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Mortgage Life Insurance

By Kevin Pratt on Tuesday 25 July 2017

In this Article

Mortgage life insurance

What is mortgage life insurance?

Mortgage life insurance covers your mortgage repayments in the event of your death. Also referred to as decreasing term life insurance, the amount of cover decreases in line with how much your mortgage reduces throughout the term of your policy. The average monthly premium of a policy is £25, according to MoneySuperMarket data (April 2017).

Why should I take out mortgage insurance?

Your mortgage is almost certainly the single largest financial commitment you have every month. And if you were to die unexpectedly, the family and dependants you leave behind would still be responsible for continuing to make these payments.

Having such cover in place provides peace of mind, knowing that your family and dependants won’t be forced into an unwanted change of lifestyle.

If you own a house and have dependants who rely on you to pay the mortgage, it’s therefore a good idea to consider this type of life insurance.

Different types of policy

There are three different kinds of mortgage life insurance to consider. The right policy for you will depend on your individual circumstances and the level of payout your family and dependants will require in the event of your death.

Decreasing term insurance

Decreasing term life insurance for mortgage cover is a type of policy where the payout sum reduces in line with your total mortgage debt. The term of your policy will match that of your mortgage – so if your mortgage term is 25 years, your policy term will also be 25 years.

Most policies come with a Mortgage Interest Rate Guarantee (remember to check this on the policy you choose), and so long as your mortgage interest rate is below this guarantee, your policy should pay off any outstanding balance.

For example, if you took out a £150,000 mortgage and died in year one, the amount the insurer would pay out would be £150,000 – therefore clearing the rest of the debt.

If, however, you died 20 years into a 25-year term, the amount you still owed on your mortgage would have reduced. So if you still had £15,000 remaining at this point, the policy would pay out £15,000 in the event of your death.

This kind of policy is suitable for people with repayment mortgages, who repay their mortgage debt off over the term of their deal – not for those who have interest-only mortgages. This is because, with this type of mortgage, you pay only the interest on the capital borrowed and not the capital itself.

A decreasing term mortgage life insurance policy tends to have lower monthly premiums.

Level term insurance

Level term mortgage life insurance is easier to understand. The sum assured stays fixed throughout the duration of your mortgage – so if you take out a policy for £150,000, that’s the amount the provider will pay out regardless of when you die; one year or 20 years in, the amount is the same.

The obvious benefit with level term insurance is that your dependants will usually receive more funds than are needed simply to pay the remainder of the mortgage off, depending on when death occurs.

For example, it may be that they receive the £150,000 when the mortgage debt stands at just £15,000. This means they have a tidy sum and additional funds for other commitments, such as living costs and bills. It can also be used to offset the loss of income through your salary.

Because the sum doesn’t decrease over time, monthly premiums are higher than for decreasing mortgage life insurance.

Whole of life insurance

A third option is something known as a whole of life insurance policy. This pays out whenever you die, so instead of a fixed term policy – which typically lasts for 25 or 30 years – cover is continually provided.

Because there is no set term and the cover could potentially span several decades, monthly premiums tend to be higher than with fixed term policies.

Premiums are also linked to investments, so if investment growth is lower than expected, your premiums can increase substantially over time.

Critical illness cover

Critical illness cover is offered as an extra to mortgage life insurance and level term life insurance policies – you may already have cover in place but this can be added as an additional policy.

Critical illness is designed to pay out if you are suffering with a serious condition – such as cancer, a stroke or heart attack – which affects your ability to work. Coverage varies depending on the insurer, so check the terms and conditions carefully.

If you take out a combined critical illness critical illness and life insurance policy, that policy will only pay out once – you wouldn’t receive a sum upon diagnosis of serious illness and then again should you die during the term of the policy’s coverage.

Getting a quote

Ultimately, the amount you pay for your mortgage life insurance every month will be defined by a number of factors, including the size of the cover you need, the length of time you want the policy to run for and any additional extras – such as critical illness.

Your age and health will also be taken into consideration. If you are a heavy smoker or have suffered with a serious health condition in the past, your premium is likely to be higher than a non-smoker or an individual with better health.

