Effective March 1, the maximum amount of life insurance coverage available under Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI) increased from $400,000 to $500,000. Service members who separated with SGLI coverage of $450,000 or $500,000 on or after March 1 can convert their coverage to VGLI in an amount up to or equal to the SGLI coverage they had at separation. They can purchase coverage in $10,000 increments.
Veterans currently enrolled in VGLI will not have their coverage increased automatically. They must meet eligibility criteria before they can purchase additional coverage. Under the existing VGLI Buy-Up benefit, eligible VGLI members under age 60 who had the prior maximum coverage of $400,000 will now have the option to purchase additional coverage in $25,000 increments. This additional coverage will be available without medical underwriting during specified coverage anniversary periods.
The Office of Servicemembers’ Group Life Insurance (OSGLI) administers the VGLI program and will contact eligible VGLI members to alert them of the opportunity to obtain additional coverage.
Life insurance is important for income replacement, end-of-life costs, and financial flexibility. For these reasons, we encourage you to share this information with Veterans and transitioning service members so they can take action to purchase additional coverage. For additional online information regarding VGLl, click here.