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Life Insurance

Special Dividend Rumor & Phishing Scam

Rumors that Congress approved a "Special Dividend" for veterans who do or do not have Government life insurance have been spread for over 30 years.  These rumors are false and sometimes used to scam veterans.

Phishing Scam

Occasionally, veterans receive emails or written correspondence announcing that Congress has passed a law that would pay a “dividend” of several hundred dollars to veterans who had been or are currently enrolled in SGLI plans. This is a scam! Do not open the file or answer any of the personal questions the email requests! This type of scam always starts off with a possible “gain” for the veteran but ends with the veteran having to provide personal information that can be misused to the detriment of the veteran and their family.

False Rumor

The only dividends being paid by VA are on active Government life insurance policies. Dividends on active policies have been paid annually for many years and policyholders do not need to apply for them. "Special Dividend" rumors are spread by well-meaning people who want to help veterans but fail to check out their sources before passing the information along to others. Notices such as the sample shown below have appeared in veterans' magazines, union newspapers, fraternal publications, newspapers and every other publication imaginable. The hoax has appeared in many forms and seems to change to fit the times. It started in the 1960's as a rumor about veterans with WWII insurance. It has been adapted to state that a dividend is being paid on Servicemembers' Group Life Insurance (SGLI) or Veterans' Group Life Insurance (VGLI) coverage. VA has done everything possible to stamp out the rumor but it still persists.

You can help by returning the false information you received to its source and telling whoever gave it to you that you know for certain there is no such dividend. If you have any questions about this hoax, or any other matter related to veterans issues please don't hesitate to contact us.


Sample Dividend Hoax Notice

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To all Veterans and Families of Veterans

If you are a veteran, or if any of your relatives fall under that category, you may be interested in the following information. A bill was recently passed by Congress entitling veterans to a dividend on the GI Insurance they had while in the service. Both current and former military personnel are entitled to this dividend regardless. If you are a veteran, or if any of your relatives fall under that category, you may be interested in the of whether or not they still carry the insurance. If you are eligible, you WILL NOT receive the dividend unless YOU ASK for it! The Veterans Administration will review each individual case and determine eligibility. A general schedule of dividends earned is as follows:

2 YEARS OF SERVICE: $261.00
3 YEARS OF SERVICE: $391.04
4 YEARS OF SERVICE: $528.00

To apply for the dividend, write to the VETERANS CENTER, P.O. BOX 8079, PHILADELPHIA, PA 19101. REMEMBER: THE VETERANS ADMINISTRATION WILL NOT AUTOMATICALLY SEND YOU THE DIVIDEND. YOU MUST APPLY FOR IT. Complete the form below.

In accordance with the bill recently passed by Congress, I am applying for the "SGLI" insurance dividend based on my prior military service. The specifies of my service are as follows:

NAME:__________________________________
ADDRESS:_______________________________
DATE OF ENTRY INTO ACTIVE SERVICE:_______
DATE OF DISCHARGE:______________________
SGLI NO. (If Known):________________________
BRANCH OF SERVICE:______________________
SERVICE NUMBER:_________________________
DATE OF BIRTH:__________________________
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