, MI — Beginning January 1, 2023, based on Veteran advocacy and recent legislation, the VA will offer a new Veterans Affairs Life Insurance program (VALI).
VALI has fixed premiums for life that are lower the sooner one signs up; an initial two year period to achieve the policy face value; and retains cash value that builds up over time. As a person ages, life insurance becomes more popular, but also more expensive or difficult to approve the later someone applies.
VALI offers guaranteed acceptance whole life coverage up to $40,000 for all service-connected Veterans age 80 and under with no medical underwriting and no time limit to apply. Some Veterans over age 80 may also be eligible.