If you have a Disability rating of at least 0% (yes, there is apparently a 0% rating) then you qualify for a new broader iteration of life insurance coverage provided by the Department of Veteran Affairs called VALife.

The program provides coverage across 4 tiers (from 10,000 to 40,000). Program premiums are based on your age and which amount you choose.

The chart for the premium costs can be found on the VA website.

Stipulations are that you have to have a service-connected disability claim before the age of 81. After 81 you can still apply for the life insurance benefit but must receive a grant for disability and apply within two years of notification of the grant.

One of the downsides to VALife is that your beneficiaries will not receive the full amount of your coverage within the first two years from when you begin the monthly payments on your policy. Prior to 2 years, the amount paid into the program will be refunded instead. The plus side is that after two years this enables you to borrow from your coverage amount which, I believe, wasn’t possible before now.

Some veterans have commented on how this is effectively taking their entire disability payment which will be truer for older veterans as their monthly premium is much higher those about 40 or younger.