Disabled Veterans Life Insurance
Veterans who have become disabled while serving in the military are eligible for life insurance that comes with helpful benefits and affordable premiums. The S-DVI or Service-Disabled Veterans Insurance program was put in place in 1951 to ensure that disabled veterans would receive the benefits needed to live a healthy , functional life after serving in the Armed Forces. The policies issued for disabled veterans life insurance are worth up to $10,000.
There are certain criteria that veterans must meet in order to be eligible for disabled veterans life insurance. For instance, the veteran must have been honorably released from active duty on or after April 25, 1951. Also, this particularly insurance policy will only cover veterans who have been rated for a service-connected disability; veterans can still receive policy coverage, even if their rating is 0%. Disabled veterans life insurance also covers former soldiers who are otherwise in good health, except for the health problems or injuries sustained while on active duty. In order to receive benefits, veterans must apply for this insurance with two years of being granted a service-connected disability from the Department of Veteran Affairs.
To find out more about how much insurance coverage you and your family will be eligible for, contact your local Department of Veterans Affairs office. The organization can not only help you sign up for the disabled veterans life insurance plan that works best for your budget, but you’ll also find out about health insurance, home loan, and employment benefits that you can take advantage of as a former member of the U.S. Armed Forces.
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