VA life insurance, also known as Servicemembers' Group Life Insurance (SGLI), is a program offered by the Department of Veterans Affairs (VA) to provide life insurance coverage to eligible veterans and service members. Here are the eligibility criteria for VA life insurance:
1. Active Duty Servicemembers: Active duty servicemembers are automatically covered under SGLI. They are eligible for coverage of up to $400,000.
2. Reservists and National Guard Members: Reservists and National Guard members are eligible for SGLI coverage if they are scheduled to perform at least 12 periods of inactive training per year. They can also apply for coverage of up to $400,000.
3. Separated Servicemembers: Separated servicemembers can convert their SGLI coverage to Veterans' Group Life Insurance (VGLI) within 1 year and 120 days from the date of separation. VGLI provides renewable term life insurance coverage.
4. Veterans: Veterans who were insured under SGLI and are in good health can convert their coverage to VGLI within 1 year and 120 days from the date of separation. Veterans who are totally disabled at the time of separation can apply for up to $10,000 in Service-Disabled Veterans' Insurance (S-DVI).
5. Spouses and Dependent Children: Spouses and dependent children of eligible servicemembers and veterans may be eligible for coverage under Family Servicemembers' Group Life Insurance (FSGLI).
It's important to note that there may be additional eligibility requirements and limitations for VA life insurance. For more detailed information and to determine your specific eligibility, it is recommended to contact the Department of Veterans Affairs or visit their official website.
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