Beyond VGLI: Long-Term Life Insurance Options for Veterans

Beyond VGLI: Long-Term Life Insurance Options for Veterans

9/18/2023

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September is Life Insurance Awareness MonthAs Life Insurance Awareness Month continues, it’s the perfect time to focus on life insurance options for military members transitioning out of active duty. Veterans’ Group Life Insurance (VGLI) offers between $10,000 and $500,000 in Term life insurance benefits. VGLI cost and benefits are one-size-fits-all, with rates going up every five years and benefits remaining fixed. While the reliability of VGLI is appealing, longer term life insurance policies can offer former and reserve military members coverage with more predictable premiums.

Advantages of Longer-Term Life Insurance 
The security of guaranteed life insurance options is a great starting point, but VGLI is only available to service members and veterans and, depending on the family’s needs, may not be enough coverage. Options like Whole Life and 20- and 15-year Term Life insurance policies allow for long-term peace of mind for both the veteran and family members.

Life Insurance Options from USBA
Maybe the VGLI payout isn’t sufficient for your situation, or perhaps the rate increases every five years are intimidating, or you lead a healthy lifestyle and want to capitalize on great group rates. As a not-for-profit association, USBA offers current and former military members and their families more policy options with higher maximum coverage. A Term or Whole Life policy is a great way to make sure you have the right protection for your family.

  • Term Life Insurance: Lock in cost and coverage with a 15- or 20-year Term policy. Rates are most efficient when purchased at a young age and, while not guaranteed, are expected to remain level for the duration of the policy term.

  • Whole Life Insurance: As implied by the name, Whole Life insurance remains in force for as long as you continue to pay your premiums. With a guaranteed monthly cost, these policies are designed to provide lifelong financial protection. Whole Life policies also accumulate cash value over time.

Getting a Group Life Policy from USBA
Whether you need more coverage for yourself or a family member or need more predictable rates, USBA offers Term Life and Whole Life policies that can provide peace of mind that your family’s future is protected. Call us today at (877) 297-9235 from 9:00 a.m. - 4:00 p.m. Central Time, Monday through Friday (or leave a message after hours for a prompt call back on the next business day). We will help you find the right policy for you and your family.

USBA is a not-for-profit Association that provides group life insurance, health insurance supplements, and other products and services to military personnel, Federal employees, National Guard and Reserve members, Veterans and their families.

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