Survivor Benefits Premium Worksheet
This worksheet will assist you in estimating the monthly premium (cost) for your SBP coverage for spouse/former spouse and/or children.
Spouse and/or Former Spouse SBP Coverage
Instructions |
Example |
Enter your figures here |
Determine your base amount |
$2,000.00 |
|
Multiply base by 6.5% |
($2,000.00 * 6.5%) |
|
Equals monthly cost |
$130.00 |
|
Spouse/Former Spouse and Children Coverage
The cost for spouse/former spouse and children coverage is based on your age, the age of your spouse/former spouse and the age of your youngest child from the marriage. The cost factors used for determining children coverage may be different for your situation. The factors used in this work sheet will allow you to estimate your cost. Contact DFAS or personnel counselor for an exact cost for your situation.
The cost factor for this worksheet (.00017) is based on the following data:
Retiree: Age 43
Spouse: Age 41
Youngest Child: Age 10
Instructions |
Example |
Enter your figures here |
Determine your base amount |
$2,000.00 |
|
Multiply base by 6.5% |
($2,000.00 * 6.5%) |
|
Equals spouse coverage cost |
$130.00 |
|
Cost factor |
.00017 |
|
Multiply base by cost factor |
($2,000 * .00017) |
|
Equals children coverage |
$.34 |
|
Add spouse and children coverage costs |
$130.00 + $ .34 |
|
Equals monthly cost |
$130.34 |
|
Child-Only Coverage
The cost for children-only coverage is based on your age and the age of your youngest child. It covers all eligible children. The cost factor used in this worksheet (.0024) is based on the following data:
Retiree: Age 43
Youngest child: Age 10
Instructions |
Example |
Enter your figures here |
Determine your base amount |
$2,000.00 |
|
Cost factor |
.0024 |
|
Multiply base by cost factor |
($2,000.00 * .0024) |
|
Equals monthly cost |
$4.80 |
|
|