Life Insurance
Veterans Group Life Insurance
Servicemembers who purchased Servicemembers Group Life Insurance (SGLI) while on active duty can convert their coverage to Veterans Group Life Insurance (VGLI) after they have been released from service.
You cannot purchase Veterans Group Life Insurance; it is simply the same amount of Servicemembers Group Life Insurance that you had. So if you purchased $200,000 worth of Servicemembers Group Life Insurance coverage, once converted, you will be entitled to $200,000 worth of Veterans Group Life Insurance. You cannot purchase additional Veterans Group Life Insurance coverage. The amount of Servicemembers Group Life Insurance coverage you purchased while on duty will be the amount of coverage you continue to receive from the VA.
Of course, you’ll still have to pay premiums. To find out how much you will have to pay, consult the Veterans Group Life Insurance Premium Rate Chart.
In order to convert your coverage, you must first “apply”—everyone who is eligible and applies will have their coverage converted to Veterans Group Life Insurance. You can either wait 45 to 60 days from your time of separation to receive your application in the mail, or you can download the application SGLV 8714, Application for Veterans' Group Life Insurance.
You must submit the application and the required premium within one year and 120 days from your discharge. If you submit your application within 120 days of discharge, you don’t need to submit evidence of good health; otherwise, you do.
Once your application has been approved, you will receive a certificate of coverage and you will be billed monthly.
