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Life Insurance
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Veterans Affairs Life Insurance (VALife) Frequently Asked Questions
Life Insurance
Veterans Affairs Life Insurance (VALife) Frequently Asked Questions
FAQ Topics
Applying for VALife
Communications
Premiums
Coverage
Claims
Account Changes
How Getting VALife Impacts Your S-DVI
Applying for VALife
How can I apply?
By accessing the VALife online application.
When will I receive a decision?
The online application provides an immediate decision.
NOTE: In some rare situations, an employee reviews an application.
How long does it take to get a copy of my policy?
Once approved, you will receive an application confirmation at the time your application. Within 4-5 days, you can log into your online account and print out a copy of your policy pages.
How does an incompetent Veteran apply?
An authorized power of attorney, legal guardian, or VA Fiduciary may apply on behalf of an incompetent Veteran.
The online application provides a DocuSign version of the application for the Veteran’s power of attorney, Guardian or fiduciary to apply. Please attach a copy of authorization with the form.
Can someone else manage my account for me?
A power of attorney, legal Guardian, or VA Fiduciary may manage or make changes to the policy on behalf of the Veteran with proper authorzation on file. Please note that a specific court order is required for any beneficiary changes to beneficiary designations.
A power of attorney, legal Guardian, or VA Fiduciary cannot have an online account on behalf of a Veteran. To make account changes, an authorized agent must complete a VA Form 29-10279, VALife Policy Maintenance Form. It can be sent and completed via DocuSign.
How do visually impaired Veterans apply?
Visually impaired Veterans, can complete the 508-compliant online application.
How can I get assistance with applying?
For help, contact your local Veteran Service Organization (VSO) or county/state Veteran Affairs Office. You can also call the VA Insurance Center at 1-800-669-8477.
How can I find a Veteran Service Organization or County/State Veterans Affairs Office to assist me?
VA’s Office of General Counsel maintains a list of VA-recognized organizations and VA-accredited individuals that are authorized to assist in preparing, presenting, and prosecuting VA benefit claims.
You can find a representative of a recognized VSO, attorney, or claims agent by state/territory, zip code, or the VSO's name online using eBenefits.
You can also request help at your nearest VA Regional Benefit Office. Use our VA-recognized VSOs collocated with VA directory.
Communications
What does email communications mean? And will I receive correspondence via regular mail or email?
VALife applicants have the option to receive updates via email, text message (also referred to as SMS text) or both.
VALife is designed to be as automated and paperless as possible. If you decide to opt out of receiving email or texts, you will receive paper communications.
For those applying as guardian, power-of-attorney or VA fiduciary on behalf of a Veteran, they will receive paper correspondence. Currently, these individuals do not have access to a Veteran’s online Insurance account.
Premiums
Do premiums increase with age or are they locked in when I sign up?
Premiums for VALife do not increase. They are locked in at the rate you pay when you enroll.
Will I get a bill for premium payments due?
You will receive an email of your bill either monthly or every year based on your payment plan.
You will use the access code provided in the email to pay your bill through Treasury’s pay.gov website.
If paying via monthly deduction from your VA compensation, military retirement pay or your checking account, you will not receive a bill. These deductions occur automatically each month.
How do I determine my premium rate before enrollment?
Your premiums are based on your "insurance age." If you are less than six months from your last birthday when you applied, your premium is on your current age.
If you are less than six months from your next birthday, your premium rate is based on your age on your next birthday.
Can I have my premiums waived for VALife?
VALife does not offer premium waivers.
How often do I have to pay my premium?
Premium mode options are monthly and annually. Monthly premium payments are the only option if paying by deduction from your VA compensation, military retirement pay or pre-authorized checking.
If you pay through e-billing (pay.gov), you can choose to pay monthly or annually. There is a discount rate of 2.5 percent for paying premiums annually.
How can I make my premium payments?
Premiums can be deducted from your VA compensation, military service retirement pay, or your checking account. You can also make payments directly through E-billing (pay.gov) via debit card, credit card, PayPal or Amazon Pay through the pay.gov website.
Why do I have to pay two months of premiums to enroll in VALife?
Payments made through automatic deductions from VA Compensation/Pension and military retirement pay require two months of premiums to cover the time frame needed to establish the recurring deduction.
Payments made through E-billing and checking accounts require one month’s premium to enroll in VALife.
What if I don’t want to/am unable to pay two months of premiums at the time of application (for those who choose to pay by deduction from VA Compensation, retirement pay or checking account)?
If you do not want to or are unable to pay two months’ premium at the time of application, choose “Pay premiums directly to VA” as your payment method. This requires you to pay only one month’s premium with your application.
After your application is approved, you can log into your online account or call us to switch your payment method to “Monthly deduction from my VA compensation."
What happens if I miss one or more payment(s)?
There is a grace period of 31 days to pay the premium. The policy will lapse if you do not pay within 61 days of the due date.
In the event of a policy lapse, you must reapply within 2 years from the lapse and pay back all premiums plus interest (if applicable) to reinstate your policy.
Veterans aged 81 or older cannot reinstate a lapsed VALife policy.
Coverage
How much coverage can I get?
The maximum coverage under VALife is $40,000.
You can get lesser coverage in increments of $10,000.
The full-face amount of coverage takes effect two years after enrollment as long as premiums are paid during the two-year waiting period.
Why do I have to wait two years before the full coverage takes effect?
VALife is a guaranteed acceptance product.
