VA Life insurance program coming January 2023 for Veterans with service connection

[Tbird]

Veterans Affairs Life Insurance (VALife) provides guaranteed acceptance whole life coverage of up to $40,000 to Veterans with service-connected disabilities.  Lesser amounts are available in increments of $10,000. Under this plan, the elected coverage takes effect two years after enrollment as long as premiums are paid during the two-year period.

Important Dates for VALife and S-DVI

The VALife program includes key dates and features that are important to know. They include changes that impact the Service Disabled Veterans Insurance (S-DVI) program. Click here to VIEW IMPORTANT MILESTONES.

Eligibility

All Veterans age 80 and under, who have a VA disability rating of 0 to 100 percent are eligible for the VALife program and have no time limit to apply. Veterans who are 81 or older and have applied for VA Disability Compensation before age 81 but did not receive the rating for a new service-connected condition until after turning 81 are also eligible if they apply within two years of their rating.

Type of Coverage

The VALife program offers whole life guaranteed acceptance coverage. Under this type of coverage, the face amount of coverage takes effect two years after the date of enrollment as long as premiums are paid during the two-year period. This two-year waiting period replaces the need for medical underwriting. If the insured dies within this two year period, the beneficiary will receive all premiums paid plus interest.

Cost

The premium rate (the amount you will pay each month or annually for your coverage) depends on your age and the amount of coverage you elect. The premiums for VALife are fixed and based on your age when you enroll.  Click here to FIND OUT MORE ON PREMIUM COSTS.

Can premiums be waived?

There are no premium waivers for the VALife program.

How to Apply?

VALife will take effect January 1, 2023. The application will become available on our website at that time. In the meantime, you can SIGN UP FOR FUTURE EMAIL UPDATES ABOUT VALIFE to stay informed.

Veterans Affairs Life Insurance (VALife) Premium Rates

The monthly premiums for VALife are based on your age when you enroll. Once locked in, your premiums will not increase.
 

Age	Coverage Amount and Monthly Premium
	$10,000	$20,000	$30,000	$40,000
18	$10.90	$21.80	$32.70	$43.60
19	$11.10	$22.20	$33.30	$44.40
20	$11.40	$22.80	$34.20	$45.60
21	$11.70	$23.40	$35.10	$46.80
22	$12.10	$24.20	$36.30	$48.40
23	$12.40	$24.80	$37.20	$49.60
24	$12.80	$25.60	$38.40	$51.20
25	$13.20	$26.40	$39.60	$52.80
26	$13.60	$27.20	$40.80	$54.40
27	$14.00	$28.00	$42.00	$56.00
28	$14.40	$28.80	$43.20	$57.60
29	$14.90	$29.80	$44.70	$59.60
30	$15.40	$30.80	$46.20	$61.60
31	$15.90	$31.80	$47.70	$63.60
32	$16.40	$32.80	$49.20	$65.60
33	$17.00	$34.00	$51.00	$68.00
34	$17.60	$35.20	$52.80	$70.40
35	$18.30	$36.60	$54.90	$73.20
36	$18.90	$37.80	$56.70	$75.60
37	$19.60	$39.20	$58.80	$78.40
38	$20.40	$40.80	$61.20	$81.60
39	$21.10	$42.20	$63.30	$84.40
40	$22.00	$44.00	$66.00	$88.00
41	$22.80	$45.60	$68.40	$91.20
42	$23.70	$47.40	$71.10	$94.80
43	$24.60	$49.20	$73.80	$98.40
44	$25.60	$51.20	$76.80	$102.40
45	$26.60	$53.20	$79.80	$106.40
46	$27.70	$55.40	$83.10	$110.80
47	$28.80	$57.60	$86.40	$115.20
48	$30.00	$60.00	$90.00	$120.00
49	$31.20	$62.40	$93.60	$124.80
50	$32.50	$65.00	$97.50	$130.00
51	$33.90	$67.80	$101.70	$135.60
52	$35.30	$70.60	$105.90	$141.20
53	$36.90	$73.80	$110.70	$147.60
54	$38.40	$76.80	$115.20	$153.60
55	$40.10	$80.20	$120.30	$160.40
56	$41.90	$83.80	$125.70	$167.60
57	$43.70	$87.40	$131.10	$174.80
58	$45.70	$91.40	$137.10	$182.80
59	$47.70	$95.40	$143.10	$190.80
60	$50.00	$100.00	$150.00	$200.00
61	$52.30	$104.60	$156.90	$209.20
62	$54.60	$109.20	$163.80	$218.40
63	$56.90	$113.80	$170.70	$227.60
64	$59.40	$118.80	$178.20	$237.60
65	$62.00	$124.00	$186.00	$248.00
66	$64.80	$129.60	$194.40	$259.20
67	$67.80	$135.60	$203.40	$271.20
68	$70.90	$141.80	$212.70	$283.60
69	$74.40	$148.80	$223.20	$297.60
70	$78.00	$156.00	$234.00	$312.00
71	$81.80	$163.60	$245.40	$327.20
72	$85.80	$171.60	$257.40	$343.20
73	$90.10	$180.20	$270.30	$360.40
74	$94.70	$189.40	$284.10	$378.80
75	$99.50	$199.00	$298.50	$398.00
76	$104.60	$209.20	$313.80	$418.40
77	$109.90	$219.80	$329.70	$439.60
78	$115.60	$231.20	$346.80	$462.40
79	$121.40	$242.80	$364.20	$485.60
80	$127.50	$255.00	$382.50	$510.00
81*	$133.80	$267.60	$401.40	$535.20
82*	$140.40	$280.80	$421.20	$561.60
83*	$147.40	$294.80	$442.20	$589.60
84*	$154.70	$309.40	$464.10	$618.80
85*	$162.60	$325.20	$487.80	$650.40
86*	$171.10	$342.20	$513.30	$684.40
87*	$180.40	$360.80	$541.20	$721.60
88*	$190.90	$381.80	$572.70	$763.60
89*	$202.90	$405.80	$608.70	$811.60
90*	$217.00	$434.00	$651.00	$868.00
91*	$234.30	$468.60	$702.90	$937.20
92*	$256.40	$512.80	$769.20	$1,025.60
93*	$287.40	$574.80	$862.20	$1,149.60
94*	$337.00	$674.00	$1,011.00	$1,348.00
95*	$442.00	$884.00	$1,326.00	$1,768.00

