Veterans Group Life Insurance (VGLI)

Veterans group life insurance pays cash to the beneficiaries of a deceased member of the armed forces who had completed his or her service. Veterans Group Life Insurance (VGLI) is for service members who have completed their service and wish to continue to have life insurance coverage carried over from their Service members Group Life Insurance (SGLI) policy. They have one year and 120 days from the date they become veterans to exercise this option, and VGLI is a renewable term policy.

Veterans group life insurance offers many benefits not available in the private life insurance market. Premium rates are age-based only; they do not consider gender, tobacco use, job or recreational activities, all of which can increase premiums in the private market.

The policy does not terminate at a certain age (such as 65); it remains in force for as long as the policyholder pays the premiums. Also, veterans who apply to convert their SGLI to VGLI within the first 120 days after completing their service are not subject to a health review. Approval of the policy is not contingent upon being in good physical or mental health.

Veterans may enroll for a maximum amount of coverage that is equal to the amount of Servicemembers’ Group Life Insurance (SGLI) coverage you had when you separated from service. Lesser amounts of coverage are also available in increments of $10,000.

Once enrolled in VGLI, a veteran will have the opportunity to increase coverage by $25,000 every five years, up to the legislated maximum of $400,000, until age 60.

Veterans are eligible to apply for VGLI if they had SGLI and are within 1 year and 120 days of the following events:

• Release from active duty or active duty for training under a call or order to duty that does not specify a period of less than 31 days
• Separation, retirement or release from assignment from the Ready Reserves/National Guard.
• Assignment to the Individual Ready Reserves (IRR) of a branch of service or to the Inactive National Guard (ING).This includes members of the United States Public Health Service Inactive Reserve Corps (IRC)
• Placement on the Temporary Disability Retirement List (TDRL)

A veteran can also apply for VGLI if they had part-time SGLI, and while performing duty, suffered an injury or disability that rendered you uninsurable at standard premium rates. This includes travel directly to and from duty.