After April 25, 1951, you were released from active duty and did not receive a dishonorable discharge.To qualify, applicants must meet the all of the following requirements: If you become totally disabled and are unable to work, you can apply for up to $30,000 of supplemental coverage. Veterans Affairs Life Insurance replaced this type of policy in January 2023.īasic S-DVI offers up to $10,000 of coverage. Service-Disabled Veterans Life Insurance (S-DVI) offers affordable coverage for veterans with service-connected disabilities. Service-Disabled Veterans Life Insurance (S-DVI) Massachusetts Mutual Life Insurance Co.To begin the process, contact a participating private insurance company. You can convert without having to provide proof that you’re in good health. Are being put on the Temporary Disability Retirement List (TDRL) (within one year and 120 days)Ĭonversion: With a VGLI policy, you also have the option to convert the policy from existing group life coverage to an individual policy.Are receiving an assignment to the Individual Ready Reserves (IRR) (within one year and 120 days).Are retiring or being released from the Ready Reserves of National Guard (within one year and 120 days).Received SGLI while in the military and are within one year and 120 days of release from active-duty of over 31 days.Received part-time SGLI as a National Guard or Reserve member, and experienced an injury or disability while on duty (including direct travel to and from duty), which disqualified you from standard premium insurance rates.In addition to having SGLI coverage, veterans must at least meet one of the following requirements to qualify for coverage: After 240 days, veterans must prove they are in good health in order to get the coverage. Those who apply within 240 days will not need to prove they are in good health. To qualify, veterans must apply for VGLI coverage within one year and 120 days of leaving the service. It’s also possible to increase coverage limits by $25,000 every five years-up to $400,000-until reaching age 60. Veterans can receive between $10,000 to $400,000 of coverage depending on their previous SGLI policy’s coverage level. Service members must have had Servicemembers’ Group Life Insurance (SGLI) to continue coverage. Veterans’ Group Life Insurance (VGLI) allows former service members and veterans to continue to receive group life insurance coverage after leaving the military as long as they continue making premium payments. When it’s time to retire from active duty, the Department of Veterans Affairs offers additional life insurance options. Service members and their families can qualify for group life insurance policies, including the Servicemembers’ Group Life Insurance (SGLI) and Family Servicemembers’ Group Life Insurance (FSGLI).įor those who suffered from and need financial support to recover from a traumatic or severe injury, Traumatic Injury Protection (TSGLI) can provide short-term financial coverage.
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