VGLI is a government-backed life insurance program that allows veterans to convert their SGLI coverage after leaving military service. It offers guaranteed issue coverage up to $400,000 with no medical exam but premiums increase every 5 years.
Veterans Group Life Insurance (VGLI) is administered by the Office of Servicemembers Group Life Insurance (OSGLI) and provides renewable term coverage for veterans who had SGLI while in service.
The biggest drawback of VGLI is the increasing premiums. By age 70-80, VGLI premiums can be extremely expensive compared to level-premium private policies. Many veterans find it worthwhile to keep VGLI as a backup while securing a private policy with fixed rates for better long-term value.
Compare rates from top veterans life insurance insurance carriers.
Top carriers for veterans include USAA (military exclusive), Navy Federal partner carriers, Mutual of Omaha (veteran-friendly underwriting), and Protective Life (competitive rates). The best company depends on your health, disability status, and coverage needs. Read more
Private life insurance is usually better than VGLI for healthy veterans. VGLI rates increase every 5 years and become very expensive after age 50. Private policies lock in your rate and often cost 40-60% less than VGLI. Read more
To convert SGLI to VGLI, apply within 240 days of separation from military service using VA Form SGLV 8714. No medical exam is required if you apply within this window. Coverage can be up to your SGLI amount, maxing at $400,000. Read more
Compare rates from top veterans life insurance insurance carriers.