Va Life Insurance: Who Is Automatically Covered?

Life insurance is available to veterans, service members, and their spouses and dependent children through the US Department of Veterans Affairs (VA). The VA offers several life insurance programs, including the Servicemembers' Group Life Insurance (SGLI) program, which provides low-cost group term life insurance to service members, and the Veterans' Group Life Insurance (VGLI) program, which allows veterans to convert their SGLI to a civilian program after separation from service. Additionally, the VA offers the Veterans Affairs Life Insurance (VALife) program, which provides guaranteed acceptance whole life insurance of up to $40,000 to service-connected veterans aged 80 and under. The Family Servicemembers' Group Life Insurance (FSGLI) program insures spouses and dependent children of service members with SGLI coverage, while the Veterans' Mortgage Life Insurance (VMLI) program provides mortgage life insurance protection to disabled veterans who have been approved for a VA Specially Adapted Housing (SAH) grant.

Who is eligible 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. This program offers up to $40,000 in whole life insurance coverage in $10,000 increments.

To be eligible for VALife, you must 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 applied for VA disability compensation for a service-connected disability before you turned 81 and received a rating for that disability after turning 81. In this case, you must apply for VALife within 2 years of getting the notification of your disability rating.

Servicemembers' Group Life Insurance (SGLI) is a low-cost group term life insurance program for servicemembers. SGLI coverage is automatic for most active-duty servicemembers, Ready Reserve, and National Guard members scheduled to perform at least 12 periods of inactive training per year. It also covers members of the Commissioned Corps of the National Oceanic and Atmospheric Administration and the Public Health Service, cadets and midshipmen of the U.S. military academies, and ROTC members.

Veterans' Group Life Insurance (VGLI) allows veterans to convert their SGLI to a civilian program of lifetime renewable term coverage after separation from service. To be eligible for VGLI, veterans with full-time SGLI coverage must convert their SGLI to VGLI after separation from service.

Family Servicemembers' Group Life Insurance (FSGLI) insures spouses and children of servicemembers with SGLI coverage. Spousal coverage cannot exceed the servicemember's coverage, but dependent children are automatically covered at no charge.

Servicemembers' Group Life Insurance Traumatic Injury Protection (TSGLI) is an automatic feature of SGLI that provides payments to servicemembers who suffer losses, such as amputations, blindness, or paraplegia, due to traumatic injuries incurred during their service. All servicemembers insured by SGLI are automatically covered by TSGLI.

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 numerous benefits to eligible veterans, including:

Guaranteed Acceptance

VALife offers guaranteed acceptance to veterans who meet the eligibility requirements. There is no need to prove good health, and coverage can be maintained for life.

Low-Cost Coverage

VALife provides low-cost coverage to veterans with service-connected disabilities. The monthly or yearly premium depends on the age of the veteran and the desired coverage amount, with rates locked in for the duration of the policy.

Significant Coverage Amount

VALife offers whole life insurance coverage of up to $40,000, with the option to choose lesser amounts in $10,000 increments. This provides financial security and peace of mind for veterans and their loved ones.

Cash Value Accumulation

The cash value of the policy starts to accumulate two years after the application is approved, adding to the overall value of the policy over time.

Beneficiary Payouts

If the veteran passes away during the two-year waiting period, their beneficiaries will receive the total amount of premiums paid, plus interest. After the waiting period, beneficiaries will receive the full coverage amount.

Easy Application and Eligibility

VALife is available to veterans with a VA service-connected disability rating, even if the rating is 0%. There is no time limit to apply after receiving the disability rating, and the application process can be completed online.

How do I 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 low-cost coverage of up to $40,000 to veterans with service-connected disabilities.

Eligibility

If you are aged 80 or younger, you are eligible for VALife if you have a VA service-connected disability rating, regardless of the percentage of your rating. 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, 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 two years of getting your disability rating.

Applying for VALife

You can check your eligibility and apply for VALife online. When applying, you will need to submit your first premium payment. Your premium depends on your age when you apply and the amount of coverage you want. Your premium rate will not increase as long as you keep your VALife policy.

