insurance

Veterans Group Life Insurance

A low-cost group life insurance program available to military veterans who had Servicemembers' Group Life Insurance while on active duty. VGLI provides renewable term life insurance that veterans can maintain after leaving military service without medical underwriting initially.

Example

“After completing his Army service, Michael converted his SGLI to Veterans Group Life Insurance to maintain affordable life insurance coverage for his family.”

Memory Tip

VGLI = Veterans Get Life Insurance - continuing military life insurance benefits into civilian life.

Why It Matters

VGLI provides veterans with an affordable way to maintain life insurance coverage without medical exams, which is especially valuable for veterans with service-connected health issues. Missing the initial enrollment window can result in losing this valuable benefit permanently.

Common Misconception

Many veterans believe VGLI automatically continues after military service or that they can enroll anytime. However, veterans must actively apply within specific timeframes, and late applications require medical underwriting and evidence of insurability.

In Practice

Staff Sergeant Johnson separates from the military with $400,000 in SGLI coverage. She has 240 days to convert to VGLI without medical questions. The premium for $400,000 in VGLI coverage at age 28 is approximately $32 monthly. If she waits longer than 240 days, she'll need medical exams and could be denied coverage, potentially losing access to this affordable group rate permanently.

Etymology

Established in 1974 as part of the Veterans' Insurance Act to provide continued life insurance coverage for veterans transitioning from military Servicemembers' Group Life Insurance (SGLI).

Common Misspellings

Veterens Group Life InsuranceVeterans Group Lyfe InsuranceVeteran Group Life InsuranceVeterans Grup Life Insurance

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