KEY TAKEAWAYS SBP and term life insurance solve fundamentally different problems. SBP replaces pension income your spouse loses when you die. Term life provides a lump sum your family can deploy however they need. Most military retirees need both — not one or the other. SBP costs 6.5% of your elected base amount, paid pre-tax from retired pay, until you reach age 70 AND have … [Read more...] about Term Life Insurance vs. the Survivor Benefit Plan 2026: Which Is Right for Your Family?