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Life Insurance For Veterans

Life Insurance For Veterans

Government Life Insurance Options

When it comes to war veterans, there is a wide array of insurance options available that are specifically customized for them. These government life insurance policies for veterans are offered through the Department of Veterans' Affairs, which deals with retired military personnel and war veterans. A limit of $400,000 has been set for benefits through such life insurance policies for veterans. However, a person must apply for VLGI within one year and 120 days before signing off from their military service. If for some reason, a person fails to apply for this scheme within the stipulated time period, he/ she would no longer be eligible to benefit from it.

Other Life Insurance Options for Veterans

If you have missed the bus to sign up for a VGLI or are no longer eligible to apply for it, you may consider buying a policy through a private life insurer. With respect to the plan than you opt for, a private life insurer may be able to provide you with better customer service and more flexibility. You could also convert your life insurance plan into an investment opportunity by purchasing a universal or variable life policy through a private insurer. With added flexibility, it would be a lot easier for you to plan your and your family's future requirements.

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