I HAVE approved H.R. 1927, a bill relating to veterans' life insurance and pension programs. This bill will immediately increase pensions for over 1 million needy veterans, widows, and children. It will also reopen National Service Life Insurance for approximately 4 million veterans with service-incurred disabilities and for those veterans who are so seriously disabled they are no longer commercially insurable. I urge all eligible veterans to explore this opportunity to help provide financial security for their families. This legislation also increases the options of those veterans who now carry National Service Life Insurance policies so that they can, if they so desire, convert their...
Continue reading...
WASHINGTON — All Veterans insured under Veterans’ Group Life Insurance (VGLI) will receive a reduction in premiums effective April 1, ensuring that VGLI remains a cost effective option for Veterans and transitioning uniform service members who choose Department of Veterans Affairs (VA) insurance products. Premiums for VGLI will be reduced by an average of 7% across all age groups — allowing separating service members to continue their Servicemembers’ Group Life Insurance coverage level as a renewable term insurance policy after leaving service. “The reduction in VGLI premiums will make life insurance even more affordable for Veterans,” said Acting Under Secretary for Benefits Thomas...
Continue reading...
Life Insurance for Veterans - Everything You Need to Know If you are a person serving in the U.S. Armed Services, you need to consider your family’s long-term financial needs should something tragic happen to you. Life insurance for veterans can provide this type of financial support to them, and options exist for most situations. Here is everything you need to know about life insurance for veterans and your options. Do All Veterans Get Veterans Life Insurance? The VA can help you to learn more about the veterans life insurance you qualify for in most cases. These programs are designed to provide financial protection to your family should something happen to you while serving. The SGLI and...
Continue reading...
Understanding life insurance for veterans Life insurance is a valuable tool to ensure your family’s financial future in the event something happens to you. Having the right policy in place is important for everyone. It can be even more important to people in high-risk jobs, like active and retired military. Before we get into the options for life insurance for service members, let’s cover some basics. Life insurance is an agreement in which you make regular payments, called premiums, and an insurance company pays your chosen entities a tax-free lump sum of money when you pass. It sounds pretty simple, but there are a lot of opportunities to customize coverage, and that can get confusing...
Continue reading...
Life Insurance For Veterans: An Overview Of Options For Military Personnel As a service member, you may be worrying about how you're going to provide for your family if you die during active military service. Fortunately, there is no shortage of options for life insurance for veterans! This guide will differentiate VA insurance from its traditional counterparts and hopefully help you choose the best VA life insurance for you. Read on to learn more about coverage, special exemptions, and eligibility. How Does Life Insurance For Veterans Differ From Standard Life Insurance? Unlike regular policies, veteran life insurance is specifically available to military service members who are active,...
Continue reading...
As of 2015, there were 9.3 million armed services veterans of retirement age. While there are still over a million Korean War veterans and close to a million veteran seniors of WWII alive today, the bulk of today’s retired veterans served in the Vietnam era—with 4.8 million already retired, and another 1.6 million reaching retirement age in the next ten years. Whatever period you served, however, chances are that you’ve taken advantage of education programs, job search and training resources, and home loans that are available to veterans of all ages. But if, like so many others, you’re a veteran approaching retirement age, you should be aware of a host of other resources waiting to assist...
Continue reading...
Best Life Insurance for Veterans: 4 Options The best life insurance for veterans is not necessarily the least expensive policy or the one that pays out the most. Rather, it is the one that delivers on a record of excellent customer service, easy payout processes, affordable premiums and maximum financial benefit over the life of the policy. Veterans have multiple options when it comes to purchasing a life insurance policy. They can continue their policies with the U.S. Department of Veteran's affairs or convert to private insurance entirely. Many opt to supplement their VA plan with private insurance to ensure a wide berth of coverage. Here are four options to consider if you're looking...
Continue reading...
Service-Disabled Veterans Life Insurance (S-DVI) Posted by Berry Law on September 12, 2019 in Medical In addition to dealing with the day-to-day consequences of a service-connected disability, Veterans may find further difficulties when planning for the future by purchasing life insurance. Private insurance companies may demand a higher premium from you as a result of your disabilities. The Service-Disabled Veterans Life Insurance program was developed to ensure that our Veterans have access to affordable life insurance regardless of their service-connected condition. Requirements There are a few eligibility requirements a Veteran must meet in order to qualify to purchase S-DVI. To meet...
Continue reading...
Life insurance is an important investment in anyone’s life but especially so for members of our military who are in harm’s way more frequently than the average civilian. Life and disability insurance offers the peace of mind that military members and veterans need so that their families will be taken care of after they are gone. However, military life insurance is not like your run-of-the-mill, everyday life insurance policy, and it can be even harder to find when you require disabled veterans life insurance. Even some of the best life insurance companies will not be able to offer the support required from life insurance for disabled veterans, but there are a few who particularly excel in...
Continue reading...
WASHINGTON, D.C. — Here's some great news for veterans and current service members. The Department of Veteran Affairs has revamped its VA Insurance Service. Daniel J. Keenaghan, the Department of Veteran Affairs Insurance Executive Director, shared some insight with News5 about the new modernization to the available VA Insurance Programs. “And the reason why this is important is because prior programs had time limits to sign up, and several veterans weren’t aware during their transition that they could sign up for this life insurance and so we really want to be able to meet their needs,” Keenaghan said. What sets VA Insurance programs apart from private life insurance policies is that they...
Continue reading...
