WASHINGTON – More than 1.2 million veterans nationwide are in line to receive $414 million in annual insurance dividends over the coming year, according to the Department of Veterans Affairs (VA).
The dividend payments from VA will be sent to an estimated 1,239,600 policyholders on the anniversary date of their policies. Sent automatically through different payment options, the specific dividend amount will vary based on the age of the veteran, the type of insurance, and the length of time the policy has been in force.
Dividends are paid each year to veterans holding certain government life insurance policies and who served between 1917 and 1956.
The dividends are drawn from the earnings on the trust fund into which veterans have paid insurance premiums over the years, and are linked to returns on investments in U.S. government securities.
World War II veterans comprise the largest group receiving 2006 insurance dividend payments. One million veterans holding National Service Life Insurance (“V”) policies are expected to receive total payments of $322.6 million.
Another 45,000 World War II era veterans with Veterans Reopened Insurance (“J”, “JR” and “JS”) policies will share a dividend of $11.4 million.
Over 186,000 Korean War era veterans who have maintained Veterans Special Life Insurance (“RS” and “W”) policies can expect to receive dividends totaling $79.1 million.
Dividends totaling $1.2 million will be paid to 8,600 veterans holding U.S. Government Life Insurance (“K”) policies, which are held by veterans who served between World War I and 1940.
VA administers a wide range of additional life insurance programs that provide comprehensive coverage and security for veterans and their families while not paying a direct annual dividend. They include special life insurance for disabled veterans, home mortgage life insurance coverage, and the widely utilized Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI) programs.
Veterans who have questions about their policy may call the VA Insurance toll-free number at 1-800-669-8477; by e-mail to VAinsurance@vba.va.gov, or on the Internet at www.insurance.va.gov.
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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.
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