The maximum amount of SGLI coverage you may have is $400,000. You may elect to be insured for lesser amounts in increments of $50,000. If you choose to decline or reduce your SGLI coverage, you must complete and file a form SGLV 8286, Servicemembers' Group Life Insurance and Certificate, with your uniformed service. If you have the maximum amount of SGLI, you have the right to retain any other Government or private insurance. However, you may not have more than $400,000 of combined SGLI and VGLI coverage.