Get Dd 2891 2005-2025

As an SBP participant you have a one-year window to terminate SBP coverage between the 2nd and 3rd anniversary following the date you begin to receive retired pay.

When SBP premiums are not paid during a retiree's lifetime, it creates a debt which must be repaid from the SBP annuity a survivor receives. DFAS is now deducting SBP recurring monthly premiums from CRSC pay.

Deductions are to be forwarded to: Defense Finance and Accounting Service, DFAS-CL, SBP and RSFPP Remittance, P.O. Box 979013, St. Louis, MO 63197-9013.

SBP premiums are payable for a total of 30 years (360 months) and attainment of at least age 70: Premiums paid for any beneficiary category count toward paid-up status (spouse, child, former spouse, etc.). Periods during which there are no eligible beneficiaries, and therefore no premium payments, do not count.

These benefits are payable for life unless the spouse begins collecting a retirement benefit that is greater than the survivor benefit. Beneficiaries entitled to two types of Social Security payments receive the higher of the two amounts.

A member who elected SBP and has paid premiums for 30 years (360 months), and who is at least 70 years of age, is considered "paid-up". Although SBP coverage continues, no further premiums are required.

The Survivor Benefit Plan cost depends on the level of coverage you choose. SBP coverage is supplied at no cost while you are in active service. During your retirement, however, a monthly deduction is taken from your pay to pay for your SBP coverage. This can be no more than 6.5 percent of your gross retired pay.

The DD Form 2656-7 is used to establish the Survivor Benefit Plan after the passing of an active, reserve, or retired military service member. This checklist is designed for use by the spouse (widow or widower), eligible former spouse, or child of a deceased military member/retiree.