Federal Benefits for Veterans and Dependents - CT.gov
Federal Benefits for Veterans and Dependents - CT.gov
Federal Benefits for Veterans and Dependents - CT.gov
You also want an ePaper? Increase the reach of your titles
YUMPU automatically turns print PDFs into web optimized ePapers that Google loves.
56 VA Life Insurance Chapter 6commercial insurance company.Accelerated Death <strong>Benefits</strong>SGLI, FSGLI <strong>and</strong> VGLI policyholders who are terminally ill (prognosisof nine months or less to live) may request one time only up to 50percent of their coverage amount in advance.Service-Disabled <strong>Veterans</strong>’ InsuranceA veteran who was discharged under other than dishonorable conditions<strong>and</strong> who has a service-connected disability but is otherwisein good health may apply to VA <strong>for</strong> up to $10,000 in life insurancecoverage under the Service-Disabled <strong>Veterans</strong>’ Insurance (S-DVI)program. Applications must be submitted within two years from thedate of being notified of the approval of a new service-connecteddisability by VA. This insurance is limited to veterans who left serviceon or after April 25, 1951.<strong>Veterans</strong> who are totally disabled may apply <strong>for</strong> a waiver of premiums<strong>and</strong> additional supplemental coverage of up to $20,000. However,premiums cannot be waived on the additional insurance. To beeligible <strong>for</strong> this type of supplemental insurance, veterans must meetall of the following three requirements:1. Be under age 65.2. Be eligible <strong>for</strong> a waiver of premiums due to total disability.3. Apply <strong>for</strong> additional insurance within one year from the date ofnotification of waiver approval on the S-DVI policy.<strong>Veterans</strong>’ Mortgage Life Insurance<strong>Veterans</strong>’ Mortgage Life Insurance (VMLI) is available to severelydisabled veterans who have been approved <strong>for</strong> a Specially AdaptedHousing Grant. Maximum coverage is $90,000, <strong>and</strong> is only payableto the mortgage company. Protection is issued automatically, providedthe veteran submits in<strong>for</strong>mation required to establish a premium<strong>and</strong> does not decline coverage. Coverage automatically terminateswhen the mortgage is paid off. If a mortgage is disposed of throughsale of the property, VMLI may be obtained on the mortgage of anotherhome.Insurance Dividends Issued AnnuallyWorld War I, World War II, <strong>and</strong> Korean-era veterans with active policiesbeginning with the letters V, RS, W, J, JR, JS, or K are issued
Change language