Survivor Benefit Plan (SBP)

The Survivor Benefit Plan (SBP) is a Federal program that provides ongoing income to a military retiree’s chosen beneficiaries, typically during their lifetime, after the retiree’s death. It functions like an annuity, where retirees pay premiums during their service or retirement, ensuring their spouse or designated beneficiaries receive a monthly benefit if they pass away. The goal is to help the survivor maintain financial stability when the retiree is no longer there. The plan can be customized based on coverage needs and cost considerations, offering peace of mind for the retiree and their family.