Life Insurance for Veterans
Military-specific benefits and civilian coverage options
Veterans and active-duty military personnel have access to unique life insurance programs not available to the general public, including SGLI, VGLI, and S-DVI. However, these government programs may not provide enough coverage on their own. Understanding how to combine military benefits with commercial life insurance can give you and your family the comprehensive protection you deserve.
Why Veterans Need Life Insurance
- Government programs (SGLI/VGLI) may not provide sufficient coverage for your family
- VGLI premiums increase every 5 years and become expensive over time
- Protect your family during and after military service transitions
- Cover service-connected disabilities that may affect future earning potential
- Ensure your family can maintain their lifestyle if you are deployed or injured
- Supplement VA benefits which may not cover all survivor needs
Recommended Policy Types
SGLI (Active Duty)
Servicemembers Group Life Insurance provides up to $500,000 at very low rates during active duty. Automatic enrollment.
VGLI (Post-Service)
Veterans Group Life Insurance lets you convert SGLI coverage after separation. No medical underwriting required if you convert within 240 days.
Commercial Term Life
Often more affordable than VGLI long-term. Healthy veterans can get better rates and higher coverage amounts from commercial carriers.
How Much Coverage Do You Need?
Evaluate your total coverage needs including VA survivor benefits, SGLI/VGLI, and any gaps. Many veterans find that VGLI becomes too expensive after the first few rate increases and transition to commercial term policies. If you have service-connected disabilities, compare guaranteed-issue options from both VA and commercial carriers.
Common Mistakes to Avoid
- Assuming SGLI/VGLI is always the best option — commercial rates may be lower
- Missing the 240-day VGLI conversion window after military separation
- Not knowing about S-DVI (Service-Disabled Veterans Insurance) if you have a service-connected disability
- Relying solely on employer group coverage after transitioning to civilian employment
- Failing to compare VGLI renewal rates against commercial term quotes
Expert Tips
- Convert SGLI to VGLI within 240 days of separation to guarantee coverage without medical underwriting
- Compare VGLI rates to commercial term quotes — VGLI gets expensive after age 40
- If you have a service-connected disability, apply for S-DVI through the VA
- Consider a commercial policy alongside VGLI for cost-effective total coverage
- Work with an agent experienced in military and veteran insurance needs
Frequently Asked Questions
What is SGLI and who qualifies?
Servicemembers Group Life Insurance (SGLI) is low-cost coverage available to active duty members, Ready Reserve, and National Guard. Maximum coverage is $500,000 at approximately $25/month.
Can I keep my SGLI after leaving the military?
SGLI ends 120 days after separation. You can convert to VGLI (Veterans Group Life Insurance) within 240 days without a medical exam, or apply within 1 year with evidence of good health.
Is VGLI or commercial insurance cheaper long-term?
VGLI rates increase every 5 years based on age. For veterans under 40 in good health, commercial term insurance is often significantly cheaper long-term. Compare both before deciding.
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