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More than 31,000 Veterans sign up for new VA life insurance program in first year
WASHINGTON — Today, January 11, the Department of Veterans Affairs announced that its new guaranteed-acceptance life insurance program, VALife, has issued more than $950 million in coverage to 31,400 Veterans in its first year.
When VALife first launched in January 2023, it became the first new VA life insurance program for Veterans in more than 50 years and extended life insurance access to millions of Veterans. VALife provides up to $40,000 of whole life insurance to our nation’s Veterans. For all Veterans age 80 or under with service-connected disabilities from 0-100%, acceptance in the program is guaranteed and no medical underwriting is required. Veterans can apply online through VA.gov and receive an instant decision. This program also allows self-service functions like electronic payments and beneficiary updates.