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What is traumatic injury protection coverage?

TSGLI (also known as Servicemembers Group Life Insurance Traumatic Injury Protection) pays service members who have a qualifying injury to help them with expenses connected to their recovery and rehabilitation.

Is tsgli taxable?

TSGLI provides a tax-free lump-sum payment as low as $25,000 - up to a maximum of $100,000. Financial counseling/planning services are available to TSGLI beneficiaries at no cost. Once a claim is approved, services must be requested within two years from date of TSGLI payment.

Is cashing out a life insurance policy taxable?

Cashing out your policy Youre able to withdraw up to the amount of the total premiums youve paid into the policy without paying taxes. But if you withdraw on any gains, such as dividends, you can expect them to be taxed as ordinary income.

How long does tsgli payment take?

The average processing and adjudication time for a claim is approximately 30 working/business days for initial claims and first appeals (reconsiderations), TSGLI claims that have to be seen at the Armys Review Panel are currently taking approximately 1 year to complete.

Is Veterans pension taxable?

It provides short-term financial assistance to severely injured Servicemembers and Veterans to assist them in their recovery from traumatic injuries. TSGLI is not only for combat injuries, but provides insurance coverage for injuries incurred on or off duty.

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Where do I find my SGLV?

For complete information regarding eligibility and coverage, please visit the SGLI page on the VA website. To view your current coverage, sign in and select Life Insurance from milConnects Benefits menu. If you have questions about your current coverage, please contact your Personnel Office.

Is Tsgli taxed?

TSGLI provides a tax-free lump-sum payment as low as $25,000 - up to a maximum of $100,000. Financial counseling/planning services are available to TSGLI beneficiaries at no cost.

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