Understanding Va Life Insurance Payout Timelines And Process

Veterans Affairs Life Insurance (VALife) is a guaranteed acceptance whole life insurance program for service-connected veterans aged 80 and under. The maximum coverage under VALife is $40,000, with lesser coverage available in $10,000 increments. The full-face amount of coverage takes effect two years after enrollment, as long as premiums are paid during the two-year waiting period. If the insured dies within the two-year waiting period, the beneficiary will receive all premiums paid plus interest. After this two-year period, the full insurance amount is paid out to the beneficiary upon the death of the insured. The average time to pay a death claim is 2-5 business days.

Eligibility criteria for VALife 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 to veterans with service-connected disabilities.

To be eligible for VALife, you must meet the following criteria:

• Age: You must be 80 years old or younger when you apply for VALife. If you are 81 or older, you may still be eligible, but additional requirements must be met.
• Service-Connected Disability: You must have a VA service-connected disability rating. This rating can be at any level, even 0%.
• Timing: There is no time limit to apply after receiving your disability rating. However, if you are 81 or older, you must apply within 2 years of getting your disability rating notification.

Additional Information:

• Premium Rates: Your premium amount will depend on your age and the desired coverage amount. The premium rate will remain fixed as long as you keep your VALife policy.
• Coverage Amount: VALife offers up to $40,000 in whole life insurance coverage, with lesser amounts available in $10,000 increments.
• Waiting Period: Your full life insurance coverage starts 2 years after you apply. During this waiting period, you must pay the premiums. If you pass away during this time, your beneficiaries will receive the total amount of premiums paid, plus interest.
• Application Process: You can check your eligibility and apply for VALife online. When applying, you will need to submit your first premium payment.

Applying for VALife insurance

Eligibility

Veterans Affairs Life Insurance (VALife) is available to all service-connected veterans aged 80 and under. If you are 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 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.

Benefits

VALife offers the following benefits:

• 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.
• Guaranteed acceptance whole life insurance, meaning that if you meet the eligibility requirements, your application will be automatically approved without the need to prove you are in good health. You can keep this coverage for the rest of your life.
• Locked-in premium rates that will never increase as long as you keep your VALife policy.
• The option to pay premiums either monthly or annually, with a 2.5% discount for annual payments.
• The ability to pay premiums through deductions from your VA compensation, military service retirement pay, checking account, or via e-billing (using a debit card, credit card, PayPal, or Amazon Pay).

When Benefits Start

Your full life insurance coverage starts 2 years after you apply, as long as you pay the premiums during those 2 years. If you die during the 2-year waiting period, your beneficiaries will receive the total amount you paid in premiums, plus interest. If you die after the 2-year waiting period, your beneficiaries will receive the full coverage amount of your policy.

Premium Rates

Your premium rate will depend on your age when you apply and the amount of coverage you want. The older you are, the higher your premium rate will be. 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.

Monthly and yearly premium rates are provided on the VALife website for ages 18 to 95. As an example, for someone aged 30, the monthly premium rate for $10,000 coverage is $15.40, while the yearly premium rate is $182.70.

Application Process

You can apply for VALife by accessing the online application on the VALife website. The application provides an immediate decision, although in rare cases, an employee may need to review the application. Once approved, you will receive an application confirmation, and within 4-5 days, you can log into your online account and print a copy of your policy pages.

If you are visually impaired, you can complete the 508-compliant online application. Alternatively, you can contact your local Veteran Service Organization (VSO) or county/state Veteran Affairs Office for assistance. You can also call the VA Insurance Center at 1-800-669-8477.

Impact on S-DVI Coverage

If you have Service-Disabled Veterans Life Insurance (S-DVI), you have two options:

• Apply for VALife by December 31, 2025, and keep your S-DVI coverage during the 2-year waiting period for VALife benefits. Your S-DVI coverage will end when your full VALife coverage starts, and you must pay premiums for both policies during the waiting period.
• Apply for VALife on or after January 1, 2026. Your S-DVI coverage will end the day your VALife application is approved, and you will only need to pay VALife premiums during the 2-year waiting period. However, you won't have full coverage during this time.

Note: VALife does not offer premium waivers, so if you have a waiver for S-DVI premiums, it will not transfer to VALife.

