2022 AFBA Financial Planning Guide

VGLI Monthly Premium Rate Chart — Effective April 1, 2021

Amount of Insurance

Age Group






$28.00 $36.00 $48.00 $64.00 $84.00 $132.00 $240.00 $396.00 $588.00 $904.00

$21.00 $27.00 $36.00 $48.00 $63.00 $99.00 $180.00 $297.00 $441.00 $678.00

$14.00 $18.00 $24.00 $32.00 $42.00 $66.00 $120.00 $198.00 $294.00 $452.00 $856.00 $900.00

$7.00 $9.00

$3.50 $4.50 $6.00 $8.00

Through age 29 Age 30 thru 34 Age 35 thru 39 Age 40 thru 44 Age 45 thru 49 Age 50 thru 54 Age 55 thru 59 Age 60 thru 64 Age 65 thru 69 Age 70 thru 74 Age 75 thru 79 Age 80 and over

$12.00 $16.00 $21.00 $33.00 $60.00 $99.00 $147.00 $226.00 $428.00 $450.00

$10.50 $16.50 $30.00 $49.50 $73.50 $113.00 $214.00 $225.00

$1,712.00 $1,800.00

$1,284.00 $1,350.00

your premiums, update your beneficiaries, and manage your account at https://giosgli.prudential.com . The amount of initial VGLI coverage is limited to the amount of SGLI coverage had while serving on active duty. However insureds under age 60 with less than $400,000 of coverage, may purchase up to $25,000 of additional coverage every 5 years up to a $400,000 maximum without medical underwriting. Payments for VGLI coverage are made by the insured and are sent directly to the Office of Servicemembers’ Group Life Insurance. The premium cost will depend on both the level of protection and your age. The table above shows representative rates for VGLI. A complete rate table is available at www.benefits.va.gov/insurance . VGLI is a five year renewable term policy. Every five years the program allows the insured to renew their coverage at either the current benefit level or a lower benefit level. Premium cost is determined by age at time of renewal. Also, VGLI coverage may be converted to an individual life insurance policy at any time with a commercial company that participates in the program. VGLI is similar to SGLI in that it does not build up either a cash or loan value; you can name as a beneficiary any person, firm or legal entity; and, settlement options of either lump sum or 36 monthly payments are available. Accelerated Benefit. The SGLI, FSGLI, and VGLI programs offer an accelerated benefit option for insured members who are terminally ill. Under this option the insured may elect to

receive up to 50% of their coverage in a lump sum prior to their passing. To be considered terminally ill, the insured must have an anticipated life expectancy of nine months or less. Office of Servicemembers’ Group Life. The SGLI and VGLI programs are administered by the Office of Servicemembers’ Group Life Insurance. Further information on entitlements, rates, and eligibility can be found online at www.benefits.va.gov/insurance or by calling 1–800–419– 1473. Veterans’ Mortgage Life Insurance (VMLI). This program was created to assist totally disabled veterans who receive (or will receive) a grant to buy or build a house which has been or will be specially adapted to their particular disability. VMLI has since been extended to disabled active duty service members and service members and veterans who suffer from severe burn injury. VMLI pays the holder of the mortgage note in the event that the veteran dies before his or her home mortgage is paid in full. The present level of protection is set at a maximum of $200,000. The monthly premium cost is determined by the veteran’s age, the balance of the mortgage, and the remaining time the mortgage has to run. Veterans must apply for VMLI before their 70th birthday. 6–9. OTHER VETERAN BENEFITS. Veterans may also be eligible for a number of other benefits including Reemployment Rights, Federal Job Preference, and Discharge Review.


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