VA LIFE INSURANCE

[BUZZ]

If you are 100% PT Schedular,my understanding is that you can still work,if you work can you still apply for the $10,000.00 life insurance and will it be wavier?

[broncovet]

I have 10,000 of VA life insurance where premiums are waived.  There are rules, just like everything else.  First, the Veteran has to apply for life insurance

WITHIN 2 YEARS or receiving a "new" rating. 

He must apply for, and be granted the waiver. 

And, I am pretty sure you have to do that by age 65.  (I dont know what happens when a 65 year old Vet takes 20 years to get his rating..whether he gets the insurance or not). 

Source:  http://www.benefits.va.gov/INSURANCE/gli-claim-disability.asp

[green]

 http://www.benefits.va.gov/insurance/pdfs/sdvi.pdf

For those who received a rating in the last 2 years and don't have VA life insurance.

Edited October 21, 2015 by green

[Buck52]

you should get a letter from the group insurance for the  (free 10.000 life policy paid in by the Government ) but you need to  file the appl,&  you also can get more insurance for a small fee to add to the free policy. thay can take the policy fee out of what you get.

you should get  this information   sent to you.

now if your working and you were rated P&T  I am not sure you would qualify for the free 10.000 policy?

 

jmo

 

..........Buck

[USMC_VET]

you should get a letter from the group insurance for the  (free 10.000 life policy paid in by the Government ) but you need to  file the appl,&  you also can get more insurance for a small fee to add to the free policy. thay can take the policy fee out of what you get.

you should get  this information   sent to you.

now if your working and you were rated P&T  I am not sure you would qualify for the free 10.000 policy?

 

jmo

 

..........Buck

sorry for hijack for a moment

is the ability to add to the policy open if you are not 100%?

I have it but only 10k how can i add to it?

[broncovet]

Each Veteran is given "only one" 10,000 life policy that is paid by VA (waiver of premiums).  If you have the first 10,000 "free" policy you wont get another. 

You can get more insurance from VA, but you have to pay for it AND, you have to meet the rules.  The "supplemental" life insurance (above and beyond the first 10,000) must be applied for within about 2 years. 

YOu should go to the VA life insurance website or call them

You can call VA life at 1-800-669-8477 (8:00 AM to 6:00 PM ET)Mar 3, 2015.  Remember, tho, life insurance is "for profit" so, sorry to disappoint, but  dont expect the horrible delays, and frustrations you get a "regular" VA departments.  They have to keep their customers happy, as Veteran s can get life insurance also elsewhere.  VA life insurance has fewer complaints than any other department EVEN THO Prudential rips off survivors, by talking them into re investing their life insurance proceeds with that company. 

http://www.bloomberg.com/news/articles/2010-08-30/prudential-veterans-insurance-lawsuit-is-expanded-with-new-fraud-claims

So with VA life insurance you get all the scandals of "regular" VA, but better service.  I wonder why the profits from VA life insurance go to Prudential anyway, it looks like that should go back to Veterans.  Somebody has their hand in somebody elses pocket.   

[broncovet]

IMPORTANT:

Every (eligible) disabled Veteran should get his free 10,000 life insurance.  That is a no brainer.  But, you dont necessarily want to "buy" other VA life insurance just because its "VA" life.  Sometimes other companies are cheaper, so get it there instead, that is, other than the first 10,000 free. 

Prudential does not "give" Veterans anything.  Keep remembering that and you will do fine.