 *Please note that coverage is only available to Veterans over age 80 if they:

1. Apply for a new service-connected condition prior to the age of 81,
2. Receive a grant for the new service-connected condition after the age of 81, and
3. Apply within two years of notification of the grant.

Edited December 10, 2022 by Tbird
Updated Information (see edit history)

[Richard1954]

I am glad VA decided to make it eaiser for  some veterans to get insurance, Unfornatuly for those of us old timers ( 60 and above) the rates are no better than if you just purchase a private garantee excepted policy in the private sector. I'll be 69 In Feb see my rates below,  depending on if I buy 10 , 20, 30 or 40K of insurance.  I have $30K of va disabled vet insurance now, That used to be the max, I found out later that I could have purchasaed $40K but by the time I found out, the va would not sell it to me  because of my age. 

Frankly these policies are no different than the private sector policies for garantee acceptance,  and most private sector policys also  have a two year waiting period for full benefits.  I don't want to be negative, but for most of us over 60, the rates are very high ( as in the private sector), I don't see any benefit for veterans to purchase these policies, because they can get  better rates in the private sector. I will just hang on to my VA disabled life insurance, why would anyone start over again anyway.

The VA should not only offer insurance, but the insurance should be affordable for all ages. When you consider all the money our government gives away to other countries, and  recently gave away, billions of dollors  under the forgive college debt  program,  VA could do better for vets in this area. 

I have a private policy guartee life policy right now, its for  $12K for $79.00 monthly, that I purchased just two years ago...Of course I have other policies, like my federal life insurance from when I worked, and full life policies I purchased when I was young.  the  $12K  I mentioned, was purchased to cover my furneral cost only 

Like always thats my two cents,  the way things are going , I might not be able to afford the two cents, so next time I'll put it on my account... ( yea on account I have no money) 

69

$74.40

$148.80

$223.20

$297.60

[GBArmy]

The new insurance will work for some and others may be able to get comparable coverage elsewhere. But it is for Disabled veterans; if  disabled, a veteran can at least pick up a policy there where he may not get something elsewhere because of his disabilities. One other thing to consider is that, at least currently, the Feds don't tax the beneficiaries or you estate on the proceeds of the policy. That may be important to some.