I know this is not something people like to think about, but, beneficiaries of Military Members’ Government Life Insurance Policies have a significant benefit available to them. And…in my 27 years on Active Duty, I never heard of it. I hope that you (or anyone that you know) never have a need for this benefit. But, if you do, it could improve your future quality of life. Let’s take a look at specifically what the benefit is and how you can use it.
As stated in IRS Pub 590 (http://www.irs.gov/pub/irs-pdf/p590.pdf) if you receive a Military Death Gratuity or …Read More