Instant Loan Approval has arrived. The service is available to over 350,000 life insurance customers who have loan value in their policies, and to more than 42,000 Veterans with current loans. This modernized feature offers an advanced option for access to policy benefits.

The new Instant Loan Approval service streamlines and automates online processes that eliminate human intervention for providing decisions for loan requests.

This benefit offers Veterans with permanent insurance plans the option to borrow up to the reserve (cash) value of their policy less any indebtedness. The policy cannot be lapsed, and premiums must be paid or waived at least one year before a policy has loan value.

How it works

Instant Loan Approval includes basic verification requirements that a customer must meet in order to request a loan and receive an instant decision. Veterans must be an “Authenticated User” and be able to successfully log into the,“VA Insurance Online Policy Access” website.

Once logged in, Veterans can access the loan application page if they have available loan value on their policy and meet other basic security criteria. If all criteria are met, the Veteran will advance to the next screen and be prompted to enter the requested loan amount. The Veteran will submit the request and receive an instant decision on their loan request.

If the loan is approved instantly, the payment will be processed. On average, it takes two to five business days for a loan payment to be received.

If you don’t meet instant loan verification requirements

If the Veteran does not meet the verification requirements, they will still be able to submit a loan application online by downloading VA Form 29-1546, completing the application and saving it in the secure Insurance Document Upload tool.

Note: Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI) programs do not offer loans. Current Service-Disabled Veterans’ Insurance (S-DVI) customers may apply for Instant Loan Approval if all requirements for eligibility are met.

VA has provided life insurance for service members, Veterans and their families for more than 100 years. Life Insurance is designed to provide financial assistance for a variety of reasons, including income replacement, financial inheritance and end-of-life costs. The purpose of VA Insurance Service is to provide our nation’s Veterans, service members and military families with quality and effective insurance products and services. VA life insurance programs provide financial security for policyholders and their families that honor the risks involved with military service and reflect the benefits earned for the sacrifice of serving our country.

For more information on Instant Loan Approval, as well as other online tools and features, visit

Mychael Lee Askew is a strategic communications liaison with VBA’s Insurance Service.

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Published on Jun. 23, 2021

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One Comment

  1. Mark Anthony Lewis July 1, 2021 at 2:44 pm

    How do I get the life insurance for me and my family I’m a veteran and I need to get information on getting the life insurance.

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