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Government Personnel Mutual Life Insurance Company
Marketed to Federal Government Employees
The Government Personnel Mutual Life Insurance Company (GPM Life) markets its products to four specific groups; active duty military personnel and their families, federal civil services employees and their families, retired military members and families, and to select civilian families. It has long focused on the unique needs of the military family, especially as that family transitions to the civilian world. Its products help military personnel protect their families in case of death during service. There also are group term life products available at separation from the military, and life insurance alternatives to the Survivor Benefit Plan (SBP). GPM Life is a privately owned company with total assets of $712 million, and net life insurance of $18 billion. GPM Life policies are not available in all states for all ages.
GPM Life Insurance Company Products
The GPM Life Insurance Company offers a general term insurance plan. It is designed to be used for final expenses, mortgage cancellation, education expenses, child care needs, spouse income, or charitable bequests. Its features are below:
- There are term options of 10, 15, 20, and 30 years.
- Death benefits are level to age 95
- Premiums are payable to age 95
- Renewable annually after the guaranteed period
- There are preferred rates for non-tobacco users, preferred and standard rates for tobacco users.
- Optional riders are available, including a waiver of premium benefit, a dependent child benefit, a conversion extension option, and a Caring for Today (or terminal illness) benefit
- Minimum face amount of coverage is $50,000.
Government Personnel Mutual Life Insurance Ratings
A.M. Best: A-
Standard and Poor’s: Api
The financial strength of a company and potential for prolonged survival are represented by the above ratings.
Government Personnel Mutual Life Insurance Company Information
2211 N.E. Loop 410
San Antonio, TX 78217
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