Current Events

Title:Q&A about VA's newest life insurance program

Date:December 2022

Source:U.S. Department of Veterans Affairs © 2022, Reprinted with permission

Volume:Volume 3 Issue 194

Veterans Affairs Life Insurance (VALife) is VA's newest whole life insurance program that offers cash value and very competitive premium rates. Enrollment opens on Jan. 1, 2023, for all service-connected Veterans age 80 and under.

Learn more about the program and find answers to some common questions:

Who is eligible for VALife?

Veterans age 80 or under with any level of service-connected disability (0-100%) are eligible to apply at any time.

Veterans age 81 or older may also apply for VALife within two years of receiving notification of a new service-connected disability if they:

  • Applied for a new VA rated disability before age 81, and
  • Received a new service-connected disability after turning 81
How do I apply for VALife?

The VALife application goes live on Jan. 1, 2023, at The application process is completely online, and Veterans will receive an automated instant decision about their eligibility for the program. If accepted into the program, Veterans can enroll and manage most aspects of their VALife policy online.

What coverage does VALife offer?

VALife offers up to $40,000 in coverage, available in $10,000 increments. There are no medical exams or health questions for enrollment. The policy has cash value that builds over time after the first two years of enrollment.

How much are VALife monthly premium rates?

A full breakdown of VALife monthly premium rates by age can be found here:

VALife premium rates are competitive—or better than—similar programs offered by the private sector. Premiums are based on age upon enrollment and coverage amount selected. Current medical condition(s) or gender are not factored into premium rates. Once enrolled, premiums will never increase on the coverage selected. If coverage is increased in the future, rates will be based on age at that time.

Why is there a two-year waiting period for VALife coverage to take full effect?

The two-year waiting period eliminates the need for applicants to answer health questions or provide proof of good health to be eligible. This waiting period ensures access to guaranteed acceptance whole life insurance for more Veterans than ever before.

Do I have to pay monthly premium rates during the two-year waiting period for my VALife coverage to take effect?

Yes, Veterans must pay premiums during the two-year waiting period. If the Veteran dies during the two-year waiting period, all premiums paid plus interest will be paid to their designated beneficiary. The full face value of the policy will be paid to the beneficiary after the two-year period. Veterans who pay premiums directly, rather than by deduction from their compensation or military retirement or checking account, have the option to pay premiums annually.

How does VALife coverage compare to similar private sector programs?

VALife's maximum coverage of $40,000 is greater than what's offered by many similar guaranteed acceptance whole life insurance programs in the private sector. The cost per $1,000 is very competitive or less than similar products, providing savings to Veterans.

Can I switch from my current VA insurance program to VALife? Can I be enrolled in VALife and another program at the same time?

Veterans currently enrolled in Service-Disabled Veterans Life Insurance (S-DVI) may either keep that coverage or switch to VALife when the application goes live:

  • If you have S-DVI and submit your VALife application on or before Dec. 31, 2025, then by law, you may only keep your S-DVI coverage for two years. When the two-year period concludes, your S-DVI coverage ends, and the full VALife coverage amount takes effect. Any cash value from your S-DVI coverage will be paid to you or can be applied toward your VALife premiums.
  • If you have S-DVI and submit your VALife application on or after Jan. 1, 2026, then by law, your S-DVI coverage ends on the day you enroll in VALife. However, you will still need to wait two years before your full VALife coverage amount takes effect.

Eligible Veterans currently enrolled in Veterans' Group Life Insurance (VGLI) may have both VGLI and VALife coverage. Veterans can also be enrolled in Veterans' Mortgage Life Insurance (VMLI) or other VA insurance coverage and VALife at the same time. By law, only S-DVI and VALife is an either/or choice.

Does VALife also cover family members?

VALife does not cover spouses or dependents of eligible Veterans.

Is there a premium waiver option for VALife?

No, by law, there is no premium waiver option for VALife.

More information

To learn more about VALife, visit the program website here:

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