Life Insurance Options After Military Service

Veterans Affairs Life Insurance (VALife) is a guaranteed acceptance whole life insurance program for service-connected veterans aged 80 or younger. It provides up to $40,000 in coverage, with lower amounts available in $10,000 increments. There is no time limit to apply for VALife after receiving a disability rating, but full coverage takes effect two years after enrollment, as long as premiums are paid during the two-year period. Veterans with a service-connected disability can also apply for Service-Disabled Veterans Life Insurance (S-DVI), which provides low-cost coverage. However, S-DVI stopped accepting new applications after December 31, 2022.

Who is eligible for VA life insurance?

Veterans Affairs Life Insurance (VALife) is a guaranteed acceptance whole life insurance program for veterans with service-connected disabilities.

Eligibility for VALife

If you are aged 80 or younger, you are eligible for VALife if you have a VA service-connected disability rating, even if your rating is 0%. There is no time limit to apply after getting your disability rating.

If you are aged 81 or older, you may be eligible for VALife if:

• Before you turned 81, you applied for VA disability compensation for a service-connected disability.
• After you turned 81, you received a rating for that same disability.
• You apply for VALife within 2 years of getting notification of your disability rating.

Benefits of VALife

• Up to $40,000 in whole life insurance coverage (in $10,000 increments).
• Cash value that starts to accumulate 2 years after your application is approved.
• Premiums that never increase.
• No loans are offered.
• Coverage for the rest of your life.

Applying for VALife

You can apply for VALife online and receive an immediate decision. If your application is approved, you will receive an application confirmation and can print out a copy of your policy pages within 4-5 days by logging into your online account.

Premiums for VALife

Your premium depends on your age when you apply and the amount of coverage you want. If more than 6 months have passed since your last birthday, you will be considered 1 year older when determining your premium rate. For example, if you are 59 years and 6 months old, you will pay the rate for a 60-year-old.

Cancelling VALife

If you cancel your VALife policy within 31 days of enrollment, you will receive a full refund of the premiums paid. If you cancel after 2 years of enrollment, you can receive the cash value of your policy or use it for extended term insurance. If you cancel within the 2-year waiting period, there will be no return of funds unless canceled within the first 31 days.

Other VA Life Insurance Options

In addition to VALife, the VA also offers the following life insurance options:

• Veterans' Group Life Insurance (VGLI): Allows veterans to convert their Servicemembers' Group Life Insurance (SGLI) to a civilian program of lifetime renewable term coverage after separation from service.
• Servicemembers' Group Life Insurance (SGLI): A low-cost group term life insurance program for servicemembers. Coverage can be extended for up to 2 years if the servicemember is totally disabled at separation.
• Family Servicemembers' Group Life Insurance (FSGLI): Insures spouses and children of servicemembers with SGLI coverage. Dependent children are automatically covered at no charge.
• Servicemembers' Group Life Insurance Traumatic Injury Protection (TSGLI): An automatic feature of SGLI that provides payments to servicemembers who suffer losses, such as amputations, blindness, or paraplegia, due to traumatic injuries that occur in service.
• Veterans' Mortgage Life Insurance (VMLI): Provides mortgage life insurance protection to disabled veterans who have been approved for a VA Specially Adapted Housing (SAH) grant.

Eligibility for Other VA Life Insurance Options

Eligibility for these other VA life insurance options varies depending on the specific program. For example, SGLI coverage is automatic for most active-duty servicemembers, while VGLI is only available to servicemembers with full-time SGLI coverage who separate from service. It is important to review the specific eligibility requirements for each program to determine if you qualify.

How to apply for VA life insurance?

Veterans Affairs Life Insurance (VALife) is a guaranteed acceptance whole life insurance program for service-connected veterans aged 80 and under. VALife provides up to $40,000 in coverage, with the option to choose lesser coverage in increments of $10,000.

Eligibility

If you are aged 80 or younger, you are eligible for VALife if you have a VA service-connected disability rating, even if your rating is 0%. There is no time limit to apply after getting your disability rating.

If you are aged 81 or older, you may still be eligible for VALife if you meet the following requirements:

• Before turning 81 years old, you applied for VA disability compensation for a service-connected disability.
• After turning 81, you received a rating for that same disability.
• You apply for VALife within 2 years of getting notification of your disability rating.

How to Apply

You can check your eligibility and apply for VALife online. When applying, you will need to submit your first premium payment. The premium amount depends on your age when you apply and the amount of coverage you want.

If you are visually impaired, you can complete the 508-compliant online application. If you are an incompetent veteran, an authorized power of attorney, legal guardian, or VA Fiduciary may apply on your behalf.

You can also call the VA Insurance Center at 1-800-669-8477 for assistance with applying.

What are the benefits of VA life insurance?

