Life Insurance Programs

Servicemembers' Group Life Insurance (SGLI)

SGLI is a Department of Veterans Affairs program which provides up to a maximum of $400,000 to beneficiaries payable upon death in a lump sum, or in 36 equal monthly installments if they or their beneficiary so choose.

Veteran's Group Life Insurance (VGLI)

Veterans' Group Life Insurance is a program that allows individuals to convert their Servicemembers' Group Life Insurance to five-year renewable term coverage. Below are some of the features of VGLI:

• VGLI offers coverage in multiples of $10,000 up to $400,000, not to exceed the amount of SGLI in force at the time of separation/retirement from service.
  
• VGLI can be renewed throughout lifetime or converted to an individual commercial life insurance policy at standard premium rates.
  
• VGLI has no cash, loan, paid-up or extended insurance values.

Family Servicemembers' Group Life Insurance (FSGLI)

Family SGLI provides life insurance coverage to the spouses and dependent children of members insured under the Servicemembers’ Group Life Insurance (SGLI) program.

The spouses and dependent children of all servicemembers (Active Duty and Ready Reserve) who have full-time SGLI coverage are automatically insured under Family SGLI unless the member declines the coverage in writing.

Traumatic Servicemembers' Group Life Insurance (TSGLI)

Traumatic Servicemembers' Group Life Insurance (TSGLI) helps severely injured Soldiers through their time of need with a one-time payment. The amount varies depending on the injury, but it could be the difference that allows their family to be with them during recovery; helps them with unforeseen expenses; or gives them a financial head start on life after recovery.

Service-Disabled Veterans Insurance (S-DVI)

Service-Disabled Veterans Insurance is life insurance for veterans who have received a service-connected disability rating by the Department of Veterans Affairs. The basic S-DVI program, commonly referred to as "RH Insurance", insures eligible veterans for up to $10,000 of coverage.

Veterans Mortgage Life Insurance(VMLI)

The Veterans Mortgage Life Insurance (VMLI) program was begun in 1971 to provide mortgage life insurance to severely disabled veterans. To be eligible, a veteran must have received a Specially Adapted Housing Grant from VA. The purpose of such grants is to help the veteran build or modify a home to accommodate his or her disabilities. VMLI is payable only to the mortgage holder (i.e., a bank or mortgage lender), not to a beneficiary. The amount of coverage equals the amount of the mortgage still owed but the maximum can never exceed $90,000. This is decreasing term insurance which has no loan or cash values and pays no dividends. This program is still open to new issues.