Survivor Benefit Plan

When a military retiree dies, their retirement pay stops, leaving the surviving spouse without a substantial income source. If you are a retiree, you need to give serious thought to how you can protect your spouse from the hardships caused by the loss of your retirement pay. One option available to you is the Survivor Benefit Plan. The SBP is an insurance plan that will provide your surviving spouse with a monthly payment (annuity) to help make up for the loss of your retirement income. The plan is designed to protect your survivors against the risks of:
  • - Your early death
  • - Your survivor outliving the benefits
  - Inflation


Participants in the Uniformed Services Survivor Benefit Plan for retired military members now have a new landmark to put on their calendars.


Effective October 1, 2008, SBP participants who reach 70 years of age and have made 360 payments (30 years), will no longer have to pay premiums for continued SBP coverage and will be placed in "Paid-up SBP" status.


If you make no other valid election at the time of retirement, full basic SBP for spouse and children will take effect automatically. You may not reduce or decline spouse coverage without your spouse's written consent. You will have to have your spouses input in the decision and his or her signature is required. You may choose coverage for a former spouse or, if you have no spouse or children, you may be able to cover an "insurable interest" (such as, a business partner or parent).

Request Your "Complimentary" Federal Employee Benefit Analysis