scope:

GENERAL

Premium

The premium for Survivor Benefit Plan (SBP) coverage is based on the type of coverage (spouse and/or children, former spouse or former spouse and children, or natural person with an insurable interest) and the base amount, maximum or reduced, as elected by or on behalf of the member. The SBP premium increases at the same time and by the percentage as do increases for retired or retainer pay.

Premium Collection 

Members electing SBP coverage shall pay a premium for such coverage. Premiums are collected either through reduction of retired pay or direct remittance. 

Premiums Not Specified 

All premiums not specified in this chapter are calculated by the Department of Defense (DoD) Actuary using assumptions (as to mortality and economic conditions) approved by the DoD Board of Actuaries and the Director of Military Compensation.