Apply here: VA Life Insurance | Veterans Affairs

More information on VALife here: Veterans Affairs Life Insurance (VALife) - Life Insurance

Service-Disabled Veterans Insurance (S-DVI) will no longer be offered as of Jan 1, 2023. Instead, VA Life Insurance (VALI) will be offered.

Veterans Affairs Life Insurance (VA LI) provides guaranteed acceptance whole life coverage of up to $40,000 to Veterans with service-connected disabilities.

All Veterans age 80 and under who have a VA disability rating of 0 to 100 percent are eligible for the VALI program and have no time limit to apply. Veterans who are 81 or older and apply for VA Disability Compensation before age 81 and receive a rating for a new service-connected condition after turning 81 are also eligible if they apply within two years of their rating.

The maximum coverage amount available will be $40,000 and may be elected in lesser increments of $10,000.

Applications will be available online after January 1, 2023.

If you are currently on S-DVI, you may continue the premiums at your current rate.

VALI will offer no waivers of premiums. If you currently have a waiver for your $10,000 policy because you are 100% and unemployable for 6 months or more or are TDIU, that policy and waiver will continue as is.

VALI_Information.pdf

A couple thoughts on this change:

• Whole life can seem expensive over term life such as VGLI.

• Premiums don't increase over time as with term life.

• Smaller payout over term.

• Term can get VERY expensive as you get older.

• Whole life will eventually be paid off while term continues with a premium.

• You can borrow against whole life.

• VA LI and S-DVI have no disqualifier for being a disabled veteran.

• S-DVI will continue with the waiver of $10K if you already have it.

• VA LI won't have the requirement of a disability rating within the last 2 years.

• VA LI will allow up to $40K while S-DVI only allowed that if the waiver was applied.

Am I eligible for Service-Disabled Veterans Life Insurance?

You may be eligible for S-DVI if you meet all of these requirements.

All of these must be true:

1. You were released from active duty on or after April 25, 1951, and didn’t receive a dishonorable discharge, and

2. You were rated for a service-connected disability (even if only 0%), and

3. You’re in good health except for any service-connected conditions, and

4. You are under age 65, and

5. You apply by December 31, 2022, or within 2 years of receiving your disability rating (whichever comes first)

Note: An increase of a rating you had before—or a rating of Individual Unemployability, meaning you can’t work—doesn’t qualify you for S-DVI.

Can I get more life insurance coverage if I need it?

If you carry the basic S-DVI coverage and become totally disabled and unable to work, you can apply to get up to $30,000 more in coverage. This is called supplemental S-DVI coverage.

You may be able to get $30,000 of supplemental coverage if you qualify for a premiums waiver, and you meet both of these requirements.

Waiver of premiums for policyholders who become totally disabled

A waiver of premiums means you won’t have to pay your life insurance premiums (the monthly payments you make to hold your policy). In most cases, premiums can only be waived up to one year prior to receipt of a claim.

You may be able to get a waiver of your life insurance premiums if you meet all of these requirements.

All of these must be true to get the premium waiver:

1. You have a mental or physical disability that prevents you from being able to hold a job, and

2. You’re covered under Service-Disabled Veterans Life Insurance (S-DVI), and

3. Your total disability happens before you’re 65 years old—but after the effective date of your life insurance policy, and

4. Your total disability continues for at least 6 months in a row

There are certain exceptions to the above conditions. But if you think you’re entitled to a waiver of premiums, you should apply as soon as possible and the VA Insurance division will let you know if you qualify.

Who’s covered?

Veterans