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VA Life
How it Works
How VA Life Works
Veterans Affairs Life Insurance (VALife) is a coverage option available to Veterans with service - connected disabilities.
Determine Eligibility
Guaranteed Acceptance If you're 80 years or younger and you have a VA service-connected disability rating 0 - 100% or if you're 81 or older and you have received your disability rating within the last 2 years.
Ensure You Need a 2 Year Wait
The VALife coverage comes with a 2 year waiting period regardless of your health. This option will ONLY make sense if you have determined you can not qualify for coverage without a 2 year wait.
Select Coverage Amount
If its determined that VALife is your BEST option you can choose a benefit amount from $10,000 up to $40,000 in increments of $10,000. Your price will be FIXED for the remainder of your life.
Apply For Coverage
You can APPLY Directly through the VA website. You will need to ensure you have an Id.me, Login.gov, or a DS Logon account to verify your Veteran Status. If you run into trouble you can also apply directly at your VA Clinic.
Review the Coverage
Once you apply the policy will be mailed to you for review. Please ensure you understand how the 2 year waiting period works and be sure to place the policy in a safe location
When your benefits will start
You full life insurance coverage starts 2 years after you apply. You must pay the premiums during those two years.
If you die during the 2 year waiting period, they will pay your beneficiaries the total amount you paid in premiums, plus 10% interest. If you die anytime after the 2 year waiting period, your beneficiaries will be paid the full coverage amount of your policy.
Check out our video detailing everything you need to know about VA Life Coverage!
Have S-DVI or VGLI?
If you have Service-Disabled Veterans Life Insurance (S-DVI) you have 2 options. You can apply now for VALife, or you can keep your S-DVI coverage. If you decide to apply now you will keep your S-DVI coverage during the 2 year waiting period. Your S-DVI coverage (including policies with premium waivers) will end when your out of your 2 year waiting period for VALife. You must pay premiums for both policies during the 2-year waiting period. VALife DOES NOT OFFER PREMIUM WAIVERS. If you currently have a premium waiver you most certainly want to look elsewhere.
If you have Veterans Group Life Insurance (VGLI) you can also take out a VALife policy in addition to or in lieu of. VGLI is increasing term coverage where you premiums will increase every 5 years (up to age 80 where your premiums will remain fixed for the duration of your life). Please be sure to evaluate what your price increase will be to determine if continuming your VGLI coverage makes the most sense.
