Assistance program
Life Insurance for Veterans – Face Amount of New Life Insurance Policies Issued
$1.0 Billion committed in FY2018–FY2021
- Agency
- Veterans Benefits Administration, Veterans Affairs, Department of
- Assistance
- Insurance
- CFDA number
- 64.030
- What it does
- To provide Service Disabled Life Insurance (S-DVI) protection for other than dishonorably discharged Veterans who are service disabled and who separated from active duty on or after April 25, 1951, and to provide Veterans Mortgage Life Insurance (VMLI) for Veterans and Servicemembers who have been granted Department of Veterans Affairs (VA) specially adapted housing benefits. 38 U.S.C. 1922; 38 U.S.C. 2106. These programs represent new contingent liabilities of VA and are reported under this CFDA program.
- Who benefits
- S-DVI proceeds are payable to designated beneficiaries. 38 U.S.C. 1917(a). S-DVI may also be granted under certain conditions to mentally incompetent Veterans who were otherwise eligible for such insurance, but due to their incompetency, died without filing an application. 38 U.S.C. 1922(b). VMLI proceeds are payable to the holder of the mortgage loan. 38 U.S.C. 2106(e).
- Who applies
- VA may issue S-DVI to a Veteran discharged under other than dishonorable conditions from active military duty, on or after April 25, 1951, who has been granted service connection for a disability, and who, if not for the service-connected disability(ies), would be otherwise insurable in accordance with established standards of good health. The Veteran must apply for coverage within two years from the date of notification of the decision granting service connection. 38 U.S.C. 1922(a). A Veteran insured under S-DVI who qualifies for waiver of premiums, is under age 65, and applies within one year from date of notice from VA that he/she qualifies for waiver of premiums, may be issued Supplemental S-DVI coverage. 38 U.S.C. 1912(a); 38 U.S.C. 1922A(a). A Veteran or Servicemember granted VA specially adapted housing benefits will be sent notice that he/she is automatically eligible to be insured for VMLI unless he/she elects in writing not to be so insured, or fails to respond within 60 days after VA sends a final request for information on which premiums can be based. 38 CFR 8a.3(a).
- Authorized by
- The Housing and Economic Recovery Act of 2008
- The Veterans’ Benefits Act of 1992
- The Mortgage Protection Life Insurance Act of 1971
- The Servicemen’s Indemnity and Insurance Act of 1951
- Program site
- http://www.benefits.va.gov/INSURANCE/index.asp ↗
Committed by fiscal year
Recipients
This program's money is paid out as non-itemized direct payments — USAspending records it under a single aggregate, so individual recipients aren't listed. The dollars and agencies above are complete; the recipient roster isn't part of the public record for programs like this.
How to read these numbers
- Committed through this program
Money committed under this assistance listing (its CFDA program), counted in the year each action happened.
- How it's paid
Most programs pay out one way — a grant, or a direct payment to individuals; the flow bar only appears when a program genuinely mixes types.
- Some recipients aren't itemized
For entitlement programs like Social Security and Medicare, the government reports one aggregate instead of naming tens of millions of people, so the recipient roster isn't part of the public record.
- Awards, counted once
An award count is the number of distinct awards with at least one action that year — each counted once, however many times it was amended.
- The colored bars
Every bar on this page splits by how the money moves:
Direct payments