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January 2023 www.ThriftyBee.biz To advertise call (775)727-8787 PAGE 13
Check Out Our New Location
Life Insurance From the VA
As of now, for the first time in 50 years, the
Department of Veterans Affairs is opening up
enrollment in Veterans Affairs Life Insurance,
aka VALife. Veterans who are age 80 or under,
with any level of service-connected disabilities,
are guaranteed to be accepted to receive up to
$40,000 in whole life insurance.
A bonus is that there is no requirement for med-
ical underwriting, meaning that no one is going
to squint at the health details of your application
and try to decide whether or not to offer you
insurance.
The VALife changes are to the existing Service-
Disabled Veterans Insurance (S-DVI):
-- You’ll be able to apply online and get a fast
decision.
-- There is no time limit to apply (the existing
insurance requires you to sign up for life insur-
ance within two years).
-- There is no good-health requirement (the ex-
isting insurance requires you to be healthy, ex-
cept for conditions that are service connected).
-- You can now apply for $40,000 in insurance Come See Our New Showroom!!
(the existing insurance limits you to $10,000).
Before you sign up, read about whole life in-
surance versus term insurance. Whole life can
stay with you for your lifetime as long as you 775 253 8744 1240 STATE ST. 110 111
keep paying the premiums, and it accumulates
a cash value that you can withdraw or borrow
from. Term insurance is for a specific period of
time and doesn’t accrue cash value. BUT whole
life costs more, sometimes a lot more. Do your
homework and know what you’re getting if you
sign up for the VA’s whole life. With This Ring
A fact to notice: With the VALife policy, it will
build cash value for two years and then convert
to face value. If the veteran dies during the two Marriage Ceremonies/Unions
years, beneficiaries will get back the premiums
paid, plus interest. Rev Denise Flanagan
If you currently have the old S-DVI, you’ll be
able to switch over to the VALife, should you Available at your
choose to do so.
To see the fine print, go to www.benefits.va.gov/
insurance/valife.asp. Click on the Cost link to location!
see a chart showing the premiums.
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