Life Insurance for Veterans
Overview
Veterans who wish to may purchase insurance policies that provide payouts to designated beneficiaries upon death.
Pro Tip: SGLI converts to VGLI when you get out, but VGLI gets expensive as you age. Compare rates with private insurance while you're still healthy. Sometimes Uncle Sam's deal isn't the best deal.
Critical Note: The beneficiary listed in your policy overrides what you write in your will. Keep beneficiary designations current.
VA Life Insurance (VALife)
Offers coverage from $10,000 to $40,000 in $10,000 increments.
Key Points: - Policies require two years of premiums before activation - If death occurs before the two-year period: beneficiaries receive all paid premiums plus interest - Once enrolled, premiums remain fixed—they don't increase with age
Eligibility
Must have: - Service-connected condition (including 0% rating) - Be under 81 years old before applying - Exception: Those who applied for VA disability before turning 81 have two years from grant date to apply
Veterans' Group Life Insurance (VGLI)
Allows servicemembers to maintain coverage after military separation by continuing premium payments.
Eligibility
Qualify if you: - Had part-time SGLI with injury/disability disqualifying you from standard rates while on duty - Were within 1 year 120 days of active duty discharge (31+ days) - Are within 1 year 120 days of Reserve/Guard retirement or assignment to IRR/ING - Are within 1 year 120 days of Temporary Disability Retirement List (TDRL) placement
Coverage
$10,000 to $500,000 based on previous SGLI amount. Coverage increases by $25,000 every five years (up to $500,000) until age 60.
Accelerated Benefits for Terminally Ill
Up to 50% of face value in $5,000 increments available to those with physician-documented 9-month life expectancy.
Veterans' Mortgage Life Insurance (VMLI)
Provides mortgage protection for severely disabled veterans whose disabilities were service-connected or aggravated by service.
Coverage
Up to $200,000 paid directly to mortgage lender upon death.
Eligibility
Must meet all criteria: - Under 70 years old - Approved for Specially Adapted Housing (SAH) grant
Servicemembers' Group Life Insurance (SGLI)
Coverage for active duty servicemembers.
Traumatic Injury Protection (TSGLI)
Coverage for traumatic injuries.
Family Servicemembers' Group Life Insurance (FSGLI)
Coverage for family members of servicemembers.
Service-Disabled Veterans Insurance (S-DVI) [HISTORICAL]
Status: Discontinued; current enrollees grandfathered in.
Provided up to $10,000 coverage (increments of $1,000).
Waiver of Premiums: Qualified totally disabled veterans could receive up to $10,000 free coverage plus purchase up to $30,000 additional coverage. New applications no longer accepted.