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Show October 24, Survivor Benefits NE-FACT- S" Most people prefer not to talk about survivor benefits. However, a basic understanding of the subject is essential to ever y one of us , married or single, young or not so young . The survivor benefits for military members amount to a considerable sum of money. Every member has an obligation to know his entitlements. For military members who die while on active duty, survivor benefits fall into two categories-tho- se generally paid in a lump sum and those payable on a long-termonthly basis. The benefit most familiar to us is Serviceman's Group Life" Insurance (SGLI). For most members, SGLI is a $120,000 "term" life insurance policy. In a sense, the member "rents" coverage with term insurance--tha- t is, it does not build up cash value (savings) as a "whole life" insurance policy does. Term insurance-i-n this case SGU- - is designed to provide a lot of insurance for a small amount of money. With $20,000 in coverage for $3.40 per month, SGLI is a bargain. Not all members have $20,000 in coverage under SGLI. member may request less coverage or none at all. However, if you have not made such a specific request, you are covered for the full $2,000. The second lump-supayment is Death Gratuity Pay, which is six times your monthly basic pay up to a maximum of $3,000. This money-norma- lly paid by the Air Force within 24 hours-- is intended to defray the immediate expenses a family incurs upon the death of the member. Monthly payments to surviving dependents of a member fall into three categories. Payments under Social Security and the Survivor Benefits Plan will be dealt with separately in a future article. Here we will discuss Dependents' Indemnity Compensation (DIC) and Dependents' Educational Assistance (DEA) which are both paid through the Veterans Administration A m (VA.) DIC is a monthly benefit (based on the member's pay grade at the time of death) which the surviving spouse collects until the time that he or she eit her remarries or dies. DIC is payable to either the surviving wife or husband, and is not contingent upon whether he or she. was actually dependent upon the spouse. It is also payable to the surviving member of a service couple. Currently, the monthly rate of DIC, based on the pay grade of the member, is as follows: Full Time 12 plus Semseter Hours 34 2 Semester Hrs 9-- 13 9 $135 $203 $270 Page m' i ime Less than Time HILL TOP TIMES 1975 This represents a potential benefit of $9,720 (36 months x $270) for each family member, which is most significant when considering the high cost of education today. In addition to these monthly and lump sum benefits, the Air Force provides money for burial expenses ranging from $75 to $700 depending on the type of burial arrangements selected by I f V pWi ' CTV NEWARK I wlOk OK I.kD n "M SAVING OVgR -- ' PfKXlClO MwiweariAt . 1 1 the family. The only direct cost to a service member for all of the benefits is the $3.40 paid each month for SGLI Needless to say, comparable benefits under a commercial insurance policy would cost a great deal more. ZQeROSPACE (BUJIPANCE- - "vVWgN MO D& ETROLOGY ENTfK, NEWARK AF,OWI... AFIC'S AT7WA AfSSKW 'OUT PRE-- OF THIS WOAID Wr . (TWe AIB WHEf?E- Every service member has an obligation to understand and to educate his or her family in the matter of survivor benefits. A good way to start is to clip out this article, let your family members read it, and then file it with your other important papers. An even better way would be to visit the personal affairs office at your servicing consolidated base personnel office. Another beneficial program for information is the semi-annufamily services orientation course. XAFNS) 7QSr A U&AP TO virJ 7A InJOMB OF ) KNOW Vggg y J ANPOTHEVR POPA6HCtti AS THE ATOMIC LO:i.WArGR - lTtANP5 WE'D V0ETT Consider also the medical, commissary, exchange and other benefits survivors are entitled to and the relative value of military survivor benefits would be very clear. While we may not like to talk or think about death and survivor benefits, they are a fact of life. V. IN TIME- STAN DAfZD.. .ACCUAT,i T TO I MILLIONTH OP A SfcTONP... flc ornti or mwmiutwn al J f Jantzet t 1 DIC RATES (Monthly) $304 $315 $339 $356 $392 E-- 0-- 6 $441 E-- 6 0-- 7 $478 $523 $562 $615 E-- 7 0-- 1 0-- 2 0-- 3 0-- 4 0-- 5 0-- 8 0-- 9 0-1- 0 $241 $428 $255 $270 $270 $278 $284 $298 $315 $329 l E-- 2 E-- 3 E-- 4 E-- 5 E-- 8 E-- 9 W-- l $304 VV-- 2 $316 W-- 3 $326 $344 W-- 4 In additionto the basic DIC payable to the spouse, there is an additional $29 per month payable for each child. Payments for children do not stop at the death or remarriage of the surviving parent, but are payable until age 18. Dependents' Education Assistance (DEA) is a significant, but perhaps not well understood, benefit. The spouse and each child or a deceased member is entitled to 36 months of DEA for education above the high school level. The current monthly rates, based on course load are as follows : "5fegdl mmcoare f r; n i-V.- 7 y V Lure of the North Country Stealers mtMii sumv.i! WE'VE GOT ITTO LEND... UP TO $10,000 You re facing bigger money needs than ever before. And American Finance can help! With one your overdue and burlarger loan, you can pay-of- f densome bills or installment contractsand repay American Finance with one affordable monthly payment. II may be smarl fo borrow a little more than you need righl now so you II have etra cash on hand. Lel your American manager knowin person, by phone or by mail. r ;- m tfie Lincl of tlx midnight sini. 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