Veterans Group Life Insurance VGLI is … Find out if you qualify for VGLI and how to manage your coverage. Veterans Group Life Insurance is very important to understand. VGLI can provide up to $400,000 in life insurance. Members of the military with full-time SGLI coverage … Apply Online Continue Application Already Have VGLI Coverage? Veterans Group Life Insurance is not the only option available to veterans, and it may be possible to find a private life insurance policy with a more affordable premium. Veterans’ Group Life Insurance To recap, VGLI is available for all qualifying veterans of any health condition (if you apply before 240 days). Veterans' Group Life Insurance (VGLI) is a program of post-separation group term insurance which allows veterans to convert their Servicemembers' Group Life Insurance (SGLI) coverage to renewable term insurance. Therefore, you would not be able to borrow from Veterans Group Life Insurance because it does not have any cash value or pay any dividends. VGLI is short for Veterans’ Group Life Insurance. The death benefit from this coverage never decreases unless you request it, and the policy remains in force as long as premiums are paid. Note: When you leave the military, you can sign up through VGLI for coverage up to the amount you had through SGLI. Fill out a VGLI Beneficiary Designation form (SGLV 8721). End Amendment Part End Supplemental Information The amount of your premium depends on the type and level of coverage you choose. Accordingly, the Department of Veterans Affairs is adopting the interim final rule amending 38 CFR part 9 that published at 85 FR 35562 on June 11, 2020, as a final rule without change. See the VGLI premium rates before July 1, 2014. SGLI is nice. You can also increase your coverage by $25,000 every 5 years—up to $400,000—until you’re 60 years old. But once you’re out of the service, you have more options to provide coverage for you and your loved ones. Before sharing sensitive information, make sure you're on a federal government site. This material may not be published, broadcast, rewritten or redistributed. Veterans' Group Life Insurance (VGLI) Learn more about VGLI Coverage. VGLI, like SGLI, is overseen by the VA, but is administered by the Office of Servicemembers' Group Life Insurance. You can also convert your SGLI policy into a civilian policy within 120 days from the date you left the military. Note: these time limits have temporarily been extended by 90 days. You have one year and 120 days from your date of separation from service to apply for VGLI. Find out if you qualify for VGLI and how to manage your coverage. There are several options available for the payment of premiums. © Copyright 2020 Military.com. View more newsletters on our Subscriptions page. To qualify for Veterans Group Life Insurance the applicant must no longer be serving in the armed forces. Veterans Group Life Insurance (VGLI) is a government program designed to help veterans continue their life insurance after leaving the service. Note: The conversion policy must be a permanent policy, such as a whole life policy. Explore life insurance options with our free tool, which compares rates and matches you to the coverage you want. Apply at the local sales office of your chosen company. You may be able to get VGLI if you meet at least one of the requirements listed below. Members with SGLI coverage are eligible for VGLI upon release from service. It doesn’t matter if you use tobacco products or are overweight. Covered members receive 120 days of free coverage from their date of separation. The .gov means it’s official. A proposal to ensure free lifetime entry to national parks for all disabled veterans has been signed into law. The site is secure. Had part-time Servicemembers’ Group Life Insurance (SGLI) as a member of the National Guard or Reserves, and you suffered an injury or disability (damage to your body or mind that makes it hard for you to do everyday tasks, including meaningful work) while on duty—including direct traveling to and from duty—that disqualified you for standard premium insurance rates. Eligible members with full-time SGLI coverage are eligible for Veterans’ … Requirements apply to all branches of the armed forces, as well as the Ready Reserves and the National Guard. Get the latest award-winning military content. Also known as the SGLI, this is a group term policy purchased from a commercial life insurance company provided by the Department of Veterans Affairs. Servicemembers Group Life Insurance (SGLI) coverage is available in $50,000 increments up to the maximum of $400,000. 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