Veterans Notes: New whole life policy pays up to $40,000

VALife offers competitive rates, costs the same across all genders and backgrounds, and once enrolled, rates will never go up.

David Anderson
David Anderson
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What is VALife? VA’s newest life insurance program, Veterans Affairs Life Insurance (VALife), increases access to life insurance for more service-connected veterans than ever before.

VALife is a guaranteed acceptance whole life insurance product that launched on Jan. 1, 2023, for Veterans age 80 or under with any level of service-connected disability (0-100%). Veterans age 81 or over may qualify if they meet certain conditions.

  • Key features of VALife include:
  • Coverage up to $40,000, available in $10,000 increments.
  • Competitive premiums.
  • No health questions or medical exam to enroll.
  • No deadline to apply if you are age 80 or under.
  • Convenient online application and enrollment.
  • Easy deductions from VA benefits (no cash out of pocket).
  • Cash value that builds over the life of the policy, after the first two years of enrollment.

How much does VALife cost? VALife costs the same across all genders and backgrounds, and once enrolled, rates will never go up. In most cases, rates are competitive with, or better than, similar private sector guaranteed acceptance programs.
Rates will not increase for the life of the policy and do not change based on medical conditions.

Premiums are based on a veteran’s age upon enrollment and the coverage amount selected.

Can VALife premiums be waived? VALife does not offer waiver of premiums. Unlike Service-Disabled Veterans Life Insurance (S-DVI), by law, there are no circumstances under VALife where premiums can be waived.


What is the waiting period? VALife has a two-year waiting period for the full-face coverage to take effect. This waiting period is a common feature of guaranteed acceptance whole life insurance programs.

Veterans must pay monthly or annual premiums during this two-year waiting period. If the insured’s death occurs during these first two years, all premiums paid plus interest will be disbursed to the designated beneficiary. When death occurs more than two years after enrollment, the full face amount of the policy will be paid.

You can learn more about VALife and sign up to receive updates through the quarterly newsletter here: .

As always please see your local County Veterans Service Officer if you have any questions. You can contact your Wadena County VSO at (218) 631-7617 or by email at
In Becker County, call 218-846-7312 and in Otter Tail County call 218-385-5540, and as always – have a great week!

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