Premium rates for VALife insurance

The premium rates for VALife vary depending on the age of the applicant and the amount of coverage desired. The rates are locked in at the time of enrollment and will not increase for the duration of the policy. The monthly premium rates for different age groups are as follows:

Ages 18 to 30 (monthly rates)

| Age | Monthly premium rate for $10,000 coverage (in U.S. $) | Monthly premium rate for $20,000 coverage (in U.S. $) | Monthly premium rate for $30,000 coverage (in U.S. $) | Monthly premium rate for $40,000 coverage (in U.S. $) |

|---|---|---|---|---|

| 18 | 10.90 | 21.80 | 32.70 | 43.60 |

| 19 | 11.10 | 22.20 | 33.30 | 44.40 |

| 20 | 11.40 | 22.80 | 34.20 | 45.60 |

| 21 | 11.70 | 23.40 | 35.10 | 46.80 |

| 22 | 12.10 | 24.20 | 36.30 | 48.40 |

| 23 | 12.40 | 24.80 | 37.20 | 49.60 |

| 24 | 12.80 | 25.60 | 38.40 | 51.20 |

| 25 | 13.20 | 26.40 | 39.60 | 52.80 |

| 26 | 13.60 | 27.20 | 40.80 | 54.40 |

| 27 | 14.00 | 28.00 | 42.00 | 56.00 |

| 28 | 14.40 | 28.80 | 43.20 | 57.60 |

| 29 | 14.90 | 29.80 | 44.70 | 59.60 |

| 30 | 15.40 | 30.80 | 46.20 | 61.60 |

Ages 31 to 40 (monthly rates)

| Age | Monthly premium rate for $10,000 coverage (in U.S. $) | Monthly premium rate for $20,000 coverage (in U.S. $) | Monthly premium rate for $30,000 coverage (in U.S. $) | Monthly premium rate for $40,000 coverage (in U.S. $) |

|---|---|---|---|---|

| 31 | 15.90 | 31.80 | 47.70 | 63.60 |

| 32 | 16.40 | 32.80 | 49.20 | 65.60 |

| 33 | 17.00 | 34.00 | 51.00 | 68.00 |

| 34 | 17.60 | 35.20 | 52.80 | 70.40 |

| 35 | 18.30 | 36.60 | 54.90 | 73.20 |

| 36 | 18.90 | 37.80 | 56.70 | 75.60 |

| 37 | 19.60 | 39.20 | 58.80 | 78.40 |

| 38 | 20.40 | 40.80 | 61.20 | 81.60 |

| 39 | 21.10 | 42.20 | 63.30 | 84.40 |

| 40 | 22.00 | 44.00 | 66.00 | 88.00 |

Ages 41 to 50 (monthly rates)

| Age | Monthly premium rate for $10,000 coverage (in U.S. $) | Monthly premium rate for $20,000 coverage (in U.S. $) | Monthly premium rate for $30,000 coverage (in U.S. $) | Monthly premium rate for $40,000 coverage (in U.S. $) |

|---|---|---|---|---|

| 41 | 22.80 | 45.60 | 68.40 | 91.20 |

| 42 | 23.70 | 47.40 | 71.10 | 94.80 |

| 43 | 24.60 | 49.20 | 73.80 | 98.40 |

| 44 | 25.60 | 51.20 | 76.80 | 102.40 |

| 45 | 26.60 | 53.20 | 79.80 | 106.40 |

| 46 | 27.70 | 55.40 | 83.10 | 110.80 |

| 47 | 28.80 | 57.60 | 86.40 | 115.20 |

| 48 | 30.00 | 60.00 | 90.00 | 120.00 |

| 49 | 31.20 | 62.40 | 93.60 | 124.80 |

| 50 | 32.50 | 65.00 | 97.50 | 130.00 |

Ages 51 to 60 (monthly rates)

| Age | Monthly premium rate for $10,000 coverage (in U.S. $) | Monthly premium rate for $20,000 coverage (in U.S. $) | Monthly premium rate for $30,000 coverage (in U.S. $) | Monthly premium rate for $40,000 coverage (in U.S. $) |

