Life Insurance Options for Veterans

Guest article provided by:

You spent years serving and protecting our country–and for that, we are deeply thankful.

Now, you need to make sure your family and loved ones are protected and provided for should the unthinkable happen. 

The good news is that as a veteran, you have several options for life insurance, both from government and private insurers. So that you can choose the best solution for your family, here’s a breakdown of your options.

Veterans’ Group Life Insurance (VGLI)

VGLI allows you to convert your Servicemembers’ Group Life Insurance (SGLI) to a civilian program after you separate from service. To qualify, you must apply for VGLI coverage within one year and 120 days of leaving the service. You can receive between $10,000 to $400,000 of coverage depending on your previous SGLI policy’s coverage level. Keep in mind that VGLI premiums increase significantly every five years, and you can only increase your coverage by $25,000 every five years—up to a maximum of $400,000—until the age of 60. 

While the monthly rates for VGLI are extremely low compared to private options, its $400,000 coverage cap may not be enough for your family. If you need additional life insurance to supplement a VGLI policy, private life insurance options are available.

With a VGLI policy, you also have the option to convert the policy from existing group life coverage to an individual policy without having to provide proof that you’re in good health. 

Learn more about policy conversion here

Service-Disabled Veterans Life Insurance (S-DVI)

S-DVI offers life insurance to veterans who have received a service-connected disability within the last two years. While basic S-DVI offers up to $10,000 of coverage, if you become fully disabled and cannot work, you can apply for up to $30,000 of supplemental coverage.

Veterans’ Mortgage Life Insurance (VMLI)

VMLI provides mortgage life insurance protection to disabled veterans who have been approved for a VA Specially Adapted Housing (SAH) grant. This type of policy coverage decreases as the mortgage balance is repaid. If you pay off your mortgage completely, coverage will come to an end. 

Like other mortgage life insurance policies, the benefit is paid directly to the bank or lender that holds your mortgage, not to your family.

Veterans Life Insurance Riders

If you become totally disabled, you are eligible for a “waiver of premium” rider. This means you will no longer have to pay your life insurance premiums. Typically, premium payments can only be waived for up to one year before filing a claim.

If you are ready to get your life insurance policy today, you may start by clicking HERE. (add link:
If you have questions or need more info on any of these options, please let us know so we can help your family get the life insurance coverage they need. Our team is here whenever you need us. You can contact us at (516) 277-0812 or via email at [email protected].