May 2, 2025, marks National Life Insurance Awareness Day, serving as a timely reminder to evaluate your life insurance needs. Life insurance is a crucial financial benefit that offers peace of mind to both you and your loved ones. The Department of Veterans Affairs (VA) provides multiple life insurance options tailored to the needs of service members and Veterans, including Servicemembers’ Group Life Insurance (SGLI), Veterans’ Group Life Insurance (VGLI), and the newly introduced Veterans Affairs Life Insurance (VALife).
Why Life Insurance Matters
Life insurance provides essential funds to cover expenses upon your death, ensuring that your loved ones are financially protected. With the right policy and coverage amount, you can cover funeral expenses, provide income replacement for your family, or pay off outstanding debts.
VA Life Insurance Programs
VA offers a range of life insurance programs designed for Veterans, service members, and their families. For active duty personnel and military families, SGLI provides low-cost term life insurance coverage of up to $500,000. Additionally, Traumatic Injury Protection (TSGLI) coverage is included with SGLI, offering up to $100,000 in coverage for traumatic injuries. Family Servicemembers’ Group Life Insurance (FSGLI) allows spouses and dependent children of service members covered by SGLI to receive additional coverage – spouses can have up to $100,000 in coverage with a premium, while dependent children are covered for $10,000 at no extra cost.
For Veterans, VGLI allows the conversion of SGLI term life insurance coverage after separation from service. Veterans must apply within one year and 120 days from their separation date. If they apply within 240 days, no health questions are required. Alternatively, Veterans can opt for whole life insurance through VALife, which offers guaranteed acceptance for Veterans aged 80 and under with any level of service-connected disability. VALife provides up to $40,000 in coverage with competitive premiums that remain constant throughout the policy’s life and builds cash value over time.
Some Veterans with service-connected disabilities may also be eligible for Veterans’ Mortgage Life Insurance (VMLI), which offers mortgage protection insurance for those who received a Specially Adapted Housing grant.
To learn more about these life insurance programs, you can visit VA’s life insurance webpage at va.gov/life-insurance.
Additional Resources
For more information about VA benefits and services, Veterans can attend events like the upcoming Georgia gathering, which offers benefits counseling, health care resources, and job guidance. It’s also essential to stay vigilant against scammers targeting Veterans with Special Monthly Compensation benefits or Purple Heart recipients.
Many Veterans have found valuable resources through VA programs. For instance, Army Veteran Adam Boren used the G.I. Bill to find purpose in soccer and community service after his military career.
