Life Insurance Rates

Veterans life insurance rates and coverage depend on the particular type of insurance plan a veteran selects. The cost of VA life insurance reflects the amount of coverage that is offered, with the more expensive plans ultimately providing coverage that is more extensive. One of the main differences between veterans life insurance rates and the rates for private insurance is that veteran life insurance can change depending on factors such as how long the veteran has served in the armed forces. Some specific plans provide better costs and coverage for veterans who have been in the armed forces for a longer time. VA disability rates also have an impact on costs and rates for life insurance. Please be aware that rates and coverage may be subject to change. Learn more about veterans life insurance costs by reviewing the following sections:

  • SGLI rates
  • VGLI rates
  • TSGLI rates
  • S-DVI rates
  • VMLI rates

SGLI Rates

SGLI rates (Servicemembers Group Life Insurance) are very straight forward, since SGLI insurance is considered the standard for most service members. SGLI coverage begins at $50,000 increments, going up to a maximum total of $400,000 in coverage. Service members are able to keep their coverage for an additional 120 days after leaving the armed forces. SGLI rates are determined according to how much coverage the veteran requests. Veterans will have to pay SGLI rates at 7 cents per $1,000 worth of coverage. SGLI rates also factor in $1 per month that goes toward traumatic injury coverage.

VGLI Rates

VGLI rates (Veterans Group Life Insurance) can be more difficult to calculate when compared to some other types of veteran life insurance. VGLI rates are based around the age of the veteran who is applying for coverage. As of July 2014, the VGLI rates increased for any veterans who are older than 70 years of age. The base coverage begins at $10,000 and increases in increments of $10,000 up to $400,000. The age brackets for VGLI rates start at 29 years of age or younger, then increase by five years, with the final bracket being 75 years or age and older. The cost of VA life insurance increases according to the age of the veteran.

TSGLI Rates

Among veterans life insurance rates, TSGLI rates (SGLI Traumatic Injury Protection Program) are unique, since they are technically part of SGLI coverage. TSGLI rates are fixed at a flat rate of $1 per month. TSGLI coverage is primarily intended to help veterans who have experienced traumatic injuries incurred while serving. Veterans who have this type of insurance will be paid a certain amount after receiving a traumatic injury, and the amount that the veteran is paid depends on the type of injury. For the most part, coverage benefits range between $25,000 and $100,000, depending on the severity of the injury.

S-DVI Rates

S-DVI rates (Service-Disabled Veterans Insurance) are very similar to VGLI rates, but with very different numbers. Insurance coverage is available starting at $1,000 and increases in increments of $500 up to a total of $10,000. S-DVI rates become higher with more expensive coverage. What makes the veterans life insurance rates for this plan difficult to calculate is the fact that it does not use age brackets. Instead, there are set S-DVI rates for all ages, starting at 16 years of age and going up to 70 years of age.

VMLI Rates

VMLI rates (Veterans' Mortgage Life Insurance) may be difficult to figure out, because several factors go into determining the rates. Veterans who have this kind of coverage are strongly encouraged to either use a VMLI premium calculator to figure out the proper VMLI rates, or instead speak with a legal professional or accountant. The main factors that determine VMLI rates are the age of the veteran, the duration of the housing loan, the current balance that the veteran has paid on his or her mortgage, the total value of their mortgage and how much the veteran requested for VMLI coverage. Veterans are able to request up to $200,000 in VMLI coverage.

Additionally, VMLI rates also change depending on how much insurance entitlement the veteran has remaining. This works out in favor of the veteran, since it means the VMLI rates will keep decreasing as long as he or she keeps putting money into his or her mortgage. A benefit of VMLI coverage is that veterans are able to request a specific amount of money up to $200,000. Unlike other types of insurance, beneficiaries are not limited to a specific bracket.


What Are Food Stamps?

Food Stamps, also known as the Supplemental Nutrition Assistance Program (SNAP), is a federal- and state-funded program that provides low-income Americans with food assistance benefits. Eligible individuals and families can use their state-issued electronic benefit transfer (EBT) cards, which are regularly replenished with a set amount of benefits, to purchase approved food items. Learn more about the SNAP program and how you can start receiving benefits here.


Who Is Eligible to Receive Food Stamp Benefits?

Before you can begin obtaining food items with state SNAP benefits, you must apply to the program and prove that you are eligible. All applicants are subject to various requirements established by the Supplemental Nutrition Assistance Program. These involve household income limits, resource limits, work requirements and more. To find out if you qualify for SNAP benefits, download our guide today.

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