If more than six months have passed since your last birthday, you will be considered one year older when determining your premium rate. For example, if you are 59 years, six months, and one day old, you will pay the rate for a 60-year-old.

VALife does not offer premium waivers or loans.

Benefits

With VALife, you can receive up to $40,000 in whole life insurance coverage in $10,000 increments. Cash value starts to accumulate two years after your application is approved.

Your full life insurance coverage starts two years after you apply, as long as you pay the premiums during those two years. If you die during the two-year waiting period, your beneficiaries will receive the total amount you paid in premiums, plus interest. If you die after the two-year waiting period, your beneficiaries will receive the full coverage amount of your policy.

Contact

If you have any questions, you can call the VA Life Insurance Center at 800-669-8477 (TTY: 711). They are available from 8:30 a.m. to 6:00 p.m. ET.

How much does VA life insurance cost?

The cost of VA life insurance depends on the age of the applicant and the amount of coverage desired. The premium rate is locked in and will not increase for the duration of the policy. The premium must be paid monthly or annually, with the option to pay more for greater coverage.

For example, an 18-year-old veteran applying for $10,000 of coverage would pay a monthly premium of $10.90, while a 40-year-old veteran applying for the same amount of coverage would pay $22.00 per month. The cost of monthly premiums rises with age, with an 80-year-old veteran paying $127.50 for $10,000 of coverage.

Veterans aged 81 and above are only eligible for VALife in certain cases. For example, a 95-year-old veteran applying for $10,000 of coverage would pay a monthly premium of $442.00, while the same veteran applying for $40,000 of coverage would pay $1,768.00 per month.

Veterans Affairs Life Insurance (VALife) is a guaranteed acceptance whole life insurance program for service-connected veterans aged 80 and under. It offers coverage of up to $40,000 in $10,000 increments and starts two years after enrollment, provided that premiums are paid during that period.

Can I have other life insurance policies as well as VA life insurance?

Yes, you can have other life insurance policies in addition to VA life insurance. In fact, the VA offers a range of life insurance programs to meet the diverse needs of veterans, service members, and their families. Here is an overview of the different types of VA life insurance policies available:

Servicemembers' Group Life Insurance (SGLI)

SGLI is a low-cost group term life insurance program for servicemembers. It is automatically provided to most active-duty servicemembers, including those in the Ready Reserve and National Guard who meet certain criteria. SGLI coverage can be extended for up to two years if the servicemember is totally disabled at separation.

Veterans' Group Life Insurance (VGLI)

VGLI allows veterans to convert their SGLI coverage to a civilian program of lifetime renewable term coverage after separation from service. Servicemembers with full-time SGLI coverage are eligible to convert to VGLI.

Family Servicemembers' Group Life Insurance (FSGLI)

FSGLI provides term life insurance coverage for spouses and dependent children of servicemembers insured under SGLI. Spousal coverage cannot exceed the servicemember's coverage, but dependent children are automatically covered at no charge.

Servicemembers' Group Life Insurance Traumatic Injury Protection (TSGLI)

TSGLI is an automatic feature of SGLI that provides payments to servicemembers who suffer losses due to traumatic injuries that occur during their service. This includes losses such as amputations, blindness, and paraplegia. All servicemembers insured by SGLI are automatically covered by TSGLI.

Veterans Affairs Life Insurance (VALife)

VALife is a new guaranteed acceptance whole life insurance program for service-connected veterans aged 80 and under. It offers coverage of up to $40,000, with lesser amounts available in increments of $10,000. The elected coverage takes effect two years after enrollment as long as premiums are paid during that period.

Veterans' Mortgage Life Insurance (VMLI)

VMLI provides mortgage life insurance protection to disabled veterans who have been approved for a VA Specially Adapted Housing (SAH) grant. To be eligible, veterans must have received an SAH grant, have the title to the home, and have a mortgage on the home.

In addition to these VA life insurance options, you can also explore private life insurance plans offered by commercial insurers to supplement your coverage. It is important to carefully review the terms, conditions, and eligibility requirements of each policy to ensure you are adequately protected.

Frequently asked questions