Government Life Insurance
Veterans are eligible to have one of two types of insurance purchased by
them after discharge: Servicemen's Group Life (SGLI) or Veterans Group
Life (VGLI). Not all veterans elected to purchase this type of insurance,
so benefits are not guaranteed to all.
The amount and method of payment is determined by the veteran, as is the
beneficiary designation. Thus it is to your benefit to be sure that the
beneficiary and optional settlement designation on file with the VA is the
one you desire.
Our office will assist you in finding out if a policy is in force and
completing an designated form that distributes you insurance in the manner
you wish.
Dividends
Dividends are payable to holders of the following types of insurance: "K,
V, RS, W, J, JR, and JS." No application is necessary as they are paid
automatically on the anniversary date of the participating policy.
Dividends are not payable to holders of "H" or "RH" policies.
Insurance Hoax
For forty years there has been a story making the rounds that states in
varying ways that "Congress has recently passed legislation that grants
an insurance dividend to all veterans who served in time of war (WWII,
KOREA, VIETNAM)." The hoax says that you will receive benefits based on
the number of months that you were in the service and that it doesn't
matter if you still make payments on your insurance. ***Wrong***
"NO ONE WILL PAY YOU AN INSURANCE DIVIDEND FOR THE TIME YOU WERE IN THE
SERVICE. INSURANCE DIVIDENDS GO TO THOSE PEOPLE WHO PAY INSURANCE
PREMIUMS, ON ACTIVE POLICIES IN FORCE NOW, ONLY."
Surviving Spouse
To qualify for most benefits, the veteran's spouse must have lived
continuously with the veteran from the time of marriage until death (this
excludes separations due to accident, illness, or other extenuating
factors), for at least one year, or for any length of time if a child was
born to them before or after marriage.
Child
To qualify, the child must be:
(1) under 18 years of age (or under 23 years of age if attending an
approved school) or
(2) of any age if permanently incapable of self-support by reason of
mental or physical defect prior to age 18. The term "child" includes an
illegitimate, adopted, or stepchild of the veteran.
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