Veteran’s group life insurance can only be applied if they have fully coverage in service member life insurance which was given during their active service period and it is applicable only if they pay the premium that is necessary.VGLI provides or make coverage’s up to 10000$ to 40000$ and you can also increase your coverage from 25000 to 30000$ under certain criteria like the age should be below 60 years .this additional coverage is applicable for every 5 years. Policy holders can convert their VGLI coverage to commercial policy by paying a standard interest every month.
Eligible criteria
The first eligible criteria are the person should have completely insured under service member life insurance during his active period as veterans. The person should have retired or released from the duty or any duty that that is not upheld for less than a month, or the person should have released as active veterans from the National guard. Under any circumstance if the people is considered as disabled during his service period they are eligible for If the person is injured during his duty period and if they are considered as temporary disabled persons.
How to enroll in Veterans groups life insurance
Apply online through OSGLI OSGLI (office of service membership life insurance) apply through this online portal Login the website and download the applicationFill in the application using the required details that you will get through faxResend the mail in the specified mail id.
Veterans can apply to this life insurance within a year or after 4 months of leaving the military duty.
If the insurance is claimed within 8 months then the veterans need not have to produce they health and fitness certificate, if they are applying after 8 months then they need to submit the required documents
Payments for the coverage
The payment may vary from 30 $ per month to 3$ then depends on the coverage that they have taken for example if they have taken 400000$ they need to pay 30 $ as premium and iff they opted for 10000 to 20000$ they need to pay 2$ People of age above 30 to 80 are eligible to take this policy and the premium all relies on the type of insurance policy taken.
Benefits of Veterans groups life insurance
There is no need of producing any kind of health and mental fitness certificate to activate this insurance policy if the veterans apply within 8 months of their active service periodThey policy doesn’t reject if the veterans use or have any habit like drinking or smokingThere is no enrollment fee if they stat the policy It provides maximum coverage’s staring from 10000$ to 400000 $ at very affordable and low premiumsVGLI is convenient that is you can change your VGLI to individual payment insurance policy
Conclusion
Veteran’s group life insurance is a beneficiary insurance given to veterans after they get insured under service member life insurance which will allow them to convert SMLI policy to VGLI after they get retired from their active services. VGLI provides or make coverage’s up to 10000$ to 40000$ and you can also increase your coverage from 25000 to 30000$ under certain criteria like the age should be below 60 years .this additional coverage is applicable for every 5 years. Policy holders can convert their VGLI coverage to commercial policy by paying a standard interest every month.
Frequently asked question
How to apply for veteran’s group life insurance?
You can apply to this policy using the office of service membership portal where you need to fill in the application and with required documents.
Who can apply for veteran group life insurance?
The veterans who have applied for SGLI can convert to VGLI and he should have retired from the services.
What is the coverage’s that is given to veteran group life insurance?
The veterans have coverage’s ranging from 10000$ to 400000 $ at very affordable and low premiums. In addition they are also eligible to claim extra coverage of 30000$ if they are below 60 years for every five years for a rate of 5$ extra per month.
Who are covered under this veterans group life insurance?
In this policy the veterans and the former service members are eligible to claim the insurance policy.
