Veterans group life insurance pays cash to the beneficiaries of a deceased member of the armed forces who had completed his or her service. Veterans Group Life Insurance (VGLI) is for service members who have completed their service and wish to continue to have life insurance coverage carried over from their Servicemembers’ Group Life Insurance (SGLI) policy. They have one year and 120 days from the date they become veterans to exercise this option, and VGLI is a renewable term policy.
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