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Convert your SGLI to VGLI Coverage

Servicemembers’ Group Life Insurance (SGLI) policyholders can convert their life insurance to Veterans’ Group Life Insurance (VGLI) after discharge.

VGLI is set up very much like SGLI and is administered by the Office of Servicemembers’ Group Life Insurance (OSGLI). VGLI is personal life insurance and VGLI benefits will not interfere with veteran’s disability compensation or other military benefits. VGLI can only be issued up to $400,000 and cannot be issued for more insurance than the veteran held at the time of separation. VGLI is issued in $10,000 increments and can be raised or lowered up to the veteran’s maximum allowable amount. For example, if you had $300,000 in life insurance at the time of separation you could opt to carry $100,000 of VGLI for the first few years and raise it later to the $300,000 level. However, you would not be able to raise your VGLI at that point to $400,000. It is a good idea before leaving service to raise your SGLI level to the maximum using the Servicemembers’ Group Life Insurance Election and Certificate, Form SGLV 8286.

Service members who have full-time SGLI coverage will be sent a preprinted form to transfer to VGLI by the OSGLI after separation from service. If you haven’t received this form, you can also use Form 8714 to apply for VGLI available from the VA. This application should be filled out and returned within 120 days of discharge with a copy of your separation papers. From 120 days-1 year, the service member may still apply for VGLI but a health screening will be required.

SGLI has a two-year Total Disability Extension that will allow the soldier to extend his/her SGLI benefits for free for two years after separation. At the end of this period the service member will automatically be enrolled in VGLI and be billed for VGLI premiums.

Part-time SGLI members cannot convert their policy to VGLI unless they are disabled in the line of duty. SGLI and VGLI policies can co-exist at the same time if you return to service but the total amount of the two policies cannot exceed $400,000. You will most likely want to submit the paperwork to cancel VGLI and return to SGLI if you return to service because SGLI is less expensive.

VGLI premium rates are scaled according to your age, unlike SGLI premiums. You will want to compare these rates with other insurance options available to you to make sure that you are getting the best policy to suit your needs and the needs of your family.

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