VALife: A Guide to Veterans Affairs Life Insurance
Veterans Affairs Life Insurance (VALife) offers a valuable life insurance option for veterans with service-connected disabilities. This program provides affordable and guaranteed coverage without requiring a medical exam or health questionnaire.
Eligibility for VALife
To qualify for VALife, you must meet specific age and disability rating requirements:
- Age 80 or Younger: You are eligible if you have a VA service-connected disability rating, even if it’s 0%.
- Age 81 or Older: If you applied for compensation for a VA service-connected disability before you turned 81 and received your disability rating after age 81, you must submit your VALife application within two years of receiving your rating.
Benefits of VALife
VALife offers the following benefits:
- Coverage Amount: Up to $40,000 in permanent life insurance, available in $10,000 increments.
- Cash Value: Cash value begins to accumulate two years after your application is approved.
- Guaranteed Approval: Approval is guaranteed if you meet the eligibility criteria. No underwriting is required, and your coverage remains in force indefinitely.
When Benefits Begin
- Full Coverage: Full coverage begins two years after enrollment, as long as your premiums are current.
- Death Within Two Years: If you pass away within two years of enrollment, your beneficiaries will receive the premiums paid, plus interest. The interest rates were 2.35% in 2024 and 3.59% in 2025.
- Survival After Two Years: After two years, your beneficiaries receive the full amount of the policy.
Beneficiary Designation
As the policyholder, you choose the beneficiaries who will receive the life insurance proceeds.
Reminder of the dynamic nature of life and benefits eligibility.
Disclaimer: Information can change, so it is very important to be aware. Always stay informed about any changes to the program.
