Editor's note: The Department of Veterans Affairs stopped accepting applications for Service-Disabled Veterans Life Insurance (S-DVI) in December 2022. Beneficiaries who already had the plan were allowed to keep it. The following were the program's details while in full effect.
Veterans who are granted a service-connected disability but are otherwise in good health may apply to the Department of Veterans Affairs for up to $10,000 in life insurance coverage.
What Is Service-Disabled Veterans Life Insurance?
Service-Disabled Veterans Life Insurance (S-DVI) is the VA's offering of a variety of permanent life insurance plans as well as term life insurance. Policies were issued for a maximum face value of $10,000.
Veterans who are granted a service-connected disability rating but are otherwise in good health may apply to the VA for up to $10,000 in life insurance coverage at standard insurance rates within two years from the date VA notifies them that they have a service-connected disability.
Veterans who are totally disabled can get a waiver of the monthly premiums. For those who are eligible for this waiver, an additional policy of up to $30,000 is available. However, premiums can't be waived on the additional insurance.
Who Is Eligible for S-DVI?
You are eligible if:
- You were released from active duty under other than dishonorable conditions.
- You were rated for a service-connected disability (even if only 0%).
- You are in good health except for any service-connected conditions.
- You apply within two years from the date the VA grants your service-connected disability (VA granting an increased disability percentage doesn't count).
What Is the Basis for S-DVI Premium Rates?
Premiums are based on your age and amount of coverage you purchase. Before you apply for S-DVI coverage, you should compare the premium rates to commercial insurance companies. If your disability isn't serious, you may be able to find better rates from a commercial company.
Who Can Get Supplemental S-DVI?
Veterans who are eligible for the premium waiver can get an additional policy of up to $30,000 if they pay the premiums for it. Veterans must be under age 65 and apply for supplemental S-DVI within one year from the notice of the approved premium waiver.
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Gratuitous S-DVI
Gratuitous Service-Disabled Veterans Insurance (S-DVI) is granted posthumously to veterans who:
- Met the basic eligibility requirements for S-DVI.
- Didn't apply for S-DVI because of a continued mental incompetence due to a service-connected disability.
- Died before the appointment of a guardian or within two years of such appointment.
VA must receive an application for payment of Gratuitous S-DVI within two years from the date of the veteran's death.
If the person making the claim is mentally or legally incompetent and did not file the claim in time, VA can accept the application within one year after incompetency ends.
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