September is Life Insurance Awareness Month, a time for you and your family to reflect on whether you have the right coverage to secure your family’s financial future. VA life insurance programs provide benefits to service members and Veterans, helping you make informed decisions with options for a program that can fit your needs. Today, there is more coverage for Veterans and service members than ever before.
Whole life coverage: Veterans Affairs Life Insurance (VALife)
VALife offers guaranteed, acceptance, whole life insurance and is open to Veterans aged 80 and under, with service-connected disabilities (0-100%). VALife provides coverage to more service-connected Veterans than ever before, and provides these key features:
- Up to $40,000 in coverage, available in increments of $10,000 per Veteran
- No medical exam or health questions required for enrollment
- No time limit to apply
- Locked in premiums that do not increase
- Cash value that builds over the life of the policy
VALife offers an easy and convenient online application. Veterans can apply, receive an instant decision and manage most aspects of their VALife policy completely online.
VisitVALife online for more information.
Coverage for Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI)
SGLI offers eligible service members low-cost group term life insurance coverage up to $500,000. Service members who meet the eligibility criteria are automatically enrolled in SGLI. Family Servicemembers’ Group Life Insurance (FSGLI) offers coverage for the spouse and dependent children of service members covered under full-time SGLI.
VGLI allows separating service members to convert their SGLI coverage to renewable group term life insurance. Veterans have one year and 120 days from their separation date to apply for VGLI.
Life insurance coverage while serving and after separation is critical to protecting those who matter most and ensuring their financial future.
Conversion options to civilian policies
Veterans and military spouses can convert their SGLI, VGLI or FSGLI coverage into a private permanent life insurance policy without a medical exam. SGLI and FSGLI must be converted within 120 days of separation from service, and VGLI can be converted at any time as long as coverage remains active. This option is ideal for those seeking lifelong coverage or additional financial tools like cash value accumulation. For Veterans or military spouses seeking continued coverage or more robust financial planning tools, converting government sponsored coverage into a private policy can provide added security and flexibility.
Visit VALife for more information, including the list of participating companies.
VALife insurance programs are designed to support you through all the changes in life, from enlistment to retirement, so you can protect those who matter most. In addition to the life insurance programs mentioned above, there are several other insurance programs offered by VA to meet a diverse range of needs. You can learn more about these programs, eligibility requirements and how to apply online.
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interested in whole life insuance
I’m looking for insurance policy that covers both of us spouses. I’m retired.
How much it will cost
I am 83 years old with a 50% service connected disability. What life insurance no coverage do I qualify for?
Shop around for the best policy. When I took out the VGLI policy, I trusted that this was the best route to take. Now, after paying premiums that are twice the value of the policy, I am not sure that was a good idea. At this point in my live it would be foolish to stop paying the premiums. There should be a point where the policy is considered, paid in full.
Does this apply to veterans living abroad?
I am 100%T&P, Service connected and not to be evaluated PTSD since 1999, and unemployable since 1997. Searching what Life Insurance I can round up at 77yrs. of age for wife 68Yrs.old. Thanks.
Blessings,
Norm
I would like to check the price on VA life insurance for $10,000 coverage. If the price is good, I would purchase $40,000 in coverage.
I am 80 years old.
I retired in 1995. Am I eligible for any type of life insurance? I am on 100% disability
I tried getting more life insurance than $50,000 due to building a house and not wanting my daughter to be stuck with a mortgage. I was denied because of a medication I was prescribed by a psychiatrist at the VA. Not sure what my recourse is.
What would I Pay for 500,000 life insurance?
what is the difference between SGLI and FSGLI
I am 84 years old, do you know who would provide me with a similar VA Life insurance program?
90-98 I served.
No one said anything about this to me. That it even existed.
Good thing for email.
VA Life is a slap in the face to every veteran out there. Whoever came up with it and thought it was a good thing needs to be beat into a coma.
I retired literally right in the middle of the Covid 19 pandemic. I received very little to zero advice on any of these matters. Matter of fact, I had to do my own retirement paperwork and hope it was all done correctly. NO ONE said anything about how to convert my SGLI over to VGLI. NO ONE advised me of how expensive civilian life insurance is!!!! Now I’m stuck paying on two civilian policies to the tune of over $400 a month!!! By the time I realized the mistake I made it was too late! I had to beg DFAS to release me from the ridiculous fleecing called survivor benefit plan (that I had no idea how much it cost or what all it entailed). They finally did though. Thank goodness.
I would like to know what the life insurance guarantees and what the monthly cost is
Does my osgli life insurance stop at age 80?
VA is the only organization that comes close to offering this great insurance anywhere…with this type of coverage…dead stop
You’re out of your fucking mind.