Try to compare a wide range of life insurance policies to get the best possible deal for you and your lifestyle. Remember that cheapest isn’t always best – check exactly what your policy covers before buying it.

Mortgage life insurance

* Based on all mortgage life-only insurance quotes run in April 2017 with cover term more than 25 years and a cover amount of more than £100,000. The price you are quoted is dependent on your individual circumstances so might differ from this figure.

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    Mortgage Life Insurance

    What is mortgage life insurance?

    Mortgage life insurance is a type of life insurance that pays out to cover the cost of your mortgage if you die within the term of the policy – it means your spouse or partner and any dependants won’t need to fund monthly mortgage repayments after your death.

    Your mortgage is almost certainly the single largest financial commitment you have every month. And if you were to die unexpectedly, the family and dependants you leave behind would still be responsible for continuing to make these payments.

    Having such cover in place provides peace of mind, knowing that your family and dependants won’t be forced into an unwanted change of lifestyle.

    If you own a house and have dependants who rely on you to pay the mortgage, it’s therefore a good idea to consider this type of life insurance .

    Different types of policy

    There are three different kinds of mortgage life insurance to consider. The right policy for you will depend on your individual circumstances and the level of payout your family and dependants will require in the event of your death.

    Decreasing term insurance

    Decreasing term life insurance for mortgage cover is a type of policy where the payout sum reduces in line with your total mortgage debt. The term of your policy will match that of your mortgage so if your mortgage term is 25 years, your policy term will also be 25 years.

    Most policies come with a Mortgage Interest Rate Guarantee (remember to check this on the policy you choose), and so long as your mortgage interest rate is below this guarantee, your policy should pay off any outstanding balance.

    For example, if you took out a 150,000 mortgage and died in year one, the amount the insurer would pay out would be 150,000 – therefore clearing the rest of the debt.

    If, however, you died 20 years into a 25-year term, the amount you still owed on your mortgage would have reduced. So if you still had 15,000 remaining at this point, the policy would pay out 15,000 in the event of your death.

    This kind of policy is suitable for people with repayment mortgages, who repay their mortgage debt off over the term of their deal – not for those who have interest-only mortgages. This is because, with this type of mortgage, you pay only the interest on the capital borrowed and not the capital itself.

    A decreasing term mortgage life insurance policy tends to have lower monthly premiums.

    Level term insurance

    Level term mortgage life insurance is easier to understand. The sum assured stays fixed throughout the duration of your mortgage – so if you take out a policy for 150,000, that’s the amount the provider will pay out regardless of when you die; one year or 20 years in, the amount is the same.

    The obvious benefit with level term insurance is that your dependants will usually receive more funds than are needed simply to pay the remainder of the mortgage off, depending on when death occurs.

    For example, it may be that they receive the 150,000 when the mortgage debt stands at just 15,000. This means they have a tidy sum and additional funds for other commitments, such as living costs and bills. It can also be used to offset the loss of income through your salary.

    Because the sum doesn’t decrease over time, monthly premiums are higher than for decreasing mortgage life insurance.

    Whole of life insurance

    A third option is something known as a whole of life insurance policy. This pays out whenever you die, so instead of a fixed term policy – which typically lasts for 25 or 30 years – cover is continually provided.

    Because there is no set term and the cover could potentially span several decades, monthly premiums tend to be higher than with fixed term policies.

    Premiums are also linked to investments, so if investment growth is lower than expected, your premiums can increase substantially over time.

    Critical illness cover

    Critical illness cover is offered as an extra to mortgage life insurance and level term life insurance policies – you may already have cover in place but this can be added as an additional policy.

    Critical illness is designed to pay out if you are suffering with a serious condition – such as cancer, a stroke or heart attack – which affects your ability to work. Coverage varies depending on the insurer, so check the terms and conditions carefully.

    If you take out a combined critical illness critical illness and life insurance policy, that policy will only pay out once – you wouldn’t receive a sum upon diagnosis of serious illness and then again should you die during the term of the policy’s coverage.

    Getting a quote

    Ultimately, the amount you pay for your mortgage life insurance every month will be defined by a number of factors, including the size of the cover you need, the length of time you want the policy to run for and any additional extras – such as critical illness.

