Veterans Life Insurance Loans

General Loan Program Requirements
A veteran who has a service-connected disability but is otherwise in good health may apply for up to $10,000 in life insurance coverage at standard insurance rates within two years from the date of being notified of service-connected status. Veterans who are totally disabled may apply for a waiver of premiums. For those veterans who are eligible for this waiver, additional coverage of up to $20,000 is available. Premiums cannot be waived on the additional insurance. Policyholders who have permanent plans of insurance may also borrow up to 94% of the cash value of the policy. Service-disabled veterans must apply for this insurance within 2 years from the date they are initially rated for a service-connected disability.

Loan Program Description
United States Government Life Insurance (USGLI) . USGLI was generally issued to veterans of World War I. This program is closed to new applicants.

National Service Life Insurance (NSLI) . NSLI was generally issued to veterans of World Was II. This program is closed to new applicants.

Veterans' Special Life Insurance (VSLI) . VSLI was generally issued to Korean War veterans. This program is closed to new applicants.

Service Disabled Veterans Insurance (S-DVI) . SDVI was generally issued to World War II, Korean and Vietnam veterans separated on or after April 25, 1951, with a service -connected disability. This program still open to qualifying applicants.

Veterans Reopened Insurance (VRI) . VRI was generally issued to World War II and Korean veterans with service-connected or serious non-service connected disabilities. This program is closed to new applicants.

A loan may be obtained at the end of the first policy year of a whole life or endowment plan of insurance which has loan value and is enforce on a premium-paying basis or is paid-up. A loan may also be obtained on paid-up additional insurance attached to either permanent or term plans of insurance. Loans are granted in any amount up to ninety-four percent of the policy's reserve value, minus any existing indebtedness against the policy, plus interest.

Loan Terms
Variable Interest Rate between 5-12% with no Upfront Fees or Pre-payment penalties. Maximum Loan Length at maturity. Maximum Loan Amount 94% of the policy reserve value. Annual Payment Frequency.

Loan Application Process
A policyholder can apply for a loan by filing VA Form 29-1546, Application for Policy Loan. This application can be either faxed toll-free to1-888-748-5828 or mailed to:

Department of Veterans Affairs Regional Office and Insurance Center
P.O. Box 7327
Philadelphia, PA. 19101

Loan Program Contact Information
For more information please visit:

If you want to know how to apply for S-DVI or have questions about your insurance policy call:
800-669-8477

Loan Managing Agency
U.S. Department of Veterans Affairs