|---|---|---|---|---|

| 51 | 33.90 | 67.80 | 101.70 | 135.60 |

| 52 | 35.30 | 70.60 | 105.90 | 141.20 |

| 53 | 36.90 | 73.80 | 110.70 | 147.60 |

| 54 | 38.40 | 76.80 | 115.20 | 153.60 |

| 55 | 40.10 | 80.20 | 120.30 | 160.40 |

| 56 | 41.90 | 83.80 | 125.70 | 167.60 |

| 57 | 43.70 | 87.40 | 131.10 | 174.80 |

| 58 | 45.70 | 91.40 | 137.10 | 182.80 |

| 59 | 47.70 | 95.40 | 143.10 | 190.80 |

| 60 | 50.00 | 100.00 | 150.00 | 200.00 |

Ages 61 to 70 (monthly rates)

| Age | Monthly premium rate for $10,000 coverage (in U.S. $) | Monthly premium rate for $20,000 coverage (in U.S. $) | Monthly premium rate for $30,000 coverage (in U.S. $) | Monthly premium rate for $40,000 coverage (in U.S. $) |

|---|---|---|---|---|

| 61 | 52.30 | 104.60 | 156.90 | 209.20 |

| 62 | 54.60 | 109.20 | 163.80 | 218.40 |

| 63 | 56.90 | 113.80 | 170.70 | 227.60 |

| 64 | 59.40 | 118.80 | 178.20 | 237.60 |

| 65 | 62.00 | 124.00 | 186.00 | 248.00 |

| 66 | 64.80 | 129.60 | 194.40 | 259.20 |

| 67 | 67.80 | 135.60 | 203.40 | 271.20 |

| 68 | 70.90 | 141.80 | 212.70 | 283.60 |

| 69 | 74.40 | 148.80 | 223.20 | 297.60 |

| 70 | 78.00 | 156.00 | 234.00 | 312.00 |

Ages 71 to 80 (monthly rates)

| Age | Monthly premium rate for $10,000 coverage (in U.S. $) | Monthly premium rate for $20,000 coverage (in U.S. $) | Monthly premium rate for $30,000 coverage (in U.S. $) | Monthly premium rate for $40,000 coverage (in U.S. $) |

|---|---|---|---|---|

| 71 | 81.80 | 163.60 | 245.40 | 327.20 |

| 72 | 85.80 | 171.60 | 257.40 | 343.20 |

| 73 | 90.10 | 180.20 | 270.30 | 360.40 |

| 74 | 94.70 | 189.40 | 284.10 | 378.80 |

| 75 | 99.50 | 199.00 | 298.50 | 398.00 |

| 76 | 104.60 | 209.20 | 313.80 | 418.40 |

| 77 | 109.90 | 219.80 | 329.70 | 439.60 |

| 78 | 115.60 | 231.20 | 346.80 | 462.40 |

| 79 | 121.40 | 242.80 | 364.20 | 485.60 |

| 80 | 127.50 | 255.00 | 382.50 | 510.00 |

Ages 81 to 95 (monthly rates)

| Age | Monthly premium rate for $10,000 coverage (in U.S. $) | Monthly premium rate for $20,000 coverage (in U.S. $) | Monthly premium rate for $30,000 coverage (in U.S. $) | Monthly premium rate for $40,000 coverage (in U.S. $) |

|---|---|---|---|---|

| 81 | 133.80 | 267.60 | 401.40 | 535.20 |

| 82 | 140.40 | 280.80 | 421.20 | 561.60 |

| 83 | 147.40 | 294.80 | 442.20 | 589.60 |

| 84 | 154.70 | 309.40 | 464.10 | 618.80 |

| 85 | 162.60 | 325.20 | 487.80 | 650.40 |

| 86 | 171.10 | 342.20 | 513.30 | 684.40 |

| 87 | 180.40 | 360.80 | 541.20 | 721.60 |

| 88 | 190.90 | 381.80 | 572.70 | 763.60 |

| 89 | 202.90 | 405.80 | 608.70 | 811.60 |

| 90 | 217.00 | 434.00 | 651.00 | 868.00 |

| 91 | 234.30 | 468.60 | 702.90 | 937.20 |

| 92 | 256.40 | 512.80 | 769.20 | 1,025.60 |

| 93 | 287.40 | 574.80 | 862.20 | 1,149.60 |

| 94 | 337.00 | 674.00 | 1,011.00 | 1,348.00 |

| 95 | 442.00 | 884.00 | 1,326.00 | 1,768.00 |

There is also an option to pay the premiums annually, with a 2.5% discount offered for this payment method. The yearly premium rates for different age groups are as follows:

