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What Whole Life coverage does VA offer?

What Whole Life coverage does VA offer?

Starting Jan. 1, 2023, VA will offer a new guaranteed acceptance whole life insurance program called Veterans Affairs Life Insurance (VALife).

What Whole Life coverage does VA offer?

VALife provides guaranteed acceptance whole life insurance coverage to Veterans age 80 and under with any level of service-connected disability.

Guaranteed acceptance is a type of whole life coverage that does not require the applicant to answer health questions or get a medical exam for enrollment. Due to the absence of medical requirements with guaranteed acceptance, there is typically a set waiting period for full coverage to take effect.

VALife meets the needs of service-connected Veterans who may not have previously qualified for life insurance with VA and offers the following benefits:

  • All service-connected Veterans age 80 and under with 0-100% VA disability ratings are eligible.
  • Coverage in increments of $10,000, up to a maximum of $40,000, with premiums that are competitive with what’s available in the private sector, after a two-year waiting period for full face value coverage.
  • No medical requirements for enrollment.
  • Fully automated online enrollment with instant approvals.
  • Cash value that builds over the life of the policy after the first two years of enrollment.
  • Rates are best the earlier you sign up. Once locked in, premiums will never increase.

Term Life versus Whole Life programs

The most common types of life insurance coverage are term life and whole life. Each one can be tailored to the unique financial needs of the individual or family purchasing the policy.


Term life provides protection for a limited amount of time, such as 10, 15, or 20 years. Whole Life provides protection that stays in force for an individual’s entire life.

Cash Value

Term life provides no cash value. Whole life builds cash value over the life of the policy that is available for use. Cash value will generally go up every five years as you age.


Term life premiums are typically less expensive compared to whole life, are set for a fixed term, but will increase if the policyholder decides to renew for another term. Whole life premiums are generally higher and fixed for the life of the policy.


Term life provides death benefits only. Whole life provides death benefits as well as the cash value that builds during the life of the policy.

Advantages of buying Whole Life Insurance

Whole life insurance programs offer a variety of advantages, especially if you are buying at a younger age. For example, if you purchase insurance in your 20s or 30s you can:

  • Lock in a price discount that you’ll keep for the rest of your life.
  • Set aside some savings each month by putting money toward a whole life insurance policy that builds cash value.
  • Grow wealth over time to help pay for life’s expenses.
  • Plan for your family’s future and know that your parents, spouse or other loved ones will not have to struggle financially to pay for your funeral and other final expenses.

To learn more about VALife and whether it’s the right choice for you and your family, please visit the VALife webpage www.benefits.va.gov/insurance

For more information on VA & State benefits, contact Montgomery County Veterans Service at 936-539-7842 or via email at [email protected].

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