Veterans life insurance

September is National Life Insurance Awareness Month

September is National Life Insurance Awareness Month. VA Insurance Service highlights its mission to provide our nation’s veterans, service members, and military families with life insurance products and services. There are several life insurance programs available to service-related veterans and upcoming changes will extend the benefit to even more veterans in honor of their service.

What is Disabled Veterans Life Insurance (S-DVI)?

S-DVI is the current VA life insurance program for veterans with service-related disabilities. The program offers up to $10,000 in basic life insurance coverage. S-DVI also provides up to $30,000 in additional coverage if a veteran is totally disabled, unable to work, and qualifies for a waiver of premium.

S-DVI closes to new registrations at the end of 2022

S-DVI and Supplemental S-DVI will close new registrations after December 31st. Veterans currently enrolled in S-DVI may retain coverage after this date, if they wish. Veterans currently not enrolled in S-DVI can apply within two years of the date they left the service, or by December 31, whichever comes first.

Launch of Veterans Life Insurance (VALife) in January 2023

On January 1, 2023, enrollment opens for VALife, a new VA life insurance program offering increased access to veterans age 80 and under with any level of service-related disability (0-100% ). Veterans age 81 or older can apply for VALife within two years of receiving notification of a new service-related disability rating if they:

  • Applied for VA Disability Benefit before age 81, and;
  • Received a new service-related disability rating after reaching age 81.

VALife offers the following benefits:

  • Guaranteed acceptance whole life insurance up to $40,000, available in $10,000 increments.
  • Premiums will never increase for the life of the policy and are competitive with similar private sector offerings.
  • No medical conditions required for registration. Due to the lack of medical requirements, there is a two-year waiting period for full coverage to take effect.
  • Cash value that accumulates over the term of the policy after the first two years of membership.
  • Fully automated online registration with instant approvals.
  • No application deadline for Veterans 80 and under.

If veterans currently have S-DVI, how do they upgrade to VALife?

Once the application goes live on January 1, 2023, S-DVI insured veterans age 80 and under can switch to VALife at any time by applying on VALife website. However, there are certain application deadlines to be aware of:

  • If a veteran applies for VALife on or before December 31, 2025, they can retain their S-DVI coverage during the two-year waiting period for VALife coverage to take effect. S-DVI coverage will end after the two-year waiting period and VALife full coverage will take effect.
  • If a veteran applies for VALife on or after January 1, 2026, their S-DVI coverage ends the day they enroll in VALife, and they will not receive this coverage during the two-year waiting period before VALife coverage begins. take effect.

Learn more about S-DVI and VALife

Veterans and their families can learn more about S-DVI and VALife by visiting the following websites: