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VGLI: Veterans’ Group Life Insurance Overview

veterans group life insurance

What Is VGLI Coverage?

VGLI is short for Veterans’ Group Life Insurance.  It’s a renewable term life insurance policy the VA offers recently separated Servicemembers and Veterans. It allows you to continue the life insurance coverage you had in uniform under the Servicemembers’ Group Life Insurance (SGLI) program.

Unlike most commercial life insurance policies, VGLI does not require a health screening if you are applying within 240 days of separation from service. VGLI coverage does not expire or decrease at a certain age. As long as the premiums are paid, your coverage continues.

With VGLI, you have the option to increase your benefit amount over time. You can also convert your VGLI term life policy into a commercial permanent life insurance policy without having to prove you are in good health. VGLI can be used as primary life insurance coverage, or as a supplemental policy.

Who Is Eligible for VGLI?

To be eligible for VGLI, at least one of these situations must be true, you:


 

 

What Does VGLI Include?

How Much Does VGLI Cost?

The cost of a VGLI policy depends on how much coverage you need and your age.

How Do Servicemembers and Veterans Sign Up for VGLI?

How Do Servicemembers and Veterans Make Changes to Their VGLI Policy?

You can access your policy online to change or update your beneficiaries, or you can fill out the VGLI Beneficiary Designation form (SGLV 8721) and fax or mail it to OSGLI.

In order to apply:

Can VGLI Be Converted to Something Else?

Yes, VGLI can be converted to a commercial permanent life insurance policy, like a whole life policy, with one of the commercial insurance companies that has an agreement with the VA. You are not required to provide proof of good health to get the new policy, but the company may ask health questions to determine your premium costs.

To convert a VGLI policy to a commercial permanent life insurance policy, you must contact the company directly and submit a VGLI Conversion Notice you get from the Office of Service Members’ Group Life Insurance (OSGLI). You can convert a VGLI policy to a commercial permanent policy at any time. However, it cannot later be converted back to a VGLI renewable term policy.

Check back often to read about any changes to the Veterans’ Group Life Insurance program.

 

>> Getting affordable life insurance coverage with no medical exam or labs required is easy. Get a no-obligation, free consultation to determine your eligibility.

 

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