We might distinguish between the following VA Life Insurance Programs: Servicemen’s Group Life insurance coverage, Traumatic Service members’ Group Life insurance, Veterans’ Group Life insurance and Servicemen’s Group Life insurance coverage for clarification purposes.

SGLI VA Life Insurance

SGLI was set up in September of 1965 to provide team insurance policies for people on active duty in the uniformed services. Protection has been somewhat adjusted to include ready Reservists, retired Reservists, members of the National Guard, and ROTC associates while employed in approved training and service. In the beginning highest protection may have been for 10 thousand dollars, but subsequent legal guidelines may have improved the highest insurance policy up to 400 thousand dollars.

TSGLI VA Life Insurance

TSGLI grew to become effective on December 1, 2005 as a distressing injuries safety rider under SGLI. For experts and service associates who endured possibly protected upsetting damage while helping in Operation Enduring Freedom (OEF) or perhaps Operation Iraqi Freedom (OIF). The policy may be   retroactive to October 7, 2001 for those who qualify. It can offer repayment of twenty-five thousand to one hundred thousand dollars to people of the uniformed services and veterans protected by SGLI who support specific losses as a result of upsetting injuries.

VGLI VA Life Insurance

VGLI was set up in August 1974 to help the conversion process of SGLI to a possible five year non renewable term insurance policy. This program may offer the exchanging of SGLI with VGLI in a sum comparable to or under the total amount of SGLI the associate had in force at the completion of military service.

Application and repayment for VGLI may be made to the Office of Servicemen’s Group Life Insurance within one hundred twenty days subsequent of military release. When the application is created the applicant should be of an appropriate health condition. Should you be completely impaired at the time of leaving the military, there tends to be a small extension, not to surpass 12 months plus the one hundred and twenty day initial time period, for application. For additional data regarding VA life insurance rates and additional types of life insurance make sure to read “Finding the Best Life Insurance for You“.