Best Life Insurance Options for Veterans (2026)

The best life insurance for veterans depends on where you are in life. If you left the military recently, VGLI lets you keep up to $500,000 of coverage without a health review. If you have any service-connected disability rating, even 0%, VALife offers up to $40,000 of whole life coverage you can't be turned down for. If you're healthy and need a large amount for a set number of years, private term life often costs less, and older veterans can add private final expense coverage for funeral costs.

This guide compares VA programs and private policy types side by side. It doesn't rank insurance companies, and we aren't part of VA. We're a matching service, not an insurer; licensed agents we connect you with may offer policies from some of these companies. See how we review companies.

What life insurance options do veterans have?

Veterans have 3 main VA programs open to new applicants and 3 main types of private coverage.

Sources: VA pages for VGLI, VALife, and VMLI. Private policy terms vary by company and state.

S-DVI isn't in the table because it no longer takes new applications. We cover it below.

Is VGLI a good option after you leave the military?

VGLI is often the strongest choice if you have health conditions, because it doesn't check your health if you apply within 240 days of leaving service.

According to VA's VGLI page, you can get between $10,000 and $500,000, up to the amount of SGLI you had. The deadline to apply is 1 year and 120 days after you leave; after 240 days, you must show you're in good health. VA prices VGLI only by age and coverage amount, not by gender or tobacco use, and you can keep it for life as long as you pay.

The trade-off is cost as you age. VGLI rates step up every 5 years. Here is what $100,000 of coverage costs per month, from VA's rate table effective July 1, 2025:

Check VA's VGLI page for current rates. VA has also announced a premium holiday: eligible VGLI policyholders don't need to pay premiums from November 1, 2026, through January 31, 2027, and coverage continues.

Two more features matter. If you started with less than the maximum, VA lets you add $25,000 one year after getting VGLI and every 5 years after that, up to $500,000, until age 60. And you can convert VGLI to a permanent policy, such as whole life, with a participating company at standard rates without proving good health. For a full cost comparison, see VGLI vs. term life insurance, and for deadlines, see our guide to SGLI to VGLI conversion.

Who should consider VALife?

VALife fits veterans with a service-connected rating who want a small, permanent policy with a price that never goes up.

VA's VALife page says any service-connected rating qualifies you, even 0%, if you're 80 or younger, and there's no deadline to apply after your rating. Veterans 81 and older can qualify only in limited cases tied to when they applied for compensation. Coverage runs from $10,000 to $40,000 in $10,000 steps, and approval is automatic if you meet the rules.

Keep these limits in mind:

• 2-year wait. Full coverage starts 2 years after you apply. If you die sooner, VA pays your beneficiaries the premiums you paid plus interest.
• No loans or premium waivers. Cash value starts building 2 years after approval, but VALife doesn't offer loans.
• Price set at your age when you apply. VA's table lists $10,000 of coverage at $50.00 a month at age 60 and $78.00 at age 70 (page last updated May 15, 2026).

Our full guide to VALife covers rates at every age and how to apply.

What happened to S-DVI?

Service-Disabled Veterans Life Insurance (S-DVI) stopped taking new applications after December 31, 2022, and VALife replaced it on January 1, 2023.

If you already have S-DVI, VA says you can keep it without doing anything. Some basic S-DVI policies still include a premium waiver for veterans who are totally disabled, and that waiver doesn't transfer to VALife. Before you switch, compare your S-DVI premium, coverage amount, any waiver, and loan access with what VALife would give you. For many veterans with a waiver, keeping S-DVI is worth a close look.

What is VMLI, and who qualifies?

Veterans' Mortgage Life Insurance (VMLI) pays up to $200,000 toward the mortgage of a veteran with a severe service-connected disability who adapted a home with a Specially Adapted Housing grant.

VA's VMLI page says you must hold title to the home, have a mortgage on it, and be under 70. The money goes straight to the lender, not to your family, and coverage shrinks as the balance falls. It ends if you pay off the loan.

When does private term life make sense for veterans?

Private term life often makes sense if you're in good health, don't use tobacco, and need a large amount of coverage until your kids are grown or your mortgage is paid.

VA's own comparison page says private term may be a good option if you're healthy and want a premium that won't change during the term. The downsides VA lists: you may need a health review or exam, insurers often price on gender and tobacco use, and coverage ends when the term ends.

Private insurers look at your health history, not your VA rating. For example, a hypothetical veteran rated for a healed knee injury may be treated very differently from one with heart disease, which can raise the price or lead to a decline. Our guide to life insurance with a VA disability rating explains how private underwriting treats common service-connected conditions.

When is private whole life or final expense a better fit?

Private whole life or final expense coverage fits veterans who want coverage for life at a fixed price, often to pay for a funeral and final bills.

Whole life builds cash value and usually costs more than term for the same amount, as VA's comparison page notes. Final expense insurance is a smaller whole life policy, usually aimed at funeral-size needs. It comes in two main forms:

• Simplified issue. You answer health questions. If you qualify, many policies pay the full benefit from day one.
• Guaranteed issue. No health questions, but many policies have a graded benefit for the first 2 years, similar to VALife's waiting period.

VA burial benefits can help too, but they are set allowances and don't cover every funeral cost. Private final expense coverage can stack on top of VALife or VGLI to cover what VA doesn't.

Which option fits your situation?

Match your situation to the options most likely to fit, then compare prices.

The NAIC suggests basing the amount on the income your family depends on, your debts, and final expenses. Our life insurance calculator can help you estimate a number.

Can you combine VA and private life insurance?

Yes. The VALife FAQ says you can hold other VA policies, such as VGLI or VMLI, along with commercial life insurance.

Combining is common. A veteran might keep VGLI while the kids are young, add VALife for permanent coverage, and buy a small private final expense policy for funeral costs. If you plan to replace VGLI with a private policy, the NAIC advises not to cancel existing coverage until the new policy is in force.

For more veteran-specific guides, visit our veterans life insurance hub.