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By: FEDweek StaffMore veterans will be eligible to sign up for life insurance through the Department of Veterans Affairs in the new year. The Veterans Affairs Life Insurance Program, which begins Jan. 1, will offer as much as $40,000 in whole life insurance to veterans age 80 and under, with disability ratings between zero and 100 percent.
Eligible veterans will be guaranteed coverage, without medical underwriting. Veterans will be able to enroll online, get instant decisions, and perform functions such as electronic payments and updates of beneficiary information themselves. There are no time limits or health requirements to apply.
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