What is VGLI?
VGLI is a program of post-separation insurance which allows service members to convert their service member group life insurance coverage to renewable term insurance. Members with full-time SGLI coverage are eligible for VGLI upon release from service.
How Much Coverage is Available?
VGLI coverage is issued in multiples of $10,000 up to a maximum of $400,000. However, a service member’s initial VGLI coverage amount cannot exceed the amount of SGLI they had in force at the time of separation from service.
Effective April 11, 2011, VGLI insureds who are under age 60 and have less than $400,000 in coverage can purchase up to $25,000 of additional coverage on each five-year anniversary of their coverage, up to the maximum $400,000. No medical underwriting is required for the additional coverage.
Other features include:
The VGLI’s premium rates are based on age only.
No physical or background health check is required. Members with PTSD are not excluded.
One can choose how often to pay premiums, including discounts if premiums are paid early.
No enrollment or membership fees.
Special benefits for the terminally ill, such as requesting a payment of up to 50% of your VGLI coverage if you are diagnosed with an illness that results in a life expectancy of 9 months or less.
To find out if the VGLI is right for you, visit http://www.insurance.va.gov/sgliSite/VGLI/vgliFaq.htm.
