Incorrect SGLI deduction could cost you thousands

[unhappycamper]

Incorrect SGLI deduction could cost you thousands
By David Hodge, Stars and Stripes
European edition,Sunday, December 6, 2009

RAF MILDENHALL, England — Servicemembers need to take a close look at their leave and earnings statement this month to make sure they are paying the correct premium for their Servicemembers’ Group Life Insurance policy.

Capt. Ameica Banks, the officer-in-charge of the 266th Financial Management Center at Kleber Kaserne in Kaiserslautern, Germany, said about a dozen servicemembers have come into her office in the last month with discrepancies.

Banks said the troops believed they had maximum coverage but were paying premiums for a lesser plan.

"Mistakes are rare," Banks explained. "If there is something wrong it could mean hundreds of thousands of dollars of difference. Be aware of what you are paying for."

Banks recommends that leaders make the LES part of counseling sessions with their subordinates.


Rest of article at: http://www.stripes.com/article.asp?section=104&article=66490