Published on July 26, 2014
Knowing More about Insurance for Veterans: Knowing More about Insurance for Veterans Our veterans are often revered as heroes and are given the respect they are due because of everything that they have done for our country with their selfless sacrifices and service. But no matter how much we revere and respect them, they are still human beings like everyone else and they too have loved ones and interest that need protecting to ensure that they have a bright and secure future ahead of them. Life insurance for veterans is something that can give them just that and this article will explain some important details about this benefit. This form of insurance is available for all active duty members of the armed forces as well as its reserve members after they get discharged from service. Also known as the Veterans’ Group Life Insurance or VGLI , the coverage lasts after the service member is discharged and will last until his or her death. The ones who will receive the benefits are those who the service member’s designated beneficiaries. When applying for this insurance coverage, it is important to remember that all eligible veterans must apply no sooner than 45 days after getting discharged from service. To be more specific, they must apply at least no later than a year and 4 months after getting discharged. Not doing this means that they will have to automatically forfeit any coverage that they were entitled to. Applying no sooner than 120 days means they will not need to show any proof of good health. They will only need to show proof of good health if they apply 120 days after getting discharged---failure to do so means they will be disqualified automatically. Whatever the case, the premium of the first month must be enclosed. So whether you are actively serving or are done with your service for the military, you can rest easy knowing that this sort of benefit awaits you. Serving your country is a noble thing, but it is not without its hardships, which is why giving our veterans some insurance is a good way of paying them back. For more information on veteran’s insurance, you can visit http://www.asmba.com .