By The Lambert Agency | Austin, Texas
Choosing to serve in the U.S. The Armed Forces is one of the most honorable commitments a person can choose to make. Yet after your service to the military ends, it’s just as important to protect your loved ones and the successful life you’ve built as a veteran.
If you’re a veteran, you may already have ready access to specific life insurance benefits through the VA, but those benefits may come with limitations. Here at The Lambert Agency, we assist veterans throughout Austin, Texas in exploring both VA-sponsored and private life insurance options to best ensure the families of veterans remain financially secure over the long term.
🎖️ Understanding VA Life Insurance Options
The VA will offer a multitude of programs specifically designed for service members and veterans. Each program will offer valuable protection, yet they each have their own eligibility rules and coverage limits. Here’s a breakdown of the most common options:
Servicemembers’ Group Life Insurance (SGLI)
If you’re still on active duty, or in the reserves, you’re likely covered under SGLI.
- SGLI typically offers up to $500,000 in available coverage
- It’s automatically issued to most service members
- It can continue temporarily after discharge through VGLI
Veterans’ Group Life Insurance (VGLI)
Once you exit active service, you’re able to convert your SGLI to VGLI within one year and 120 days of separation.
- Coverage ranges from $10,000 to $500,000
- Premiums will increase every five years as you age
- No medical exam necessary if you apply within 240 days of leaving service
VGLI can be a great short-term solution, yet for many veterans, it’s only the first step toward more permanent, affordable life insurance coverage options.
VA Life (for Veterans with Service-Connected Disabilities)
The VA Life program is able to offer up to $40,000 of whole life insurance coverage for veterans with service-connected disabilities.
- Acceptance is always guaranteed, there’s no medical exam required
- Premiums are calculated and based on age and total coverage amount
- Coverage will last for life, as long as premiums are paid and not allowed to lapse
VA Life provides added peace of mind for veterans who may have difficulty qualifying for traditional forms of private life insurance.
🏦 Private Life Insurance Options for Veterans
While VA programs are certainly valuable, they will not often provide enough coverage for long-term family protection. This is where private life insurance companies come in to help. Here at The Lambert Agency, we’re able to work with multiple top-rated carriers to determine the best policies to complement your preexisting VA benefits, not replace them. Here are some of the most common options for veterans.
Term Life Insurance
- Provides coverage for a specified period of time, often over 10, 20, or 30 years
- Offers affordable premiums with higher coverage limits
- Ideal for veterans who are raising families, paying off a mortgage, or seeking income replacement
Whole Life Insurance
- Offers lifetime coverage with fixed premiums
- Builds up cash value you can borrow against in the future, if necessary
- Perfect for long-term financial stability and legacy planning
Final Expense Insurance
- Simplified coverage (typically $5,000–$40,000) for funeral and end-of-life costs
- Usually there is no medical exam required
- Very affordable premiums and permanent coverage for better peace of mind
These private policies are able to fill the gaps left by VA programs, better ensuring your family has the financial protection they deserve to continue without having to bear the burden of added financial stress should you pass unexpectedly.
⚖️ VA Life Insurance vs. Private Coverage
| Feature | VA-Sponsored Coverage | Private Life Insurance |
| Eligibility | Veterans and service members | Available to anyone who qualifies medically |
| Coverage Limit | Up to $500,000 (VGLI) | Up to $5 million or more |
| Premiums | Increase with age (VGLI) | Can be locked in for life or term |
| Medical Exam | Not required if applied early | Sometimes required, depending on plan |
| Coverage Duration | Term or whole life, depending on program | Term, whole, or final expense options |
| Flexibility | Limited customization | Highly customizable to your needs |
For many veterans, the best strategy will end up combining both VA life insurance benefits with a private policy for full, lifelong protection.
🧭 How to Choose the Right Life Insurance as a Veteran
When evaluating your life insurance coverage options, you’ll want to consider:
- Your family’s financial needs should you unexpectedly pass (mortgage, debt, income replacement, etc…)
- Your current health status and how certain policies cater specifically to veterans with specific medical conditions
- Your long-term goals and if you want short-term affordability or lifetime coverage
- Your existing VA benefits and if a private life insurance policy will help you build on them strategically
Here at The Lambert Agency, we’ll be happy to walk you through each and every step to best ensure your coverage truly matches your family’s needs.
🌟 The Lambert Agency Advantage
We’re an independent agency, meaning we partner with multiple top-rated insurance carriers and have plenty of experience working with veterans and military families. We’ll be happy to help you with the following:
- Compare private coverage options alongside your VA benefits, and discover how they can best complement each other
- Secure the most affordable rates which are custom tailored to your health and service background
- Simplify the overall process with clear, concise, no-pressure guidance
You proudly served your country, now allow us to help protect the life you’ve built since coming home.
Get a Free Life Insurance Quote for Veterans in Austin, TX
Whether you would like to supplement your VA coverage or explore new private plan options, The Lambert Agency is here to help you every step of the way. Feel free to fill out the contact form below and we’ll be sure to respond to your message as soon as possible. We look forward to hearing from you soon.