What is the Survivor Benefit Plan?

Military Law

The Survivor Benefit Plan will provide for payments for a spouse or former spouse after the death of the serviceperson. The election for the Survivor Benefit Plan in most cases must be made at the time of retirement. A portion of the pension will be withheld and used to pay for survivor benefits. This may be a costly way to assure the spouse’s or former spouse’s financial security after the death of the serviceperson. In some cases, life insurance or other alternatives may be a better option.