Disability Insurance Benefits, VA Life Insurance
There are two types of disability insurance benefits awarded under VA life insurance policies. These are:
Most VA Insurance policies contain a waiver a premiums provision in the event that the insured becomes totally disabled. Generally, to qualify for a waiver of premiums:
There are certain exceptions to the above conditions. However, if you believe that you are eligible for a waiver of premiums, you should apply as soon as possible. VA will determine your eligibility and notify you of the decision. Use VA Form 29-357, Claim for Disability Insurance Benefits which can be downloaded from this site. In most cases, premiums can only be waived up to one year prior to receipt of a claim.
A TDIP rider provides for monthly payments to be paid to an insured starting on the first day of the seventh month of his or her continued total disability. Payments continue as long as the total disability continues. This provision is available on all NSLI policies, except S-DVI ("RH") and VRI ("JR" and "JS").
Policyholders must apply for TDIP before their 55th birthday and the applicant must be in good health.
Total disability income provision benefits are payable to individuals who:
If the insured is totally disabled and qualifies for TDIP payments, he/she is also entitled to a waiver of premiums on the basic contract and the TDIP rider. To apply use VA Form 29-357, Claim for Disability Insurance Benefits.