What is required to decline participation in the Survivor Benefit Plan (SBP)?

To decline participation in the Survivor Benefit Plan (SBP), a spousal concurrence statement is required. This ensures that the service member's spouse is aware of and agrees to the decision to forgo coverage under the SBP. The purpose of this requirement is to protect the interests of the spouse, as the SBP is designed to provide financial support to surviving family members in the event of the service member's death. By obtaining spousal concurrence, the military ensures that the spouse has given informed consent regarding their financial situation in the event of such an unfortunate occurrence.

In addition to this, the other options do not fulfill the necessary criteria for declining SBP participation. A signed letter from the member alone does not address the spousal agreement necessary under the program. Approval from the commanding officer does not play a role in individual choices regarding benefits like SBP. A financial waiver form is irrelevant in this context, as it pertains to other financial obligations rather than the specific SBP election process. Thus, the spousal concurrence statement is essential for compliance with the regulations governing the Survivor Benefit Plan.