Insurance After New Rating

[hedgey]

here's the website for S-DVI :

http://www.insurance.va.gov/gli/buying/SDVI.htm

You can apply online, it looks like.

Here's the main number for insurance questions:

1-800-419-1473

I have found that unlike calling the VARO, calling the VA Insurance office, the CHAMPVA folks, and the Chapter 35 Education folks has always been a good experience. The people in these offices really want to help and are very patient if you get confused or have a lot of questions.

Don't be afraid to call, they're nice people.

[carlie]

Not sure if my husband would qualify for insurance. Here is our situation.

In March he was awarded 60% for IHD, we received the pkt. with insurance but didn't immediately apply for it.

He received a pacemaker/ defib a couple of days after this, and in 3 wks. was rated 100% P&T.

So... is he not eligible to apply for the insurance unless he gets another SC disability rating???

Thanks,

VetswifeIndy

Yes, he meets the criteria.

I'd file ASAP.

JMHO

[vetswifeIndy]

Carlie,

Thanks a bunch for replying but, I'm confused about this issue.

What Insurance Co. should we use?

VetswifeIndy

[Inthewind]

How does one get the notification of the waiver of eligibility? I applied for the basic policy over a month ago and haven't heard anything about whether or not I was accepted yet.

[Inthewind]

A quick correction: the number for S-DVI is 1-800-669-8477.

The number from Hedgey is to SGLI/VGLI.

[SolInvictus]

For a "new" disabled Vet (within 2 years) this is a no brainer: Get the insurance, at least the first 10,000 worth.

Reasons:

The insurance is whole life, not term, that builds up cash value. What this means:

You can get the insurance, and your premiums will be paid (for the first 10k of a disabled Vet whose waiver of premiums is approved). If you die, your family gets 10,000. If you live, and you need money, you can "cash in" the life insurance policy, or, better yet, "borrow" on your policy.

Bottom line. The 20 pay life will have a cash value of 10,000 in 20 years. This means you can apply for the insurance, and, if you live 20 years, you would have $10,000 in a "bank account" (the insurance policy) that you can collect, if you see fit to do just that.

I got my 10,000 policy and the premiums were waived about 5 years ago. My policy, that I did not have to pay for, is now "worth" about 2000 dollars. I could borrow or cash the policy in, but its valuable and I am keeping it.

You are throwing money away not getting your 10,000 life insurance if you have a new disability (and you are eligible for waiver of premiums)

You make so much sense every time you post that I'm forced to troll around hadit mining all the golden info you keep dropping. Thanks for the pearls of wisdom Broncovet.