Veterans who are granted a service-connected disability but are otherwise in good health may apply to VA for up to $10,000 life insurance coverage from the VA.
Service-Disabled Veterans Insurance
S-DVI is available in a variety of permanent plans as well as term insurance. Policies are issued for a maximum face amount of $10,000.
Veterans who are granted a service-connected disability but are otherwise in good health may apply to VA for up to $10,000 in life insurance coverage at standard insurance rates within two years from the date VA notifies them that they have a service-connected disability.
Veterans who are totally disabled can get a waiver of the monthly premiums. For those who are eligible for this waiver, an additional policy of up to $30,000 is available. Premiums, however, cannot be waived on the additional insurance.
Eligibility For S-DVI Insurance
You are eligible if you if:
- You were released from active duty under other than dishonorable conditions on or after April 25, 1951
- You were rated for a service-connected disability (even if only 0%)
- You are in good health except for any service-connected conditions
- You apply within 2 years from the date VA grants your service-connected disability (VA granting an increased disability percentage doesn't count)
Premiums For S-DVI Insurance
Premiums are based on your age and amount of coverage you purchase. Before you apply for S-DVI coverage, you should compare the premium rates to commercial insurance companies. If your disability is not serious, you may be able to find better rates from a commercial company.
Veterans who are eligible for the premium waiver can get an additional policy of up to $30,000. Premiums, however, cannot be waived on the additional insurance. They have to be under age 65 and apply for supplemental S-DVI within one year from the notice of the approved premium waiver.
Visit the Military.com Insurance Center to get information, advice, tips and to learn more about your life, auto, renters, and long-term care insurance options.
Gratuitous Service-Disabled Veterans Insurance (S-DVI) is granted posthumously to veterans who:
- Met the basic eligibility requirements for S-DVI
- Didn't apply for S-DVI because of a continued mental incompetence due to a service connected disability
- Died before the appointment of a guardian or within two years of such appointment
VA must receive an application for payment of Gratuitous S-DVI within two years from the date of the veteran's death.
If the person making the claim is mentally or legally incompetent, and did not file the claim in time, VA can accept the application within one year after incompetency ends.
Compare Commercial Rates Against S-DVI
As mentioned, S-DVI rates may be higher than commercial coverage. Supplemental coverage may also be advisable to cover your family's needs. Explore life insurance options with our free tool that compares rates and matches you to the coverage your family needs.