“Coverage and Protection are Waiting for You!”
Take full advantage of life insurance programs provided by the VA! Although most require premium payments, they are very competitive with other commercial organizations and often overlook ailments incurred while in service.
Some are open to all veterans while others are restricted to those with service-connected disabilities.
Veterans’ Group Life Insurance
If you are RECENTLY RELEASED FROM THE MILITARY and had a Servicemembers’ Group Life Insurance (SGLI) policy, you have the option of converting to Veterans’ Group Life Insurance (VGLI) – available to:
- Veterans will full-time SGLI coverage.
- Veterans with part-time SGLI coverage who are rendered
uninsurable at standard premium rates due to a disability being
incurred or pre-existing disability aggravated during a reserve period. - Members of the Individual Ready Reserve and Inactive National Guard.
Terms and Benefits:
- Renewable five-year term coverage.
- SGLI can be converted to VGLI up to the amount of coverage you had when separated from service.
- An application should be submitted within 120 days of separation. If an application is submitted after the 120 days, you can still convert to VGLI by paying the initial premium and showing evidence of insurability within one year of termination from SGLI coverage.
- If you are totally disabled at the time of separation, you are eligible for up to one year for a free SGLI Disability Extension.
- If you are covered under the SGLI Disability Extension, you can convert to VGLI at the end of the extension period.
- VGLI is convertible at any time to a permanent plan policy with any participating insurance company.
- Accelerated Death Benefits - If you are a VGLI policyholder and become terminally ill (prognosis of nine months or less to live), you can receive up to 50% of coverage amount in advance.
How to Apply:
- Use VAForm SGLV 8714, Application for Veterans’ Group Life Insurance.
General Information on Insurance Plans
PAID-UP INSURANCE AVAILABLE ON TERM POLICIES
Service-Disabled Veterans Insurance
If you have a SERVICE-CONNECTED DISABILITY, were discharged from the military under other than dishonorable conditions, and are in otherwise good general health, you should be eligible for up to $10,000 in Service-Disabled Veterans Insurance (S-DVI) coverage from the VA.
Terms and Benefits:
- Application must be received within two years from the date of being rated with a service-connected disability through the VA.
- You must have left service on or after April 24, 1951.
How to Apply:
- Use VA Form 29-4364, Application for Service-Disabled Insurance (S-DVI). You may also apply directly with the VA online.
If you are TOTALLY DISABLED, you may apply for a waiver of premiums and additional supplemental coverage up to $20,000.
Terms and Benefits:
- Premiums can not be waived for additional insurance.
- To be eligible, you must meet all of the following requirements:
- Have an S-DVI (service-disabled) policy.
- Be under age 65.
- Meet requirements set for total disability.
- Apply within one year from the date of notification of having met total disability requirements.
How to Apply:
- To request a waiver of premiums, apply using VA Form 29-357, Claim for Disability Insurance Benefits.
- To request a supplemental coverage, apply using VA Form 29-0188, Application for Supplemental Service Disabled Veterans Life Insurance.
Veterans’ Mortgage Life Insurance
If you are SEVERELY DISABILED and have been approved for a Specially Adaptive Housing (SAH) grant, Veterans’ Mortgage Life Insurance (VMLI) coverage is available toward protecting your home.
Terms and Benefits:
- Must be approved for SAH before applying for VMLI.
- Maximum coverage is $90,000.
- Coverage is only payable to the mortgage company.
- Protection is issued automatically as long as the veteran provides information required to establish a premium and does not decline coverage.
- Coverage automatically terminates when the mortgage is satisfied.
- If your mortgage is disposed of through sale of property, insurance may be obtained on the mortgage of another home.
How to Apply:
- Once approved through SAH, apply using VA Form 29-8636, Application for Veterans Mortgage Life Insurance.
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