Ages 18 to 30 (yearly rates)

| Age | Yearly premium rate for $10,000 coverage (in U.S. $) | Yearly premium rate for $20,000 coverage (in U.S. $) | Yearly premium rate for $30,000 coverage (in U.S. $) | Yearly premium rate for $40,000 coverage (in U.S. $) |

|---|---|---|---|---|

| 18 | 129.30 | 258.60 | 387.90 | 517.20 |

| 19 | 131.70 | 263.40 | 395.10 | 526.80 |

| 20 | 135.30 | 270.60 | 405.90 | 541.20 |

| 21 | 138.80 | 277.60 | 416.40 | 555.20 |

| 22 | 143.60 | 287.20 | 430.80 | 574.40

Claiming insurance for the insured's death

When a veteran passes away, their beneficiaries can file a claim to receive the benefits from their VA life insurance policy. Here is a step-by-step guide on how to do this:

Step 1: Complete the required forms

The first step is to complete VA Form 29-4125e, "Claim for One Sum Payment." This form needs to be signed by the beneficiary and attached to the veteran's death certificate, which should show the date and cause of death. If the beneficiary is a minor or incompetent, then the form should be signed by the next of kin, personal representative, or logical person to receive payment on their behalf. In this case, letters of guardianship or similar should also be included.

Step 2: Submit the claim

There are three ways to submit the claim:

• File the claim electronically online. This is the fastest and most secure method.
• Upload the documents using the secure web page.
• Mail the documents to the following address:

> Department of Veterans Affairs Insurance Center

> P O Box 7208

> Philadelphia, Pennsylvania 19101

Step 3: Receive the benefits

On average, it takes 2-5 business days for the beneficiaries to receive the claim money. If the insured veteran passed away within the two-year waiting period after enrolling in VALife, the beneficiaries will receive all premiums paid plus interest. If the veteran died two years or more after enrolling, the full insurance amount elected will be paid out.

It is important to keep the information on who you want to receive your insurance proceeds up to date to make it easier for your family members to file a claim when the time comes.

Managing your VALife insurance policy

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 lesser amounts available in increments of $10,000. The full-face amount of coverage takes effect two years after enrollment, as long as premiums are paid during the two-year waiting period.

Applying for VALife

You can apply for VALife by accessing the VALife online application. The online application provides an immediate decision. In rare cases, an employee may review an application. Once approved, you will receive an application confirmation, and within 4-5 days, you can log into your online account and print a copy of your policy pages.

Managing your account

You can make changes to your account through the Online Policy Access portal. A power of attorney, legal guardian, or VA Fiduciary may manage or make changes to the policy on behalf of the veteran with proper authorization on file. However, a specific court order is required for any beneficiary changes to beneficiary designations. An authorized agent must complete a VA Form 29-10279, VALife Policy Maintenance Form, which can be sent and completed via DocuSign.

Premium payments

Your premiums are based on your "insurance age." If you are less than six months from your last birthday when you applied, your premium is based on your current age. If you are less than six months from your next birthday, your premium rate is based on your age on your next birthday.

Premiums for VALife are locked in at the rate you pay when you enroll and do not increase over time. You can choose to pay your premiums monthly or annually. There is a discount rate of 2.5% for paying premiums annually.

You can pay your premiums through deductions from your VA compensation, military service retirement pay, checking account, or directly through e-billing (pay.gov) via debit card, credit card, PayPal, or Amazon Pay.

Cancelling your coverage

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

Updating your beneficiary

You can update your beneficiary by completing VA Form 29-336, Designation of Beneficiary – Government Life Insurance. You can upload the signed form using the secure document upload portal.

Filing a death claim

To file a claim for VA Life Insurance online, you will need to complete VA Form 29-4125e, Claim for One Sum Payment, and attach the veteran's death certificate and any other required documentation. The average time to pay a death claim is 2-5 business days.

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

• File a claim electronically online.
• Upload your documents using the secure web page.
• Mail your documents to the following address:

> Department of Veterans Affairs Insurance Center

> P O Box 7208

> Philadelphia, Pennsylvania 19101

Frequently asked questions