WASHINGTON — All Veterans insured under Veterans’ Group Life Insurance (VGLI) will receive a reduction in premiums effective April 1, ensuring that VGLI remains a cost effective option for Veterans and transitioning uniform service members who choose Department of Veterans Affairs (VA) insurance products.
Premiums for VGLI will be reduced by an average of 7% across all age groups — allowing separating service members to continue their Servicemembers’ Group Life Insurance coverage level as a renewable term insurance policy after leaving service.
“The reduction in VGLI premiums will make life insurance even more affordable for Veterans,” said Acting Under Secretary for Benefits Thomas Murphy. “Offering our Veterans better rates for their life insurance as they transition to civilian life is just one effort the department is taking to address the needs of our customers.”
While any separating service member who has SGLI coverage upon separation is eligible to sign up for VGLI after separation, they must submit their application and initial premium within 240 days after leaving the military to apply without proof of good health. Those who apply after the 240-day period but before the deadline of one year and 120 days from separation will need to submit proof of good health by completing a questionnaire regarding medical conditions.
Additionally, due to the COVID-19 pandemic, VA is temporarily extending the application deadlines for VGLI by an additional 90 days beyond the initial 240-day period and the one year and 120 day-period, referenced above, to offer more flexibility to separating service members. This enrollment extension will remain in effect until June 2021.
Learn more about VA Insurance, the new VGLI rates, calculating your insurance needs and opening an application.
###
Reporters and media outlets with questions or comments should contact the Office of Media Relations at vapublicaffairs@va.gov
Veterans with questions about their health care and benefits (including GI Bill). Questions, updates and documents can be submitted online.
Veterans can also use our chatbot to get information about VA benefits and services. The chatbot won’t connect you with a person, but it can show you where to go on VA.gov to find answers to some common questions.
Subscribe today to receive these news releases in your inbox.
More from the Press Room
News Releases
The Department of Veterans Affairs announced its 2024 goals in support of its efforts to prevent and end Veteran homelessness.
News Releases
The Department of Veterans Affairs selected the top performing teams to move forward in VA’s Artificial Intelligence Tech Sprint competition targeting the development of AI solutions to address burnout among health care workers.
News Releases
The Biden-Harris Administration released the President’s Budget for fiscal year 2025. This budget proposes critical resources to help VA continue providing more care and more benefits to more Veterans than ever before.