Beneficiaries covered by Veterans’ Group Life Insurance (VGLI) will see their premiums reduced by an average of seven percent as of April 1. The change will enable both veterans and those who are leaving military service to continue their Servicemembers’ Group Life Insurance (SGLI) coverage as a renewable term life insurance policy.
Anyone covered by SGLI who leaves active duty can enroll for VGLI without having to prove they are in good health, but they must apply and pay an initial premium within 240 days after they take off the uniform. Veterans can still apply for VGLI after the 240-day period, but must do so within one year and 120 days after separating. Also, they must prove they are in good health.
VA has extended the application deadlines an additional 90 days for both the initial 240-day period and the one-year-and-120-day period, due to the Covid-19 pandemic. The extension will remain in effect through June.