Compare Life Insurance packages.  Your Serviceman’s Group Life Insurance (SGLI) will expire 120 days after your retirement date.  Veterans Group Life Insurance (VGLI) will be offered to you during your transition.  Historically it’s been more expensive than other insurance companies so check out the current rates.

It’s easier to get new insurance when you’re already covered, so you may want to purchase a policy before you leave the service.  Remember to submit your application for new insurance before your SGLI expires so you have no lapses in coverage.

If you’re single with no dependants, you don’t need life insurance unless you want to make someone very happy when you die!  This will be a savings for you not to have to pay premiums.

If you have dependants, you’ll want to be covered for at least an amount equal to your liabilities.  This is so your family can pay off all the bills and not lose any of your property.  Of course, the amount of coverage you select is your choice.  Please take the time to research various types of coverage and the cost of premiums so you and your family are comfortable.

Check for free comparison quotes from several companies delivered immediately online.  Also, check with any groups you may belong to like the Navy Reserve Association, MOAA and other professional associations or clubs.  They often offer insurance at low group rates as part of their membership benefits package.

Check out these resources:

Veteran’s Life Insurance Program

Insurance.com Provides fast, free quotes plus company comparisons.
Navy Reserve Association
MOAA

This is part of a complete step-by-step military retirement checklist. I’ll be posting weekly action steps here, so please subscribe over in the right-hand column so you’re sure to get each update.

Determine your retirement date and your last day in uniform.  You’ve already determined when you’ll be clear of all service obligations.  You’ve calculated when you’re eligible for pay raises that affect your retirement.

Officers must retire on the first of the month, enlisted on the last day of the month.

Now take a look at your leave status.  Do you want to take terminal leave or sell it back?  This is usually determined by what your follow-on plans are.  Do you want the time off with pay or do you want the cash?  I encourage you to do the calculations for payback.  The amount may surprise you.  And remember, you accumulate leave while you’re on leave.

Because you’re retiring, you also get an additional 20 working days of Permissive TDY if you retire INCONUS and 30 days if retiring OUTCONUS.  Verify with your Administration or Personnel Department how they interpret this instruction and how they will write your orders.

Take into consideration the time of year you’ll be leaving active duty.  If you’ll be moving from warm weather to cold…….do you want to that in February?   I made a move once from Chicago to Atlanta in February.  Let me tell you, watching the movers take my china hutch down an ice covered ramp in a white out blizzard was not my idea of a good time!  Or theirs!  Nor did I relish driving in that weather on unfamiliar roads.

Maybe the kids need to finish a school year.  Or your spouse has job or school considerations.  This is where it becomes important to have already discussed any other agendas with your family.  You have a unique opportunity being able to choose when you’ll transfer….so consider ALL the variables.

Starting from midnight the day prior to your chosen retirement date, count backward, using up leave days first, then PTDY days.  Remember to skip the weekends if you’re taking only working days for PDTY.  What does that make your real last day in uniform?

How does this date work with doing a turnover with your relief?  Do you or the boss need or want a turnover?  If your date is near your PRD, this might not be a big issue.  This may be an appropriate time to talk it over with leadership and let them know that you’re planning to retire.

Keep in mind that your last 30 days in uniform will NOT be the best time for a turnover!  You will not be thinking about turnovers or daily routine.

This is part of a complete step-by-step military retirement checklist. I’ll be posting weekly action steps here, so please subscribe over in the right-hand column so you’re sure to get each update.

I strongly encourage you to start a habit of taking time every day to care for your “self”.

How much time do you spend on you every day?

Do you exercise regularly?

Do you meditate, pray, or make time to sit quietly and think?

You could read personal development books or listen to motivational tapes.  A long, hot shower or bath can be a good time to relax and let your thoughts wander.

The military has been your life for so many years that when you leave it you will miss it, in spite of yourself.  You will experience a sort of grieving process.  Start taking care of yourself now.  However you do it, I urge you to spend a few minutes daily with activities that nourish your spirit and feed your soul.

Check out these resources:

Loving What Is – Four Questions That Can Change Your Life by Byron Katie, a revolutionary new way to solve problems

Nightingale-Conant THE World Leader in motivational, self-development courses

Dr. Paul Pearsall International author and speaker, some truly thought provoking books on the science of positive psychology.  (I can recommend “Toxic Success: How to Stop Striving and Start Thriving”)

This is part of a complete step-by-step military retirement checklist. I’ll be posting weekly action steps here, so please subscribe over in the right-hand column so you’re sure to get each update.