    Your age and health will also be taken into consideration. If you are a heavy smoker or have suffered with a serious health condition in the past, your premium is likely to be higher than a non-smoker or an individual with better health.

    Try to compare a wide range of life insurance policies to get the best possible deal for you and your lifestyle. Remember that cheapest isn’t always best – check exactly what your policy covers before buying it.

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    Globe Life Official Site: Buy up to $350, 000 Mortgage Protection Insurance #emc #mortgage


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    Mortgage Protection Insurance

    If you are a home owner, it is important to do all you can to protect your home and your family if an accidental death prevents you from paying your mortgage. Mortgage Protection Insurance from Globe Life is an accidental death and dismemberment insurance policy that gives your family security in their home for just a fraction of your monthly mortgage payment.

    Don t Put Your Home At Risk

    • Choose your Mortgage Protection accidental death insurance coverage from $50,000 to $350,000.
    • Acceptance is guaranteed, regardless of health if you are between the ages of 18 and 69.
    • No health questions or medical exams.
    • The affordable monthly premiums will never increase for any reason.
    • Rates as low as $5.50 per month.

    Your Mortgage Protection Insurance Also Includes These Additional Guaranteed Benefits At NO EXTRA COST

    • Inflation Benefit
      For every year the Policy remains continuously in force, primary insured s Principal Benefit will automatically be increased by 5% of the Initial Principal Benefit until the Principal Benefit is equal to 125% of the Initial Principal Benefit, or the primary insured turns age 70, whichever is earlier.
    • Education Benefit
      Upon the accidental death of the primary insured, pays an additional 10% of the death benefit for each dependent child who, on the date of the accident, is between the ages of 15 and 22. Available only on the Family Plan and limited to $10,000.
    • Seat Belt Benefit
      Pays 10% of the insured s Principal Benefit if the insured suffers an accidental death while operating or riding in a car and wearing a seat belt.
    • Common Disaster Benefit
      Pays 10% of the insured s Principal Benefit if the insured suffers an accidental death while operating or riding in a car and wearing a seat belt.
    • Dismemberment Benefit
      Pays for loss of a hand, foot or eye subject to a table of losses.
    • Paralysis Benefit
      Covers quadriplegia, paraplegia and hemiplegia subject to a table of losses.
    • Commercially Scheduled Airline Benefit
      Pays an additional benefit amount equal to the insured s Principal Benefit for each insured at the time of death from accidental bodily injury received as a fare-paying passenger on a commercially scheduled airline.

    No-Risk 30-Day Money-Back Guarantee

    Globe Life guarantees your satisfaction with a no-risk 30-day money-back guarantee. If you are not completely satisfied, simply return your policy within the first 30 days for a full refund without further obligation.

    Insurance Selections

    About Us

    • About Globe Life
    • Jobs
    • Contact Us

    *$1 pays for the first month of children s coverage. Then the rate is based on your child s present age and is guaranteed to stay the same for the rest of their life. Policy Form # GWL20001 or GWLA001
    *$1 pays for the first month s adult coverage. Then the rate schedule is based on your current age and is guaranteed for the life of the policy. Policy Form # SRTCV/SRTCV13 **A.M. Best Company rating as of 6/16. For the latest rating, access www.ambest.com.

    Globe Life has been protecting America s families since 1951

    Globe Life continues to receive an A+ (Superior)** rating
    from A.M. Best Company (rating as of 6/16)

    GMADW08 2005-2016 Globe Life And Accident Insurance Company, Oklahoma City, OK All Rights Reserved.
    Licensed in the United States CA Certificate Authority #4140


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    Globe Life Official Site: Buy up to $350, 000 Mortgage Protection Insurance #equity #mortgage


    #home mortgage insurance

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    Mortgage Protection Insurance

    If you are a home owner, it is important to do all you can to protect your home and your family if an accidental death prevents you from paying your mortgage. Mortgage Protection Insurance from Globe Life is an accidental death and dismemberment insurance policy that gives your family security in their home for just a fraction of your monthly mortgage payment.

    Don t Put Your Home At Risk

    • Choose your Mortgage Protection accidental death insurance coverage from $50,000 to $350,000.
    • Acceptance is guaranteed, regardless of health if you are between the ages of 18 and 69.
    • No health questions or medical exams.
    • The affordable monthly premiums will never increase for any reason.
    • Rates as low as $5.50 per month.

