Veterans Group Life Insurance

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Veterans Group Life Insurance

Also called VGLI. Term life insurance offered by the Veterans Administration in the United States to former service members who purchased Servicemembers Group Life Insurance while they were in the military. Veterans who sign up for VGLI within 120 days of discharge are not required to submit evidence of good health to be eligible. Premiums are the same for both male and female veterans and are not higher for smokers. Likewise, veterans may not be excluded for mental problems such as post-traumatic stress disorder.
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VGLI rates are based on age and the amount of coverage purchased.
To learn more about VGLI and the opportunity to increase coverage, visit http://goo.gl/AhwQm.
All Retired Reserve SGLI policyholders will have their policies automatically exchanged for policies under the VGLI program.
In addition, VGLI is extended generally to reservists and National Guard members who decide to separate prior to reaching 20-year retirement.
For instance, SGLI provided while in service may be offered to eligible veterans by enabling them to enroll in VGLI. VGLI renews automatically, regardless of health status, and can be retained for the entire life of the individual, as long as the premiums are paid.
The VGLI program allows newly discharged veterans to convert their SGLI coverage they had while in the service to a civilian program.
Between 1 December 1981 and 6 January 1997, SGLI and VGLI have undergone significant changes.
The law also includes a provision that allows for incremental increases in the levels of coverage for SGLI and VGLI from the current $10,000 to $50,000.
The Department of Veterans Affairs (VA) is cutting premium rates for VGLI policyholders between ages 30 and 59.
Veterans Group Life Insurance (VGLI), 8/01/74-present, covers those being released from active duty.
The Veterans Program Enhancement ct, signed into law on November 11, 1998, established an option for VA to pay accelerated death benefits under the Servicemembers' Group Life Insurance (SGLI) and Veterans' Group Life Insurance (VGLI) programs.
The maximum coverage under Veterans' Group Life Insurance (VGLI) was increased, from $100,000 to $200,000.