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VALife is a new whole life insurance program that will replace the existing Service-Disabled Veterans Insurance (S-DVI). On January 1, 2023 the VA will begin enrolling veterans in VALife.
There are multiple types of life insurance available in the marketplace. Whole life insurance features fixed monthly premiums (based on age at enrollment) and the policy is available for the individual’s entire life. In plain English that means the monthly premium will never increase and an eligible party cannot lose coverage. Additionally, the money paid to the policy beneficiary is fixed.
The VALife insurance program is available to veterans who received a rating for a service-connected disability before reaching the age of 81. Veterans who applied for benefits due to a new service-connected disability before turning 81, and receive a rating after turning 81, have two years after receiving the rating decision to enroll in this program.
Veterans can purchase insurance through VALife in $10,000 increments up to a maximum of $40,000. After paying the monthly premium for two years the policy is fully vested. The policy beneficiary will receive a payout of $10,000-$40,000 upon the Veteran’s death. If a policy holder dies in the two years between program enrollment and vesting the beneficiary will receive all premiums paid to that point plus interest.
Below are selected monthly premium rates under the VALife program. Please contact Stone Rose Law if there are any questions about the premiums or an age not listed.
| Age | Monthly Premium for $10,000 VaLife Coverage | Monthly Premium for $20,000 VaLife Coverage | Monthly Premium for $30,000 VaLife Coverage | Monthly Premium for $40,000 VaLife Coverage |
| 20 | $11.60 | $23.20 | $34.80 | $46.40 |
| 30 | $15.60 | $31.20 | $46.80 | $62.40 |
| 40 | $22.30 | $44.60 | $66.90 | $89.20 |
| 50 | $33.00 | $66.00 | $99.00 | $132.00 |
| 60 | $50.10 | $100.20 | $150.30 | $200.40 |
| 70 | $78.00 | $156.00 | $234.00 | $312.00 |
| 80 | $127.50 | $255.00 | $382.50 | $510.00 |
No new applications for S-DVI will be accepted after December 31, 2022. There are additional considerations related to keeping the legacy program without electing a VALife policy and enrolling in VALife while holding a vested S-DVI policy. Until December 31, 2025, Veterans with a vested S-DVI policy, who elect to switch to VALife, will retain their original policy during the vesting period. If the Veteran passes during the two-year vesting period, their beneficiary will receive the full benefit under the legacy S-DVI program.
Stone Rose Law is the largest military and veteran’s benefits law firm in the state of Arizona – although we are proud to represent clients all over the world. Lead by experienced trial attorneys and military veterans, our firm has the knowledge, training, and experience necessary to obtain the benefits our country’s heroes have earned. One of these benefits is whole life insurance. If you have any questions related to either life insurance program, or service-connected disabilities, contact us online or give us a call at 480-498-8998 and experience the difference Stone Rose Law can make.
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