Who is eligible for SBP?

You are covered under SBP if you die while on active duty, are married, or have dependent children and have completed 20 or more years of active service, at time of death.

What is the Survivor Benefit Plan?

The Survivor Benefit Plan (SBP) provides financial support to military spouses and/or children when a military member dies while on duty or after retirement. SBP provides eligible beneficiaries with a monthly payment known as an annuity. The recipient of an SBP annuity is referred to as the annuitant.

Does SBP offset Social Security?

Offset to SBP Annuity Because of Social Security Benefits. The offset is based on the member’s active military service after December 31, 1956. NOTE: SBP annuity is not reduced by social security offset if the Social Security Administration (SSA) determines that the annuitant is ineligible for benefits.

How much is the Survivor Benefit Plan?

SBP Costs (Premiums) The SBP premiums for spouse coverage are: 6.5% of your chosen base amount, or if less, 2.5% of the first $725.00 of the elected base amount (referred to hereafter as the “threshold amount”), plus 10% of the remaining base amount.

How long do survivor benefits last?

Generally, spouses and ex-spouses become eligible for survivor benefits at age 60 — 50 if they are disabled — provided they do not remarry before that age. These benefits are payable for life unless the spouse begins collecting a retirement benefit that is greater than the survivor benefit.

What happens to my SBP if my spouse dies first?

If a Former Spouse beneficiary dies prior to the Service retiree, the SBP Spouse beneficiary reverts back to the Service member. This is identical to the “spouse & children” option in costs and benefits, except that only children of the marriage to the former spouse are eligible beneficiaries.

How long does a spouse receive survivor benefits?

How are survivor benefits paid in the military?

The annuity which is based on a percentage of retired pay is called SBP and is paid to an eligible beneficiary. It pays your eligible survivors an inflation-adjusted monthly income. A military retiree pays premiums for SBP coverage upon retiring.

Are there any survivor benefits that do not include SBP?

For example, SBP does not have a lump sum benefit that some survivors may need to meet immediate expenses upon a member’s death. On the other hand, insurance and investments without SBP may be less than adequate. Even if they could duplicate SBP, investments may be volatile and rely on a degree of financial expertise many don’t have.

What can I do outside of the Survivor Benefit program?

Other insurance and investments are important in meeting needs outside the scope of SBP. For example, SBP does not have a lump sum benefit that some survivors may need to meet immediate expenses upon a member’s death. On the other hand, insurance and investments without SBP may be less than adequate.

Who is eligible for Social Security survivor benefits?

If you are working and paying into Social Security, some of those taxes you pay are for survivors benefits. Your spouse, children, and parents could be eligible for benefits based on your earnings. You may receive survivors benefits when a family member dies.