

How to change beneficiaries for Servicemembers' Group Life Insurance (SGLI)

Servicemembers' Group Life Insurance (SGLI) offers low-cost term coverage to eligible service members. If you meet the criteria, you will be automatically signed up for SGLI. After enrollment, you can change the level of coverage or even refuse coverage completely. You can also choose your beneficiaries and change them as needed.

To change your beneficiaries, you need to submit your changes online through the SGLI Online Enrollment System (SOES). Here are the steps to access SOES:

• Select "Manage my SGLI".
• Check your coverage and beneficiary information and make any necessary updates.
• Log in with your CAC or DS Logon as soon as you receive a notice that you can start using SOES.

You can access SOES through milConnect. If you are in the Public Health Service or have part-time SGLI coverage, you will need to use the SGLV 8286 form to make changes and submit the completed form to your branch of service personnel office.

It is important to keep your beneficiary information up to date to make it easier for your family members to file a claim and receive benefits quickly. You should review your beneficiary information at least once a year and after any major life events such as marriage, the birth of a child, or divorce.

Who to contact for Veterans' Group Life Insurance (VGLI)

Veterans' Group Life Insurance (VGLI) is a life insurance program that allows service members to convert their Servicemembers' Group Life Insurance (SGLI) coverage to term life insurance that is renewable every five years. The Department of Veterans Affairs oversees VGLI, but the Office of Servicemembers' Group Life Insurance (OSGLI) administers it.

If you have questions about VGLI, you can contact the OSGLI using the following details:

• Toll-free telephone: 1-800-419-1473
• Toll-free fax numbers:
• Death and accelerated benefits claims only: 1-877-832-4943
• All other fax inquiries: 1-800-236-6142
• E-mail:
• Death and accelerated benefits claims only: [email protected]
• All other inquiries: [email protected]
• General Correspondence: Office of Servicemembers' Group Life Insurance, PO Box 41618, Philadelphia, PA 19176-9913
• New VGLI Applications and VGLI Reinstatements: OSGLI PO Box 41618, Philadelphia, PA 19176-9913

You can also update your VGLI beneficiary information by accessing your policy online or by filling out and submitting the VGLI Beneficiary Designation/Change Form (SGLV 8721). You can fax your completed form to 1-800-236-6142 or mail it to: OSGLI, P.O. BOX 41618, Philadelphia, PA 19176-9913.

The process for other VA Life Insurance policies

If your VA Life Insurance policy number begins with V, RH, J, RS, K, or W, the fastest and easiest way to update your beneficiary is through the Online Policy Access website. After creating an online account and logging in, you can update your beneficiary online, and your update will be immediately sent to the relevant office to be made a part of your records.

Alternatively, you can download form 29-336, Designation of Beneficiary and Optional Settlement. You should then complete the form and mail it to: VARO&IC (B&O) P.O. BOX 8638 PHILADELPHIA, PA 19101.

If you are assisting a competent veteran with changing a beneficiary designation, the veteran should complete and sign form 29-336. If the veteran is unable to sign their name, they can make a mark in place of their signature, which must be witnessed by two disinterested parties who must also sign the form. The two witnesses cannot be beneficiaries. If the veteran is unable to sign or make their mark, send a letter explaining their condition.

If the veteran is incompetent, only a court-appointed guardian can change the beneficiary designation, and they must obtain a specific court order authorizing them to do so. The court-appointed guardian should complete form 29-336 and include a copy of the guardianship documents and the specific court order with the form.

What to do if assisting or changing the designation for a veteran

If you are assisting a competent veteran with changing a beneficiary designation, the veteran should complete and sign form 29-336, "Designation of Beneficiary and Optional Settlement". If the veteran is unable to sign their name, they can make a mark in place of their signature, which must be witnessed by two disinterested parties who also sign the form. These witnesses cannot be beneficiaries. If the veteran is unable to sign or make their mark, send a letter explaining the veteran's condition.

If the veteran is incompetent, only a court-appointed guardian can change the beneficiary designation. This guardian must also obtain a specific court order authorizing them to make the change. The guardian should complete form 29-336 and include a copy of the guardianship documents and the specific court order with the form. To become a court-appointed guardian and obtain a specific court order, contact your state court system.

It is important to keep beneficiary information up to date. This will make it easier for family members to file a claim and receive benefits quickly. Certain life events, such as marriage, the birth of a child, or divorce, should trigger a review of beneficiary information.

Frequently asked questions