Reader question:

What kind of VA life insurance rate coverage can i get to cover my debts?

Randy

Glad you asked, Randy.

Although there is no flood of ways to get decent VA life insurance rate coverage, the Veteran’s Association does offer a program called Veteran’s Mortgage Life Insurance Policies. This is not something which is available to all veterans, though. It is specifically targeted at those veterans who have become disabled and who, with the help of the Veteran’s Association, have been granted money to change their home to accomadate their disability, such as adding ramps, lowering counters, and so on.

The mortgage life insurance policies as part of the VA life insurance rate coverage is also pretty limited in scope. The purpose of this policy is to, if the veteran should die, provide money to their family members so that they can pay off the mortgage of their home. Mortgage is a huge cost, so this is very helpful.

However, since it is for mortgage, you might as well cancel your policy once you have finished paying off your house. If you have this policy, you should also get an individual life insurance policy for further protection of your family.

take care,

Fashun.