What is VALife?
VA’s newest life insurance program, Veterans Affairs Life Insurance (VALife), increases access to life insurance for more service-connected Veterans than ever before.
VALife is a guaranteed acceptance whole life insurance product that launches on Jan. 1, 2023, for Veterans age 80 or under with any level of service-connected disability (0-100%). Veterans age 81 or over may qualify if they meet certain conditions.
Key features of VALife include:
- Coverage up to $40,000, available in $10,000 increments
- Competitive premiums
- No health questions or medical exam to enroll
- No deadline to apply if you are age 80 or under
- Convenient online application and enrollment
- Easy deductions from VA benefits (no cash out of pocket), and
- Cash value that builds over the life of the policy, after the first two years of enrollment
How much does VALife cost?
VALife premium rate charts are here.
VALife costs the same across all genders and backgrounds, and once enrolled, rates will never go up. In most cases, rates are competitive with, or better than, similar private sector guaranteed acceptance programs.
Rates will not increase for the life of the policy and do not change based on medical conditions. Premiums are based on a Veteran’s age upon enrollment and the coverage amount selected.
Can VALife premiums be waived?
VALife does not offer waiver of premiums.
Unlike Service-Disabled Veterans Life Insurance (S-DVI), by law, there are no circumstances under VALife where premiums can be waived.
What is the waiting period?
VALife has a two-year waiting period for the full-face coverage to take effect. This waiting period is a common feature of guaranteed acceptance whole life insurance programs. Veterans must pay monthly or annual premiums during this two-year waiting period. If the insured’s death occurs during these first two years, all premiums paid plus interest will be disbursed to the designated beneficiary. When death occurs more than two years after enrollment, the full face amount of the policy will be paid.
Learn more
You can learn more about VALife and sign up to receive updates through the quarterly newsletter here: https://www.benefits.va.gov/insurance/valife.asp.
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I read this VA life insurance I wanna ask because my husband is 82 years old 100 percent disable and it says 80 and below could apply ?
I think that a retired veteran with 20 years or more of service and service
connected shouldn’t have to pay anything for this insurance we have already pay the sacrifice we already paying for social security that comes out of our check now this we shouldn’t have to pay for social security it should be free for us.
Two problems with this new insurance program. 1. Premiums are higher than many standard life insurance programs. 2. Waiver of premiums benefit is not offered under this program. I would only recommend this program to someone who could not qualify for other more affordable life insurance programs. It pays to shop for your insurance and make a calculated decision.
We signed up on Jan 1, 2023. The process was very easy. Thank you VA!
How do you signed up for this new insurance?
The life insurance ? is the best I have ever seen. It is definitely worth the price of the premiums offered.
How to sign up for Disabled Vet life care nsurance??
I would like to see more details about VALIFE INS.
Why is it only offered to veterans who are eighty or older
It’s offered to veteran’s 80 and UNDER
are you still insured when reach 81 years?
do you lose insurance when you turn 80 years 0ld?
We need a VA Life Insurance policy that all veterans are eligible for. I have a heart condition, and can not get anymore life insurance. I have no service connected disability.
does not apply to widows???????????????
Looking to compare.
when can i get the new life ins??
Tried getting Life insurance for my husband but never got a response
What about over 80
you are out of luck???????????????????
Coverage is only available to Veterans over age 80 if they:
-Apply for a new service-connected condition prior to the age of 81,
-Receive a grant for the new service-connected condition after the age of 81, and
-Apply within two years of notification of the grant.
do you have an answer?