    Your Mortgage Protection Insurance Also Includes These Additional Guaranteed Benefits At NO EXTRA COST

    • Inflation Benefit
      For every year the Policy remains continuously in force, primary insured s Principal Benefit will automatically be increased by 5% of the Initial Principal Benefit until the Principal Benefit is equal to 125% of the Initial Principal Benefit, or the primary insured turns age 70, whichever is earlier.
    • Education Benefit
      Upon the accidental death of the primary insured, pays an additional 10% of the death benefit for each dependent child who, on the date of the accident, is between the ages of 15 and 22. Available only on the Family Plan and limited to $10,000.
    • Seat Belt Benefit
      Pays 10% of the insured s Principal Benefit if the insured suffers an accidental death while operating or riding in a car and wearing a seat belt.
    • Common Disaster Benefit
      Pays 10% of the insured s Principal Benefit if the insured suffers an accidental death while operating or riding in a car and wearing a seat belt.
    • Dismemberment Benefit
      Pays for loss of a hand, foot or eye subject to a table of losses.
    • Paralysis Benefit
      Covers quadriplegia, paraplegia and hemiplegia subject to a table of losses.
    • Commercially Scheduled Airline Benefit
      Pays an additional benefit amount equal to the insured s Principal Benefit for each insured at the time of death from accidental bodily injury received as a fare-paying passenger on a commercially scheduled airline.

    No-Risk 30-Day Money-Back Guarantee

    Globe Life guarantees your satisfaction with a no-risk 30-day money-back guarantee. If you are not completely satisfied, simply return your policy within the first 30 days for a full refund without further obligation.

    Insurance Selections

    About Us

    • About Globe Life
    • Jobs
    • Contact Us

    *$1 pays for the first month of children s coverage. Then the rate is based on your child s present age and is guaranteed to stay the same for the rest of their life. Policy Form # GWL20001 or GWLA001
    *$1 pays for the first month s adult coverage. Then the rate schedule is based on your current age and is guaranteed for the life of the policy. Policy Form # SRTCV/SRTCV13 **A.M. Best Company rating as of 6/16. For the latest rating, access www.ambest.com.

    Globe Life has been protecting America s families since 1951

    Globe Life continues to receive an A+ (Superior)** rating
    from A.M. Best Company (rating as of 6/16)

    GMADW08 2005-2016 Globe Life And Accident Insurance Company, Oklahoma City, OK All Rights Reserved.
    Licensed in the United States CA Certificate Authority #4140


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    Life insurance for my family

    Johanna and Tony | Edited by Martin

    Updated July 2017

    The sobering statistic is around one child in 29 loses a parent before they grow up. Sadly, the grief and misery are often compounded by a loss of income causing financial crisis – but life insurance is one of the cheapest ways to protect your family’s finances if the worst happens.

    Want Mortgage Life Insurance?

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    In this guide

    The 10 life insurance need-to-knows

    There are many different types of life insurance: some protect a mortgage and some protect all your dependants, while others provide a way to mitigate inheritance tax. Yet here we’re focusing solely on life insurance taken out to provide money for your family if you or your partner were to die. This is something every parent, partner, or person with any other type of dependant needs to consider.

    Level term life insurance pays out a set amount if you die within a fixed term

    This is the simplest type of life insurance and the name actually tells you all you need to know.

    Level: The payout you get doesn’t vary. It’s always at a set amount regardless of when you die during the term, eg, Ј200,000

    Term: You only get a payout if you die within a fixed term , eg, 18 years

    So all in all the cover guarantees a lump sum payout upon death to your dependants within a fixed time, for example, Ј200,000 if you die within the next 18 years. Obviously, the more cover you get and the longer the term you want, the more it costs.

    It’s just a case of the cheaper the policy, the better.

    Don’t confuse it with other types of life insurance

    This is just one type of life insurance, there are others that do different jobs including:

    • Mortgage decreasing term insurance: This pays out to cover your mortgage if you die within a set term. As mortgage debt decreases over time, the amount it pays also decreases (it’s often called ‘decreasing term assurance’ because of this).

