VA Service Disabled Life Insurance: DEADLINE: Jan. 1, 2023, Do Not Wait To Sign Up!

[broncovet]

Do not miss this deadline. 

The VA website states, "they won't accept any more SVDI insurance applications after Jan.1, 2023".  

I would apply "even if" I was not 100 percent, "but I thought I may be" some time in the future, as you may get in on the insurance.  But who knows?  

This means if you are 100 percent and don't yet have the free 10,000 life insurance, then apply, so VA GETS your application by/before Jan. 1.  Note:  The VA Life insurance calls it "waiver of premiums," but that means, if eligible, you get the premiums waived and get the benefits of the insurance, that is, what I call "free insurance."  

This is whole life insurance meaning it "builds cash value" over time. You can borrow or cash it in from that cash value, even though you haven't paid any premiums.  

I get a letter yearly on the cash value of my life insurance at VA.  

This can provide emergency money if you need it in a few years.  

Don't miss that deadline. Read the rules:

Go Here Now to Apply: VA Disabled Veterans Life Insurance

Edited December 24, 2022 by Tbird
Formatting

[harry59]

Thank you for taking the time to answer my question. Nobody else did.

[blahsaysme2u]

can anyone give an outline of what the new insurance is supposed to do for us? it seems its only taking the benefit of waivers away? why would anyone switch over (as i am constantly being asked to do since i already have a policy in place)- why would anyone want to switch?
thanks in advance!

[broncovet]

You posted:

why would anyone want to switch?

    I agree.  If you already have the 10,000 with waiver of premiums, then you give that up, if you buy the "new" VA life.  

This said, "it may" be possible to keep your present 10,000 with waiver, and get some more, if you wanted more insurance.  

If "nothing else", you could buy additional insurance "outiside of VA", and pay for that and keep your 10,000 with the premiums paid.  

In short:  "VA insurance" is not always the "great deal" that they lead us to believe.  

I suggest you get the cheapest...example:

Lets say you wanted 40,000.  You have 10,000.  (paid for by VA with waiver of premiums).  Call VA life, speak to an agent, and ask them "how much" is 40k life, and do you have to give up your 10,000 wiaver of premiums.  

Do the same for other companies, and pick the one which is best for you, VA or no VA.  

VA "isnt a magic discount".  

I got an FHA loan, for example, because it was cheaper than VA, as VA interest rate was higher.  

Yea, with VA they waive some of the points, but it was still cheaper to go FHA for me, you have to compare to find out.  

[blahsaysme2u]

can always count on logic from you sir! thanks for the info...
i have employer life too....so i think ill just keep my free (once i actually get my waiver- in appeal from other thread i wont go into here)

but you are right...va is good at offering things to vets that really arent in our best interest a lot of the time and we take bc most of us simply dont know any better...

[broncovet]

I remember when I was in the military.  There were "hucksters" looking for us, like a lion hunts a deer.  

One such huckster tried to make me believe, "that I did not love my mother" unless I bought her his overpriced jewelry necklace.  

I declined his offer and even asked my mom.  "Since I turned him down, do you think that means I dont love you?"

"Heavens no", she replied.  "Im pleased you did not fall for that scam..you already do a great job showing you love me..you are here arent you?   Having you here is more valuable than getting the hope diamond in the mail, and not getting to see you again."  

She meant it, too.  The hope diamond is worth 250 million, according to this:

https://friedmans.com/blog/2021/12/07/a-history-of-the-worlds-most-expensive-pieces-of-jewelry-2/

Remember, most of us risked our neck for our country..and some of us did not survive.  We were promised a bunch of stuff, and, mostly, our government has not delivered on much of that promise.  

One of the hucksters to watch out for is the VA.  If the VA insurance "really is" cheaper/better, then go for it.  But its not always the cheapest or best, like they expect us to believe.

The VA website says we should "get the benefits we earned"...yea, maybe we should, if VA did not take forever to deliver them!!!  VA website says:  

VA life insurance can offer financial security for Veterans, service members, and their spouses and dependent children. Explore your options, manage your policy, and file claims to get the insurance benefits you've earned.

end of va website quote. 

 

Edited April 6, 2023 by broncovet

[broncovet]

VA "changing" the life insurance program, was their clever scam coverup of discontinuing our 10,000 free life insurance.  They make it sound like its cheaper and better.  

Its pretty hard to beat "free" (waiver of premiums).  

I mean, is VA suddenly paying us to take their insurance?  I dont think so!