Life Insurance For Disabled Veterans: What The Va Offers

The Department of Veterans Affairs offers life insurance for disabled veterans through the VALife program. VALife is a guaranteed acceptance whole life insurance program for veterans with service-connected disabilities. It provides up to $40,000 in coverage, available in $10,000 increments, and has a cash value that builds over time. Veterans aged 80 or younger with any level of service-connected disability are eligible for VALife, while those aged 81 or older may also apply within two years of receiving a new service-connected disability rating.

VALife: A new guaranteed acceptance whole life insurance program for service-connected veterans aged 80 and under

VALife is a new guaranteed acceptance whole life insurance program for service-connected veterans aged 80 and under. It provides low-cost coverage to veterans with service-connected disabilities.

To be eligible for VALife, you must have a VA service-connected disability rating and be aged 80 or younger. There is no time limit to apply after getting your disability rating. If you are aged 81 or older, you may still be eligible 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.

VALife offers up to $40,000 in whole life insurance coverage, available in $10,000 increments. The coverage starts 2 years after you apply, and you must pay the premiums during those 2 years. The premium amount depends on your age when you apply and the amount of coverage you want. Your premium rate will never increase as long as you keep your VALife policy.

VALife also offers a cash value that starts to accumulate 2 years after your application is approved. It is important to note that VALife does not offer loans or cover spouses or dependents of eligible veterans, and there is no premium waiver option.

If you are a service-connected veteran aged 80 or under, VALife can provide you with financial security and peace of mind. You can check your eligibility and apply online to receive these valuable benefits.

Service-Disabled Veterans Insurance (S-DVI): Low-cost coverage for eligible service members

Service-Disabled Veterans Life Insurance (S-DVI) is a program that provides low-cost coverage to eligible service members. This program is no longer accepting new applications as of December 31, 2022, but existing policyholders can retain their coverage.

The premium, or the amount paid for S-DVI coverage, depends on the amount of insurance, the coverage plan, and whether payments are made monthly or annually. In certain cases, veterans who are totally disabled may be eligible for a premium waiver for the basic S-DVI policy. However, supplemental S-DVI coverage requires premium payments even with a waiver for the basic policy.

For those with S-DVI coverage who wish to transition to the new Veterans Affairs Life Insurance (VALife) program, there are two options:

• Apply for VALife by December 31, 2025: During the 2-year waiting period for VALife benefits, you can retain your S-DVI coverage, including any premium waivers. Once full VALife coverage starts, your S-DVI policy will end, and you will need to pay premiums for both policies during the waiting period.
• Apply for VALife on or after January 1, 2026: Your S-DVI policy will end on the day your VALife application is approved, and you will only need to pay VALife premiums during the 2-year waiting period. However, you will not have full coverage during this time.

It is important to note that VALife does not offer premium waivers, so if you have a waiver for S-DVI premiums, it will not transfer to VALife.

Veterans' Mortgage Life Insurance (VMLI): Mortgage life insurance protection for disabled veterans with a VA Specially Adapted Housing grant

Veterans Mortgage Life Insurance (VMLI) is a type of mortgage life insurance protection offered by the US Department of Veterans Affairs. This insurance is available to veterans with severe service-connected disabilities who have received a Specially Adapted Housing (SAH) grant and have adapted their home to meet their needs.

VMLI provides up to $200,000 in mortgage life insurance protection to eligible veterans. This insurance helps protect their families by paying off the remaining balance on their mortgage in the event of their death. It is important to note that VMLI does not cover spouses or dependents of eligible veterans, and there is no premium waiver option available by law.

To be eligible for VMLI, veterans must meet the following criteria:

• Have a severe service-connected disability
• Have received a Specially Adapted Housing (SAH) grant from the VA
• Have title to the home
• Have a mortgage on the home

The application process for VMLI involves filling out and submitting the VA Form 29-8636, Application for Veterans' Mortgage Life Insurance. This form can be found on the Department of Veterans Affairs website or by contacting the VA directly.

It is worth noting that the VA also offers other life insurance programs, such as Service-Disabled Veterans Life Insurance (S-DVI) and Veterans Affairs Life Insurance (VALife). S-DVI provides low-cost coverage to eligible service members, while VALife offers guaranteed acceptance whole life insurance of up to $40,000 to veterans with service-connected disabilities aged 80 and under.

Veterans' Group Life Insurance (VGLI): Allows veterans to convert their SGLI to a civilian program

Veterans Group Life Insurance (VGLI) is a program that allows service members to convert their Servicemembers' Group Life Insurance (SGLI) coverage to term life insurance that can be renewed every five years. Members with full-time SGLI coverage are eligible for VGLI when they leave the service.

To be eligible for VGLI, you must meet at least one of the following requirements:

• You had part-time Servicemembers' Group Life Insurance (SGLI) as a member of the National Guard or Reserve, and you suffered an injury or disability while on duty—including direct travel to and from duty—that disqualified you for standard premium insurance rates.
• You had SGLI while you were in the military and you’re within 1 year and 120 days of being released from an active-duty period of 31 or more days.
• You’re within 1 year and 120 days of retiring or being released from the Ready Reserve or National Guard.
• You’re within 1 year and 120 days of assignment to the Individual Ready Reserve (IRR) of a branch of service, or to the Inactive National Guard (ING). This includes members of the United States Public Health Service Inactive Reserve Corps (IRC).
• You’re within 1 year and 120 days of being put on the Temporary Disability Retirement List (TDRL).

If you meet the above criteria, you can apply for VGLI within 1 year and 120 days of leaving the military. If you apply within 240 days of leaving the military, you won't need to prove you're in good health. However, if you apply after the 240-day period, you will need to submit evidence of good health.

You can apply for VGLI in one of two ways:

• Apply through the Office of Servicemembers' Group Life Insurance (OSGLI), using the Prudential website.
• Apply by mail or fax. Fill out the Application for Veterans' Group Life Insurance (SGLV 8714).

VGLI coverage is issued in multiples of $10,000 up to a maximum of $500,000. However, a service member's VGLI coverage amount cannot be more than the SGLI they had when they left the service.

You can also convert your VGLI policy into a commercial (civilian) policy at any time. You will be able to convert at standard premium rates, without having to provide proof that you're in good health.

Servicemembers' Group Life Insurance (SGLI): A low-cost group term life insurance program for service members

Servicemembers' Group Life Insurance (SGLI) is a low-cost group term life insurance program for service members. SGLI coverage is automatic for most active-duty service members, including those in the Ready Reserve and National Guard who are scheduled to perform at least 12 periods of inactive training per year. 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 are also covered.

SGLI coverage can be extended for up to two years if the service member is totally disabled at separation. Service members with full-time SGLI coverage can designate beneficiaries, or reduce, decline or restore coverage using the SGLI Online Enrollment System (SOES). This can be accessed at www.milconnect.dmdc.osd.mil/milconnect/. Those with part-time coverage or without access to SOES should use SGLV 8286 to make changes to their SGLI.

Additionally, SGLI Traumatic Injury Protection (TSGLI) is an automatic feature of SGLI that provides payments to service members who suffer losses, such as amputations, blindness, or paraplegia, due to traumatic injuries that occur during their service. All service members insured by SGLI are automatically covered by TSGLI. To file a claim for the TSGLI benefit, complete and file SGLV 8600.

Frequently asked questions