29/12/2024
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11:52
CSTThe Department of Veterans Affairs (VA) offers a range of life insurance programs to provide financial protection for Veterans, service members, and their families. Coverage amounts and eligibility vary depending on the program, but each plan is designed to address specific needs.VALife, introduced in January 2023, offers whole life insurance to Veterans with service-connected disabilities. Coverage is guaranteed and available in increments of $10,000, up to a maximum of $40,000. The plan requires a two-year waiting period for coverage to take full effect, provided premiums are paid during that time.SGLI provides affordable term life insurance to most active-duty service members, members of the National Guard, Ready Reserve, and specific federal organizations. Coverage is automatic for eligible members and can be extended for up to two years if the service member is totally disabled at separation.VGLI allows Veterans to convert their SGLI coverage into a renewable civilian term life insurance policy after leaving the service. This ensures continued protection without the need for a medical exam.FSGLI covers the spouses and children of service members enrolled in SGLI. Spousal coverage cannot exceed the service member’s coverage amount, and dependent children are insured at no additional cost.TSGLI provides financial assistance to service members who experience severe injuries, such as amputations or blindness, due to service-related incidents. This benefit is automatically included for those covered by SGLI.VMLI offers mortgage protection for disabled Veterans who have received a Specially Adapted Housing (SAH) grant. Coverage is limited to the balance of the mortgage and ensures the Veteran’s family is not burdened with the remaining debt.By understanding these programs, you can choose the right coverage to safeguard your family’s financial future. Explore your eligibility and apply through the appropriate VA resources.
Mer. Gen 8th, 2025
