Reader question:

What kind of Veteran life insurance rates are available to someone who has just finished their duty in the army?

Perry

Excellent question, Perry.

Another type of veteran life insurance rates are those from Veterans’ Group Life Insurance, also called the VGLI. The VGLI is basically a conversion of the group life insurance that is available to an active duty member of the armed forces, and it can become part of the VGLI after they separate from the services.

The VGLI is pretty much limited to whatever amount of coverage you chose while you were still active duty, which is one of its drawbacks. However, it offers coverage for up to $400,000 and is a term life insurance program. If you want to go from Service member Group life insurance to VGLI, you have to send in an application for it.

You are only able to apply for VGLI at least 6 months after you have been discharged, but no more than 1 year after the fact.

The veteran life insurance rates are decided based on how old the veteran applying for the coverage is.

take care,

Fashun.