{"id":70042,"date":"2024-01-11T15:00:02","date_gmt":"2024-01-11T15:00:02","guid":{"rendered":"https:\/\/one.sightlinemg.com\/marinecorpstimes\/uncategorized\/2024\/01\/11\/new-life-insurance-program-for-disabled-vets-sees-high-demand\/"},"modified":"2026-08-08T15:38:27","modified_gmt":"2026-08-08T15:38:27","slug":"new-life-insurance-program-for-disabled-vets-sees-high-demand","status":"publish","type":"post","link":"https:\/\/one.sightlinemg.com\/marinecorpstimes\/veterans\/2024\/01\/11\/new-life-insurance-program-for-disabled-vets-sees-high-demand\/","title":{"rendered":"New life insurance program for disabled vets sees high demand"},"content":{"rendered":"\n<p class=\"wp-block-paragraph\">More than 31,000 <a href=\"https:\/\/www.militarytimes.com\/veterans\/2023\/12\/18\/disability-payouts-help-some-vets-earn-more-than-healthy-peers\/\" target=\"_blank\">disabled veterans<\/a> received life insurance coverage through<a href=\"https:\/\/www.militarytimes.com\/veterans\/2022\/11\/29\/new-life-insurance-program-for-disabled-vets-to-launch-in-january\/\" target=\"_blank\"> a new targeted federal program<\/a> last year, a total that Veterans Affairs officials said underscores the interest in the offerings and the need for wider outreach on its availability.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><a href=\"https:\/\/www.va.gov\/life-insurance\/options-eligibility\/valife\/\" target=\"_blank\">The VALife program<\/a> \u2014 open to veterans aged 80 and under with no disqualifications for medical reasons \u2014 was launched in January 2023 to expand available life insurance options for disabled veterans. It was the first new life insurance offering by the department in more than 50 years.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Congress mandated the new insurance program in 2022. Ahead of last year\u2019s launch, VA officials said that more than 4 million individuals would be eligible for up to $40,000 in coverage through the new policies but did not know what the interest in the program would be.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Daniel Keenaghan, executive director of VA\u2019s Insurance Service, said the department has been pleased by the response so far, with about 31,400 veterans signing up for $950 million in coverage last year alone.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cHaving such a solid response demonstrates that we\u2019re filling a gap veterans saw,\u201d he said. \u201cWe have some testimonials from veterans \u2026 who see the coverage as a lifesaver, because they couldn\u2019t get insurance through the private sector due to existing service-connected disabilities.\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Keenaghan said his office is now looking to further publicize the VALife program, based on a belief that many eligible veterans still do not know about the low-cost offering. The insurance policies have been included in outreach efforts over the last year, and officials said they regularly see sign-ups increase with each new round of distribution of information materials at large veterans events.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">Keenaghan also said his office is looking at potential improvements in the future, to possibly include higher coverage totals and potential financial aid tied to the policies.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">The department currently handles life insurance policies for roughly 5.6 million troops, veterans and family members, totaling $1.5 trillion of coverage. More information on all of the plans is <a href=\"https:\/\/www.va.gov\/life-insurance\/\" target=\"_blank\">available at the VA website<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Veterans can get up to $40,000 in life insruance coverage through the program regardless of their health status.<\/p>\n","protected":false},"author":7,"featured_media":31723,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_yoast_wpseo_meta-robots-noindex":"","_yoast_wpseo_meta-robots-nofollow":"","_yoast_wpseo_canonical":"","_acf":"","_yoast_wpseo_primary_category":19,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","_smg_distribution_targets":[]},"categories":[101,7,23,12,25,67,19],"tags":[],"coauthors":[3226],"class_list":["post-70042","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-daily-news-roundup","category-education-transition","category-home","category-news","category-newsletters","category-pentagon-congress","category-veterans"],"acf":{"subheadline":"","legacy_arc_id":"HILIJ7B465FJXFHF566CSEQD6A","arc_canonical_url":"\/veterans\/2024\/01\/11\/new-life-insurance-program-for-disabled-vets-sees-high-demand\/","remove_feature_photo":false,"is_sponsored":false,"subtype":"","redirect_url":"","disable_inline_ads":false,"native_logo_pretext":"Presented By:"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.0 (Yoast SEO v28.1) - 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