Veterans Affairs Life Insurance (VALife) is a guaranteed acceptance whole life insurance program for service-connected veterans aged 80 and under. VALife offers several benefits to eligible veterans, including:

• Financial security: VALife provides financial peace of mind for veterans and their families. In the event of the veteran's death, beneficiaries will receive the full coverage amount as specified in the policy. This can help ensure that loved ones are taken care of even after the veteran's passing.
• Low-cost coverage: VALife offers low-cost insurance coverage to veterans with service-connected disabilities. The premiums are locked in at the rate you pay when you enroll, and there is no increase in premiums over time. This makes VALife an affordable option for veterans who might otherwise struggle to obtain life insurance coverage.
• No medical underwriting: Unlike traditional life insurance policies, VALife does not require medical underwriting. This means that veterans do not need to undergo health examinations or provide proof of good health to be eligible for coverage. Acceptance is guaranteed as long as the eligibility requirements are met.
• Up to $40,000 in coverage: VALife offers a maximum coverage of $40,000, with the option to choose lesser coverage in increments of $10,000. This flexibility allows veterans to select a coverage amount that aligns with their needs and budget.
• Cash value accumulation: VALife policies begin to accumulate cash value two years after approval. This cash value can be accessed by the policyholder or left to grow over time. It is important to note that the cash value is typically less than the amount of premiums paid.
• No time limit to apply: There is no time limit for eligible veterans to apply for VALife after receiving their disability rating. This means that veterans can apply for coverage at any time, regardless of how long it has been since their disability rating was assigned.
• Option to hold multiple policies: VALife policyholders can also hold other commercial life insurance policies or additional VA life insurance policies, such as Veterans' Group Life Insurance or Veterans' Mortgage Life Insurance. This allows veterans to customize their coverage and ensure they have adequate financial protection for their loved ones.

How to manage your VA life insurance policy?

Veterans Affairs Life Insurance (VALife) is a guaranteed acceptance whole life insurance program for service-connected veterans aged 80 and under. Here are some ways to manage your VALife policy:

Accessing your policy

You can access your VALife policy through the VA life insurance portal. Once you have access, you can download and print a copy of your policy.

Checking your policy's status

It is important to periodically check your policy's status to ensure it is up to date. This can be done through the VA life insurance portal.

Paying your premium

You can pay your premium, or the amount you pay each month or year to keep your coverage, through the VA life insurance portal. You can also sign up to pay your premium automatically from your bank account.

Updating your beneficiaries

It is important to keep the information up to date about who you want to receive your insurance proceeds. This will make it easier for your family members to file a claim in their time of need. You can update your beneficiaries by completing VA Form 29-336, Designation of Beneficiary – Government Life Insurance. You can upload the signed form using the secure document upload portal.

Understanding your plan and renewal options

Depending on the type of plan you have, different renewal options may be available. You can learn more about your plan and renewal options through the VA life insurance portal.

Getting assistance

If you need assistance with your VALife policy, you can contact your local Veteran Service Organization (VSO) or county/state Veteran Affairs Office. You can also call the VA Insurance Center at 1-800-669-8477.

How to file a claim for VA life insurance?

To file a claim for VA life insurance, the Veteran's beneficiaries will need to fill out and submit a Claim for One Sum Payment (VA Form 29-4125e). This can be done online through DocuSign, or the form can be uploaded online or sent by mail.

The following information is required:

• VA Form 29-4125e, Claim for One Sum Payment, signed by the principal beneficiary
• Death certificate of the insured Veteran showing the date and cause of death (this can be attached to the electronic claim form)

If the Veteran has a contingent beneficiary, the following is also required:

• VA Form 29-4125e, Claim for One Sum Payment, signed by the contingent beneficiary
• Death certificate(s) of all principal beneficiary(ies) showing the date and cause of death (this can be attached to the electronic claim form)

If the claim is being made by a representative of the Veteran's estate, the following is also required:

• Death certificate of the insured Veteran showing the date and cause of death (this can be attached to the electronic claim form)
• VA Form 29-4125e, Claim for One Sum Payment, signed by the executor or administrator of the estate
• Letters testamentary, letters of administration, or a court order of distribution (this can be attached to the electronic claim form)
• VA Form 29-541e, Certificate Showing Residence and Heirs of Deceased Veteran and a written statement that there will be no administration of the estate

If the beneficiary is a minor or incompetent, the following is required:

• VA Form 29-4125, Claim for One Sum Payment, signed by the next of kin, personal representative (guardian, custodian, etc.) or logical person to receive payment for the minor or incompetent beneficiary
• Letters of guardianship, conservatorship, etc. (if any) and address of minor or incompetent beneficiary
• Death certificate of the insured Veteran showing the date and cause of death

There are three ways to send the claim form and documents to the Insurance Center:

• File a claim electronically online. This is the fastest and most secure way to send your claim.
• Upload your documents using a secure web page. This is also a fast and secure way to send your claim.
• Mail your documents to the following address: Department of Veterans Affairs Insurance Center, P.O. Box 7208, Philadelphia, Pennsylvania 19101

Please note that original copies of death certificates are not required.

Frequently asked questions