Under this type of coverage, the face amount of coverage takes effect two years after enrollment as long as premiums are paid during the two-year period.
If the insured dies within the two-year waiting period, then the beneficiary will receive all premiums paid plus interest.
What if I decide to cancel my coverage, can I get my money back?
If you cancel your policy within 31 days of enrollment, you will receive a full refund of the premiums paid.
The policy begins earning cash value after being inforce (all premiums are paid) for two years. If you cancel your policy more than two years after enrollment, you can receive the cash value of your policy or use it for extended term insurance.
The cash value is less than the amount of premiums paid. If you cancel your coverage within the two-year waiting period, there will be no return of funds (unless canceled within 31 days of enrollment), as there is no cash value.
If you later want to establish your policy again, you will have to apply for a new VALife policy and wait a new two-year period before the full amount of coverage takes effect.
Does my VALife policy offer loans?
No, VALife does not offer loans.
How can I use the cash value for VALife?
Your policy will begin earning cash value after the initial two years of enrollment. In the event of a policy lapse, you can use cash value for extended term insurance. You may also surrender the full or partial policy amount (increments of $10,000) for cash value.
How can I update my beneficiary?
You can update your beneficiary by completing VA Form 29-336, Designation of Beneficiary – Government Life Insurance. You can upload the signed form using our secure document upload portal.
Claims
How much money will my VALife policy pay out as a claim?
If you die within the two-year waiting period, all premiums paid plus interest are paid to the beneficiary.
If you die two years or more after enrollment, the full insurance amount elected by you will be paid to the beneficiary.
How quickly will my beneficiaries receive the claim money?
The average time to pay a death claim is 2-5 business days.
Are there any restrictions on the claim being paid? For example, suicide or suspicious death?
There is no suicide exclusion for payment of a VALife death claim. Also, the beneficiary must be ruled out from any involvement in the insured’s death before a claim can be paid.
Are you a Veteran in crisis or concerned about one?
Please know, you are not alone. The Veterans Crisis Line is here for you.
It provides 24/7, 365 days a year of free access to live confidential support with a real person. They are qualified to support Veterans, Service members, National Guard and Reserve members, and those who support them.
Enrollment isn't necessary to call.
Dial: 988 then press 1
Text: 838255
Chat Online
Can I hold other life insurance policies in addition to this policy?
Yes.
You can have other commercial policies or VA life insurance policies like Veterans’ Group Life Insurance or Veterans’ Mortgage Life Insurance.
Account Changes
How can I make changes to my account after my application is approved?
As a Veteran, you can make changes through the Online Policy Access portal.
How Getting VALife Impacts Your S-DVI
Why did I receive a notification that my S-DVI is going to terminate?
The law that created the VALife program has a provision that Veterans cannot be insured under both S-DVI and VALife beyond the initial two-year enrollment period in VALife. If you applied using the online web application, you were informed at the time of application that your S-DVI would terminate two years after enrolling in VALife. VA is reminding all Veterans who have both S-DVI and VALife that their S-DVI is going to end.
VA is sending a series of notifications to all Veterans covered under both program to ensure they are aware.
Why wasn’t I told I couldn’t keep both S-DVI and VALife when I applied for VALife?
The online web application informs Veterans who have S-DVI that their VALife will terminate after they have been enrolled in VALife for two years. The application confirmation page also informs Veterans of their S-DVI termination date, and a notification is sent to Veterans following approval for VALife that their S-DVI will terminate.
VA is sending these notifications to Veterans to remind them that their S-DVI will end.
I don’t want to lose my S-DVI coverage. Can I keep it?
You have the option to keep your S-DVI coverage if you cancel your VALife coverage. By law, if you enroll in VALife before January 1, 2026, you cannot keep both S-DVI and VALife beyond the initial two-year enrollment period in VALife. For those who enroll on or after January 1, 2026, S-DVI will terminate as soon as the VALife policy is approved.
Once my S-DVI terminates, can I choose to reinstate it and cancel my VALife?
No, once S-DVI terminates you cannot reverse it. Your decision on which policy to keep must be made before your S-DVI terminates.
Can I get a refund of my VALife premiums that I’ve paid if I choose to keep my S-DVI?
VALife premiums cannot be refunded unless you were approved within the past 31 days, and you submit a written request that you no longer desire to keep your VALife policy. If you had passed away, your S-DVI coverage and a refund of all VALife premiums plus interest would have been paid to your beneficiaries.
What happens to the cash value of my whole life/permanent plan S-DVI policy?
Any cash value will be given to you via Direct Deposit if we have your account information on file. Otherwise, it will be mailed to you.
Note: Any S-DVI insured who has term capped reserve value will receive that value when their S-DVI terminates.
Since I can’t keep both policies, should I keep my S-DVI or my VALife?
While we can’t advise you on what you should do, you should consider the following when deciding which coverage is best for you:
- How much coverage do you need? VALife provides up to $40,000 in coverage while S-DVI offers $10,000 in basic coverage.
- How much are your premiums for S-DVI vs. VALife?
- Do your S-DVI premiums increase over time (term insurance)? VALife premiums never increase beyond the premium rate at which you enroll.
- Do you have waiver of premiums on your S-DVI policy? VALife does not offer waiver of premiums.
- Is your S-DVI policy paid-up? VALife does not offer paid-up insurance.
- Do you want to have the option to borrow against your policy? For S-DVI policyholders who have a permanent plan or reduced paid-up policy, you can take a loan against your policy, while VALife does not offer loans.