  • Whole of life insurance: These are often (but not always) investment-linked life insurance policies mainly used to mitigate inheritance tax. In other words, the payout amount should cover the inheritance tax bill on death, and the policy runs out when you die, instead of after a fixed time.

  • Life insurance investment: These are effectively investments operated through life insurers. While there is a life insurance element they’re often things like endowments or with-profits policies and are used far more often in the ‘investment’ zone rather than for protection if someone dies.

    You don’t need life insurance if you don’t have dependants

    If you have no dependants and are single, then you’d be right to question why you would bother to get this policy. This is all about paying out when you’re gone, so if you’ve no one you want the money to go to, don’t bother.

    If the answer is there’d be little financial impact, then you may not need a policy. But if paying the bills, the mortgage, bringing up kids, food shopping and more would be a struggle, this is a cheap way to solve that.

    Roughly cover 10 times the annual income of the highest earner till kids have finished full-time education

    Life insurance for my family

    The rough rule of thumb is to cover 10 times the main breadwinner’s income, yet you don’t have to stick with that. It may just be a case of do what you can afford – the budget planner should help. Here are some things you should take into account. It should cover.

    • Any outstanding debts that need to be paid off (including a mortgage if you don’t have a separate policy)
    • Immediate outgoings your dependants would need to pay
    • Future spending you would have wanted to make, eg, university fees for the kids
    • Any additional expenses a death may trigger, such as funeral costs

    While 10 times your income may seem high, it’s worth remembering that inflation will mean the value of this payout is less in, say, 10 years’ time than it is now, and you’re getting cover to last you that long (or longer if you choose a greater term).

    Your dependants don’t have to pay any income tax on the payout, but it does count as part of your estate so if your total assets are above the inheritance tax (IHT) threshold, they will have to pay 40% (ouch!) IHT on it. This can be avoided by putting the policy into something called a trust, see below for more info.

    How long should the term be?

    A policy covering children should last until they are no longer reliant on you, so that’s generally at least until they finish full-time education. If you’re planning on having more children you may want to estimate when that’d be rather than trying to extend or get a new policy later. This is because cover becomes more expensive the older you get.

    To cover a partner it should last until the year you expect to reach pensionable age. Don’t feel obliged to cover a round number of years, eg, policies can be for 17 years.

    Quick questions:

    I’ve heard that Family Income Benefit may be a cheaper option. Is that right?

    If you want to provide a regular income for your family, rather than a lump sum, an alternative is to take out an insurance product called Family Income Benefit (FIB). This provides an annual tax-free payment for a set period (and despite it’s unfortunate name it has nothing to do with receiving benefits).

    Sometimes FIB can work out cheaper than level term cover and sometimes it’s the other way round – it all depends on when you die so unless you have a crystal ball this will be impossible to tell. But to demonstrate how they compare here’s an example:

    • FIB taken out over 10 years paying out Ј10,000 a year will cost Ј7.28 a month – if you died in the first year your dependants would receive Ј10k a year for 10 years, meaning a total income of Ј100,000. But if you died in the last year they would only get Ј10,000.
    • Meanwhile, 10-year level term insurance for Ј100,000 will cost Ј11.10 a month but would pay out Ј100,000 regardless of whether you died on the first or the last day of that 10-year period.

    Some of the best buy brokers below offer quotes for FIB but if you’re not sure whether it’s for you it’s worth seeking the advice of a broker or financial adviser before you proceed. See our cheapest advisory brokers below for more.

    Why is 10 times the salary of the highest earner a good rule of thumb?

    Covering 10 times the salary of the highest earner in the household is a good guideline figure because it is likely to leave enough money to cover mortgage repayments and expenses. Take the example of a family where one partner works and the other stays at home to look after the children. If the working partner dies, the partner looking after the children still needs money to pay the mortgage and look after the little ones. If the partner looking after the children dies, the sum that would be paid out would be enough to cover the working partner if they had to leave full-time employment to look after the kids.

    What is the best age to buy level term life insurance?

    If you want to buy level term life insurance, it is best to get cover while you are as young as possible. Obviously, if you’re an 18-year-old, do not own a home, are single and don’t have any children, the product is not suitable, but you should consider cover as soon as you have people relying on your income.

