Enrollment is open for VA’s newest life insurance program. VALife offers guaranteed acceptance whole life insurance to Veterans age 80 or under with any level of service-connected disability (0-100%). Veterans 81 or older may qualify if they meet certain criteria and apply within a certain timeframe.
Key features of VALife include:
- Coverage up to $40,000, available in $10,000 increments
- No health questions or medical exam to enroll
- No deadline to apply if you are age 80 or under
- Convenient online application and enrollment, and
- Cash value that builds over the life of the policy, after the first two years of enrollment
VALife opens life insurance coverage to more service-connected Veterans than ever before
VA’s previous life insurance program for service-connected Veterans—Service-Disabled Veterans Life Insurance (S-DVI)—had a two-year time limit to apply and health requirements for enrollment. As a guaranteed acceptance whole life insurance program, VALife eliminates the time limit to apply and does not ask health questions to enroll. In addition, VALife increases the coverage amount available to service-connected Veterans. VALife offers a maximum of $40,000 while S-DVI offered up to $10,000 in basic coverage.
VALife premium rates are the same for men and women, not based on medical conditions, and will not increase over the life of the policy. Premiums are based on a Veteran’s age upon enrollment and the coverage amount selected. The full table of monthly VALife premium rates can be found at https://www.va.gov/life-insurance/options-eligibility/valife/.
In most cases, VALife premium rates are competitive with, or better than, similar private sector guaranteed acceptance programs. Unlike S-DVI, VALife does not offer waiver of premiums.
You can apply, receive an instant decision, and manage aspects of your VALife policy online at https://www.va.gov/life-insurance/options-eligibility/valife/.
Learn more about the VALife program and its impact for millions of Veterans here: https://www.va.gov/opa/pressrel/pressrelease.cfm?id=5844.
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