Try Navy Mutual for term life. They don't have an aviation clause, meaning aircraft accidents are covered and they don't charge more.

As for SBP, the wife and I elected to do the child only option. I'm a 15 yr O-4 TERA retiree, so my payments are much lower and don't really provide a livable amount in case I die. The child only is like $10/month, so won't be breaking the bank. Financially, it does make sense in the short term because my wife would get many payments with little invested. We've committed to investing the same amount ($140/month) in a mutual fund. Since I don't expect to die before 70, this will give us (her) a better nest egg than the same payment for 30 years and only collecting later in life. This is on top of normal Roth IRAs and my term insurance, which is $80/month until age 67 for me. The term will provide way better than SBP could dream to cover in my case.

Of course, the math for each situation is different. In cases where members would have a difficult time finding affordable insurance due to health and/or family history, both SBP and VGLI start to look better. As a healthy 37 yo, it didn't seem so to me.