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January 2023                       www.ThriftyBee.biz       To advertise call (775)727-8787                                       PAGE 13

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                  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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