WASHINGTON — 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 families of Veterans and service members will have the financial support they deserve after their loved ones pass away.
Veterans who are under age 60 and currently enrolled in VGLI will be able to purchase additional coverage in $25,000 increments up to $500,000. All active duty, guard, and reserve service members eligible for SGLI will automatically receive the increased coverage on March 1.
“All Veterans and service members deserve to know that when they pass away, their families will be taken care of,” said VA Secretary Denis McDonough. “This increase in coverage will help our country keep that promise, ensuring that the families of these heroes will get the financial support they need.”
VA currently serves nearly 6 million Veterans, service members, and their families with more than $1.2 trillion of insurance. Life insurance options include SGLI, which eligible service members are automatically signed up for while serving; VGLI, which Veterans can transition to from SGLI or apply for within 1 year and 120 days of leaving the service; VA Life, a new option that provides up to $40,000 of whole life insurance for all Veterans, age 80 or under, with service-connected disabilities rated from 0-100%; and more.
Under this increase, the SGLI premium rate will remain the same, meaning that service members will receive maximum coverage for $30 per month, plus $1 for Traumatic Injury Protection (TSGLI) coverage. Service members who separate from service with SGLI coverage at the new higher amount can convert their coverage to VGLI. Service members who do not wish to keep the increased SGLI coverage amount can elect a reduced coverage amount or decline coverage online through the SGLI Online Enrollment System (SOES) on milConnect. If coverage is reduced or declined by March 31, service members will not be charged for the increased coverage amount.
This increase in life insurance is a part of the Supporting Families of the Fallen Act. For more information about life insurance options, Veterans and servicemembers can visit VA’s life insurance portal.
###
Reporters and media outlets with questions or comments should contact the Office of Media Relations at vapublicaffairs@va.gov
Veterans with questions about their health care and benefits (including GI Bill). Questions, updates and documents can be submitted online.
Veterans can also use our chatbot to get information about VA benefits and services. The chatbot won’t connect you with a person, but it can show you where to go on VA.gov to find answers to some common questions.
Subscribe today to receive these news releases in your inbox.
More from the Press Room
News Releases
VA and DOD improve installation access process for Veterans and eligible caregivers for medical appointments, shopping, and certain morale, welfare, and recreation services.
News Releases
VA and and the U.S. Department of Housing and Urban Development, and the U.S. Interagency Council on Homelessness announced results of the 2024 Point-in-Time (PIT) Count, which show a record low in Veteran homelessness since measurement began in 2009 and a 7.5% decrease since 2023.
News Releases
VA is proposing to eliminate copayments for all VA telehealth services and establish a grant program to fund designated VA telehealth access points in non-VA facilities, with a focus on rural and medically underserved communities.
