For service members who entered uniformed service on or after March 1st, 1990, what is the monthly premium to provide an annuity to an eligible spouse?

Prepare for the Yeoman Chief Petty Officer Test. Use detailed flashcards and QandAs, each with hints and explanations. Ace your exam with confidence!

The correct answer is that the monthly premium to provide an annuity to an eligible spouse for service members who entered uniformed service on or after March 1st, 1990, is 6.5 percent of the base amount. This figure is established under the regulations governing the Survivor Benefit Plan (SBP), which provides financial support to eligible dependents in the event of the member's death.

Members who choose to participate in the SBP must pay a premium based on their selected coverage level, and 6.5 percent is the standard rate for those who entered service after the specified date. This is essential for ensuring that spouses receiving this annuity have a reliable source of income, providing financial security and peace of mind.

Understanding the SBP and its associated costs is crucial for service members when planning for their financial future and that of their families. The differing percentages provided in the other options reflect either different beneficiary scenarios or age criteria related to the service members or their spouses, but for the context specified in the question regarding those who began their service on or after March 1st, 1990, 6.5 percent is indeed the correct premium rate.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy