Life Insurance
General Information About Life Insurance
There are several different life insurance plans available to different categories of veterans:
- Servicemen's Group Life Insurance (SGLI) - Provides up to
$200,000 of full-time life insurance coverage if you are currently
in military service.
Full-time coverage is also available to Ready Reservists. Coverage
is in effect throughout your period of active duty or reserve status
and
for 120 days following your separation or release from active duty
or reserve status. In addition, if you are totally disabled at the
time
of separation, you may apply for up to a one-year period of free
coverage. Retired Reservists may continue SGLI coverage under a special
program
until the receipt of the first increment of retired pay or their
61st birthday, whichever occurs first.
- Veterans Group Life Insurance (VGLI) - The VGLI
program is a conversion of your SGLI following release from active
duty to a five-year
renewable term policy with reasonable premium rates. You may maintain
the VGLI policy throughout your lifetime, or convert the insurance
to
an individual
commercial life insurance policy with any one of about
l50 participating commercial insurance companies. VGLI is not available
to Retired
Reservists. If you are a member of the Individual Ready Reserve or
the Inactive National
Guard, you are also eligible for VGLI coverage. VGLI
is also available to reservists who are injured on duty and rendered
uninsurable
at standard rates.
- Service-Disabled Veterans Insurance (RH) - The RH insurance program provides $10,000 of basic life insurance coverage if you are rated by VA for a service-connected disability(ies). VA will notify you of your eligibility to this insurance program on your initial notice of a service-connected rating. VA Form 29-4364, Application for Service-Disabled Veterans Insurance, will be forwarded to you automatically. Even if you do not receive an application in the mail you must apply within two years of the date you were notified by VA of your service-connected disability. Premium payments may be allotted from your VA disability compensation or military retirement benefits.
Additional Information
Contact your local VA Regional Office for additional assistance at 1-800-827-1000 or call the Insurance Center directly at 1-800-669-8477. Visit the VA insurance website.
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