Beginning March 1, VA is increasing the maximum amount of life insurance coverage available to Veterans and service members from $400,000 to $500,000 for Veterans’ Group Life Insurance (VGLI) and Servicemembers Group Life Insurance (SGLI). This increase in coverage reflects the current cost of living and helps ensure that the the families of Veterans and service members will have the financial support they deserve after their loved ones pass away.
On Jan. 1, 2023, the Department of Veterans Affairs will open enrollment for Veterans Affairs Life Insurance - the first new VA life insurance program for Veterans in more than 50 years - extending VALife access to millions of Veterans.
The Department of Veterans Affairs has paid out more than $6.7 million across 10,000 loans since mid-May 2021 through Instant Loan Approval, a feature that automates the loan approval process for Veterans.
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