Servicemembers' Group Life Insurance (SGLI) is a low-cost program for active duty and Reserve soldiers. SGLI coverage is available in $10,000 increments to a maximum payout of $400,000. Your premium will cost you about 6 cents for every $1,000 of life insurance you want. That rate is for all soldiers and doesn't vary by age.
There is also Traumatic Servicemembers' Group Life Insurance (TSGLI) that will help out if an active duty soldier becomes severely injured. This program is an addition to your SGLI coverage. For an extra dollar on your premium payments, you will receive a one-time payment when severely injured. The payment amount depends on the injury received and is intended to help deal with unforeseen expenses and to otherwise help soldiers through the tough time.