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Can I Cancel SBP After Military Retirement?
Retirees have the option to cancel the Survivor Benefit Plan (SBP) within the three-year window after military retirement. The SBP is a form of life insurance that pays out a portion (55%) of the member's retirement pay each month until the survivor either passes away or is no longer eligible to receive the payments. It is important to note that after the 36-month mark, the SBP cannot be canceled.
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