VA Whole life insurance: Protecting those who matter most

VA is proud to be a trusted life insurance provider, offering financial security and peace of mind to Veterans, service members and their families. 

Whole life insurance provides funds to cover expenses after your passing, such as funeral costs, income replacement for loved ones or paying off outstanding debts. With the right whole life policy, you can ensure that those who matter most are protected.

VA offers life insurance options designed to meet the needs of our Nation’s Veterans, service members and military families with programs like Servicemembers’ Group Life Insurance (SGLI), Family Servicemembers’ Group Life Insurance (FSGLI), Veterans’ Group Life Insurance (VGLI) and VA’s newest offering—Veterans Affairs Life Insurance (VALife).

Understanding whole life insurance

Whole life insurance policies last the entire life of the insured as long as premiums are paid, and they typically have lower coverage amounts at higher premium rates because they build cash value. Premium rates are fixed for the life of the policy and will generally not increase. Premium rates are lower the younger you are.

VA’s conversion options

Conversion is a process that allows you to transfer your existing group coverage to an individual policy without the need to provide evidence of good health. The SGLI, FSGLI and VGLI programs each offer an option to convert to an individual policy with one of ten participating life insurance companies.

For service members and military families

Active-duty, National Guard and Reserve service members are automatically eligible to be covered under Servicemembers’ Group Life Insurance (SGLI), which offers up to $500,000 in low-cost term life insurance coverage. Within 120 days from separation, members can convert from the SGLI group coverage to a permanent plan, such as whole life, with a private insurance company.

Spouses of service members covered by SGLI can also receive coverage under Family Servicemembers’ Group Life Insurance (FSGLI). Spouses can receive coverage up to $100,000, with a premium paid by the service member. Within 120 days from certain events (e.g., date the service member separates from service), spouses can convert from FSGLI group coverage to a permanent plan, such as whole life, with a private insurance company.

For Veterans

Veterans can choose to convert their SGLI term life insurance coverage after separation from service to Veterans’ Group Life Insurance (VGLI) , which offers term life coverage equal to the amount held under SGLI. Veterans must apply for VGLI within one year and 120 days from their date of separation, and if they apply within 240 days following separation, they do not have to answer any health questions. Once insured with VGLI, Veterans can convert to a permanent plan, such as whole life, at any time.

Veterans may also choose whole life insurance coverage through VA’s newest life insurance program—Veterans Affairs Life Insurance (VALife)—which offers guaranteed acceptance whole life insurance to Veterans age 80 or under with any level of service-connected disability (0-100%) and no time limit to apply. VALife offers up to $40,000 in coverage, has no health questions for enrollment, is fully automated online with instant decisions, has competitive premiums that will never increase for the life of the policy, and offers cash value that builds over the life of the policy after the first two years of enrollment.

Learn more

To learn more about these programs and how to convert your existing coverage, visit va.gov/life-insurance and the conversion brochure.