As a veteran, you've served your country — and now it's time to make sure your family is protected. While the VA offers life insurance options like SGLI and VGLI, many veterans don't realize that private life insurance may offer better coverage at a lower cost. In this guide, we'll compare all your options so you can make the best decision for your family.
SGLI (Servicemembers' Group Life Insurance)
SGLI provides up to $500,000 in coverage for active-duty service members at a very low cost (about $25/month for the maximum). It's automatic and easy — but it ends 120 days after you separate from service. After that, you have the option to convert to VGLI or purchase private coverage.
VGLI (Veterans' Group Life Insurance)
VGLI is the VA's post-service life insurance option. It provides up to $500,000 in coverage with no medical exam required (if you apply within 240 days of separation). However, VGLI premiums increase every 5 years based on your age, and they become significantly more expensive than private insurance over time. A 35-year-old veteran might pay $40/month for $400,000 in VGLI coverage, but by age 50, that same coverage could cost $120+/month.
Private Life Insurance for Veterans
Many veterans can get better rates with private life insurance — especially if they're in good health. Private term life insurance offers locked-in premiums for the entire term (10, 20, or 30 years), often at rates lower than VGLI. A healthy 35-year-old veteran might pay $25-$35/month for $500,000 in 20-year term coverage with a private carrier — and that rate never increases.
| Feature | SGLI | VGLI | Private Insurance |
|---|---|---|---|
| Max Coverage | $500,000 | $500,000 | Unlimited |
| Medical Exam | None | None (within 240 days) | Usually required |
| Premium Structure | Fixed (low) | Increases every 5 years | Fixed for term length |
| Availability | Active duty only | Post-separation | Anyone who qualifies |
| Long-term Cost | N/A (ends at separation) | Expensive over time | Often cheapest long-term |
Important Note for Veterans:
Many veterans assume VGLI is their only option after service, but private insurance often provides better value — especially for healthy veterans under 50. The key is to compare rates from multiple carriers before your SGLI conversion window closes. Our advisors specialize in helping veterans find the best coverage at the best price.
Thank You for Your Service
Let us help you find the best life insurance for your family. We'll compare VGLI rates against 48+ private carriers to find you the best deal.
