Attention A T users. To access the menus on this page please perform the following steps. 1. Please switch auto forms mode to off. 2. Hit enter to expand a main menu option (Health, Benefits, etc). 3. To enter and activate the submenu links, hit the down arrow. You will now be able to tab or arrow up or down through the submenu options to access/activate the submenu links.
Get more information on the Veterans Benefits Banking Program
Get more information on the VA Anti-Harassment and Anti-Sexual Assault Policy
 

Life Insurance

Additional VA Life Insurance: Veterans' Special Life Insurance (Korean War Program)

 

The Insurance Act of 1951 established a program to meet the insurance needs of Korean War service personnel and veterans. During this period, all service members on active duty were covered by $10,000 of free insurance under a program known as Servicemen's Indemnity.

Photo: Korea 1951, 7th U.S. Infantry Division (Courtesy of Arms and Armour Press, At War in Korea from a U.S Army Photo)
Korea 1951, 7th U.S. Infantry Division
(Courtesy of Arms and Armour Press, At War in Korea from a U.S Army Photo)

They remained covered under Servicemen's Indemnity for 120 days after their discharge. Newly discharged veterans could then apply for Veterans Special Life Insurance (VSLI) which was renewable term insurance. The VSLI program was closed to new issues at the end of 1956. Effective January 1, 1959, VSLI term policies could be converted to permanent plans of insurance or exchanged for a limited convertible term policy. Today there are 51,331 policies still in force . Annual dividends are paid on these policies. The maximum face amount of a policy is $10,000. However, this limit does not include paid-up additional insurance which can be purchased with the annual dividends. Certain disability benefits are available under these policies for policyholders who become totally disabled before their 65th birthday.

Return to Program Descriptions Page

return to top go
pFad - Phonifier reborn

Pfad - The Proxy pFad of © 2024 Garber Painting. All rights reserved.

Note: This service is not intended for secure transactions such as banking, social media, email, or purchasing. Use at your own risk. We assume no liability whatsoever for broken pages.


Alternative Proxies:

Alternative Proxy

pFad Proxy

pFad v3 Proxy

pFad v4 Proxy