    The reason you should get cover as soon as possible is because it will cost less. Younger people are largely healthier and will have longer to live than their older counterparts and this will be reflected in the prices offered by insurers. Here’s a table to illustrate this point.


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    Life Insurance

    Life insurance for my family

    The SGLI Online Enrollment System (SOES) allows Servicemembers with full-time SGLI coverage to make fast and easy changes to their life insurance coverage and beneficiary information any time without completing a paper form or making a trip to their personnel office.

    Life insurance for my family

    Search for Unclaimed Funds

    Are you a current or former VA life insurance policyholder? Could you be the beneficiary to a VA life insurance policy? Visit our Unclaimed Funds search page to search our database of unclaimed insurance funds and find out if we are holding money for you!

    Life insurance for my family

    Set up automatic deductions from your bank account for your Veterans Group Life Insurance (VGLI) coverage! Set it and forget it!

    Life insurance for my family

    This short video shows five Veterans talking about why they have Service-Disabled Life Insurance and why other Servicemembers and Veterans should consider it. The video includes a list of the primary qualifications for applying. View the video.

    Life insurance for my family Life insurance for my family

    Life insurance for my familyAbout Life Insurance

    As part of our mission to serve Servicemembers, Veterans, and their families, VA provides valuable life insurance benefits to give you the peace of mind that comes with knowing your family is protected. VA s life insurance programs were developed to provide financial security for your family given the extraordinary risks involved in military service.

    Insurance News

    The SGLI Online Enrollment System (SOES) is Now Live for Navy and Air Force Servicemembers

    Beginning August 2, 2017, Air Force members can manage their Servicemembers Group Life Insurance (SGLI) coverage using the SGLI Online Enrollment System (SOES). Air Force members join their fellow Navy members in using the new system. Navy began using SOES on April 5, 2017. Air Force and Navy members should look for information from their service about when they should access SOES to confirm and certify their SGLI elections.

    SOES access for other branches of service is planned for release on the following schedule*:

      • Army October 2017
      • Marine Corps December 2017
      • Coast Guard, National Oceanic and Atmospheric Administration February/March 2018

    *This schedule is subject to change.

    SGLI provides automatic life insurance coverage of $400,000 to Servicemembers upon enlistment. Members with SGLI also get automatic coverage for their dependent children and spouses (unless the child or spouse is insured under SGLI as a Servicemember) under the Family SGLI program and traumatic injury protection (TSGLI). Servicemembers with full-time SGLI coverage will no longer have to complete a paper SGLV-8286 to make changes to their coverage or beneficiary elections. Instead, these Servicemembers can use the online system, SOES, to manage the amount of their SGLI and spouse coverage and to designate or update beneficiaries.

    To access SOES, go to www.dmdc.osd.mil/milconnect, sign in, and go to Benefits, Life Insurance SOES- SGLI Online Enrollment System. Servicemembers can log in with their CAC or with their DS Logon using Internet Explorer as soon as they receive notice that SOES access is available. Servicemembers can then make sure their SGLI coverage and beneficiaries are up-to-date.

    Life insurance for my familyBenefit Description

    Servicemembers’ Group Life Insurance (SGLI) is a low-cost group term life insurance program for Servicemembers. Coverage can be extended for up to two years if the Servicemember is totally disabled at separation.

    Veterans’ Group Life Insurance (VGLI) allows Veterans to convert your SGLI to a civilian program of lifetime renewable term coverage after separation from service.

    Family Servicemembers’ Group Life Insurance (FSGLI) insures spouses and children of Servicemembers with SGLI coverage. Spousal coverage may not exceed the Servicemember’s coverage. Dependent children are automatically covered at no charge.

    Servicemembers’ Group Life Insurance Traumatic Injury Protection (TSGLI) is an automatic feature of SGLI that provides payments to Servicemembers who suffer losses, such as amputations, blindness, and paraplegia, due to traumatic injuries that occur in service.

    Service-Disabled Veterans’ Life Insurance (S-DVI) provides life insurance coverage to Veterans who have been given a VA rating for a new service-connected disability in the last two years. Totally disabled Veterans are eligible for free coverage and have the opportunity to purchase additional life insurance.

