VA Life Insurance
The VA's life insurance programs for service members and veterans, the deadlines to convert coverage, and a calculator for your dates.
VA life insurance deadline calculator (SGLI to VGLI)
VA life insurance options
- SGLI (Servicemembers' Group Life Insurance): low-cost term coverage while you serve, up to $500,000 in $50,000 increments, with 120 days of free coverage after you leave (up to 2 years if totally disabled).
- VGLI (Veterans' Group Life Insurance): converts SGLI to renewable term coverage after you leave, from $10,000 up to the SGLI amount you had.
- VALife: guaranteed-acceptance whole life insurance up to $40,000 (in $10,000 increments) for veterans with any service-connected disability rating, even 0%, with cash value starting after 2 years.
VGLI deadlines
Apply for VGLI within 240 days of leaving to get coverage without a health review; after that you can still apply until 1 year and 120 days after discharge, but you'll need to show good health. If you have less than the maximum, you can increase VGLI by $25,000 one year after getting it and every 5 years after that, up to $500,000, until age 60.
VGLI premiums rise with age, so compare with private term insurance. Planning for family income? See Social Security survivor benefits.
Common questions
How long do I have to convert SGLI to VGLI?
240 days with no health review, or up to 1 year and 120 days with proof of good health.
What is the maximum SGLI coverage?
$500,000.
Who can get VALife?
Veterans with any service-connected disability rating, up to $40,000 of whole life coverage.
Sources
More retirement calculators: Traditional IRA · 401(k) Calculator with Employer Match · 401k or Roth IRA
Related
General information, not financial, tax or legal advice. Check important numbers with the official source before acting on them.