New life insurance program for disabled vets sees high demand

More than 31,000 disabled veterans received life insurance coverage through a new targeted federal program last year, a total that Veterans Affairs officials said underscores the interest in the offerings and the need for wider outreach on its availability.

The VALife program — open to veterans aged 80 and under with no disqualifications for medical reasons — 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.

Congress mandated the new insurance program in 2022. Ahead of last year’s 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.