    Veterans’ Mortgage Life Insurance (VMLI) provides mortgage life insurance protection to disabled Veterans who have been approved for a VA Specially Adapted Housing (SAH) grant.

    Life insurance for my familyEligibility Requirements

    Do you Qualify for VA Insurance?

    Follow this link for an easy way to find out if you are eligible for all our programs, including Service Disabled Veterans Insurance (S-DVI), Veterans Group Life Insurance and Family SGLI, TSGLI, and Veterans Mortgage Life Insurance. You ll find infographics (timelines and charts) for each program.

    Servicemembers’ Group Life Insurance (SGLI) Coverage is automatic for most active duty Servicemembers, Ready Reserve and National Guard members scheduled to perform at least 12 periods of inactive training per year, members of the Commissioned Corps of the National Oceanic and Atmospheric Administration and the Public Health Service, cadets and midshipmen of the U.S. military academies, and ROTC members. Learn More

    Veterans’ Group Life Insurance (VGLI) Servicemembers with full-time SGLI coverage are eligible to convert SGLI to VGLI after separation from service. Learn More

    Family Servicemembers’ Group Life Insurance (FSGLI) Term life insurance coverage is automatically provided to spouses and dependent children of Servicemembers insured under SGLI. Learn More

    Servicemembers’ Group Life Insurance Traumatic Injury Protection (TSGLI) All Servicemembers insured by SGLI are automatically covered by TSGLI. Learn More

    Service-Disabled Veterans’ Insurance (S-DVI) Servicemembers who were released from active duty under other than dishonorable conditions after April 25, 1951, AND have been granted service connection for any disability (even 0 percent) within the last two years, AND are in good health except for any service connected conditions may be eligible. Learn More

    Veterans’ Mortgage Life Insurance (VMLI) VMLI is available to Veterans who received a Specially Adapted Housing Grant (SAH), have title to the home, and have a mortgage on the home. Learn More

    Life insurance for my familyApplication Process

    Servicemembers’ Group Life Insurance (SGLI) SGLI coverage is automatic. Use SGLV 8286 to designate beneficiaries, or reduce, decline or restore SGLI coverage.

    Veterans’ Group Life Insurance (VGLI) Complete and file form SGLV 8714 or apply online.

    Family Servicemembers’ Group Life Insurance (FSGLI) Complete and file form SGLV 8286A to decline, reduce, or restore FSGLI coverage.

    Servicemembers’ Group Life Insurance Traumatic Injury Protection (TSGLI) Coverage is automatic for all Servicemembers covered by SGLI. To file claim for the TSGLI benefit, complete and file SGLV 8600.

    Service-Disabled Veterans’ Insurance (S-DVI) apply for S-DVI online or complete and file form VA 29-4364.

    Veterans’ Mortgage Life Insurance (VMLI) Complete and file form VA 29-8636, Application for Veterans’ Mortgage Life Insurance.


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    Concordia College University of Delaware Your Responsible Choice

    College credit for life experience is legally defined by the U.S. Department of Education as credit earned by students for what they have learned through independent study, noncredit adult courses, work experience, portfolio demonstration, previous licensure or certification, or completion of other learning opportunities (military, government, or professional).

    Graduation month is once again upon us. Serving your needs, Concordia College in Wilmington, Delaware offers you the nation’s most affordable US$ 195.00 all-inclusive accredited university degree program in the shortest amount of time. Not a luxury, but a necessity for all who need to provide for themselves and their families.

    Applying your professional and life experience towards a degree is your best investment, and the new standard in today’s academe to achieve this goal.

    Established in 1999. Concordia College offers you a U.S. nationally accredited fast-track degree program based entirely on prior learning and life experience credits. You may have done past courses and other learning which equals an Associate, Bachelor or Master degree, but you accumulated that learning in a variety of contexts with no resulting degree outcome. Meeting your need, Concordia College’s prior learning assessment process may conclude with an accredited degree in 24 hours in the subject of your prior studies or Life Experience. Your transcripts then credibly document all of your learning.

    Scroll down or get started here. Proceed to our FAQ page if you have further questions. Or watch Concordia College & University ?>