VALife: guaranteed-acceptance life insurance for service-connected veterans

VALife is a whole life insurance policy sold by VA to veterans with a service-connected disability. It accepts every eligible applicant, with no medical exam and no health questions, and a 0% rating qualifies.

The terms that matter

• Coverage up to $40,000, chosen in $10,000 steps.
• Age. You must generally apply at 80 or younger. Veterans over 80 have a limited window in some circumstances, described on VA's page.
• The two-year wait. Full coverage begins two years after the policy starts. If you die during those two years, VA returns the premiums paid, with interest, rather than paying the face amount.
• Premiums. This is paid insurance. The monthly premium is set by your age at the time you apply and by the coverage amount, and it does not rise afterwards. VA's page has the table.

Is it worth it

That depends on what other insurance you have, your age and what $40,000 would do for the people you leave behind. What VALife offers that a private policy may not is acceptance regardless of health. What it does not offer is a large face amount or coverage from day one. Both are stated on VA's page; read the table before applying.

Related

• Back to A 0% VA rating still counts.