Veteran's SGLI and VGLI Life
Insurance Policies
On Veteran's
Day 1998 President Clinton signed into law a provision to allow terminally ill veterans to
receive accelerated death benefits.
The Department of Veterans Affairs (VA) will pay these benefits under the Servicemembers'
Group Life Insurance (SGLI) and Veterans' Group Life Insurance (VGLI) programs.
Terminally ill SGLI and VGLI policyholders will be able to receive up to half of the face
value of their coverage, up to a maximum of $100,000 during their lifetimes.
"This option will greatly improve the quality of the final days of the
servicemember's or veteran's life, providing them and their families much-needed finances
for medical care and other essentials," said VA Under Secretary for Benefits Joseph
Thompson.
Until this
measure was signed, veterans did not have the same opportunity as government employees who
owned SGLI and VGLI policies. Now veterans will be able to access up to half the death
benefits from their life insurance without incurring the huge loss of funds by selling to
a viatical provider.
SOURCE: U.S. Department of Veterans Affairs
