(Photo: SteveBuisinne)
VALife, the VA’s life insurance program, has exceeded expectations by providing low-cost coverage to more than 31,000 Disabled Veterans in its first year.
Launched in January 2023, as a result of a mandate from Congress in 2022, VALife is the first new life insurance offered by the department in over 50 years. This program expands life insurance options for Veterans aged 80 and under with no disqualifications for medical reasons. Veterans meeting the eligibility criteria can get life insurance coverage of up to $400,000 through the VALife program, regardless of their health condition. Last year, more than 31,400 Disabled Veterans signed up for a total coverage amount of $950 million through the VALife program.
Eligibility for VALife is straightforward. Veterans qualify with any VA service-connected disability rating, even if it is at 0 percent. Importantly, there is no time limit to apply after receiving the disability rating. Additional criteria must be met, including applying for VA disability compensation before turning 81 and applying for VALife within 2 years of receiving the disability rating.
Interested individuals can check the VALife monthly premium rates based on their age. Information on all available plans can be found on the VA website here.
Response to the program exceeded expectations, as many Veterans view the coverage as a lifesaver. Daniel Keenaghan, the executive director of VA’s insurance service, expressed satisfaction with the program’s response, emphasizing that it fills a gap for Veterans who couldn’t obtain insurance through the private sector due to existing service-connected disabilities.
Looking ahead, the department wants to increase awareness of the VALife program, acknowledging that many eligible Veterans may still be unaware of this low-cost offering. Outreach efforts, including the distribution of information materials at large Veterans events, have been instrumental in boosting sign-ups, but the focus is now on further publicizing the program.
Keenaghan acknowledged that there is room for improvement and expansion. His office is exploring potential improvements for the future, contemplating higher coverage totals and potential financial aid tied to the policies. As of now, the department manages life insurance policies for approximately 5.6 million troops, Veterans, and family members.
For more information on all available plans, Veterans are encouraged to visit the VA website or contact the VA Life Insurance Center at 800-669-8477 (TTY: 711) between 8:30 a.m. to 6:00 p.m. ET.
Author: Rikki Almanza
Rikki is a Web Content Coordinator for the American Legion, Department of California. With a deep-rooted connection to the military, a spouse who is a Navy veteran, a father who served in the Air Force for 25 years, and a grandfather who proudly served, Rikki is committed to using her skills and knowledge to provide valuable assistance and resources to servicemembers and veterans.
