Best Life Insurance for Veterans (2026)

We researched top life insurance companies to find which ones actually work best for veterans, from affordable term policies to permanent coverage that builds cash value. The best veteran life insurance providers for different categories are:

* Rates are based on 40-year-old applicants with $500,000 in coverage for 20-year term, whole and universal life policies. Guaranteed whole life quotes reflect 65-year-olds purchasing a $15,000 policy, while the senior quote assumes a $250,000, 10-year term policy for a 65-year-old.

Veterans can tap into two main VA life insurance programs, each built for different needs and timelines after service.

• Servicemembers' Group Life Insurance (SGLI): SGLI provides automatic coverage up to $500,000 while you're on active duty, in the Ready Reserve or National Guard. The program charges low monthly premiums ($0.07 per $1,000 of coverage) deducted from your military pay. Your spouse and dependent children can also get coverage through Family SGLI. Coverage continues for 120 days after separation at no cost, giving you time to arrange other insurance.
• Veterans’ Group Life Insurance (VGLI): VGLI picks up where your military coverage (SGLI) left off. It's term life insurance that renews every five years, with premiums that go up as you get older. You don't need a medical exam to sign up, which makes it a good fit if you want flexible coverage for the near to mid-term. You can convert your SGLI to VGLI within one year and 120 days after separation. VGLI then converts to a private policy within five years of your VGLI coverage start date.
• Veterans Affairs Life Insurance (VALife): VALife works like whole life insurance. It covers you for your entire lifetime and builds cash value along the way. It's made for veterans with service-connected disabilities, and there's no medical exam or health screening required. Your premiums stay the same, so it's easier to plan long-term. VALife includes a two-year waiting period for non-accidental deaths. If you die from illness or natural causes during the first two years, your beneficiaries receive only premiums paid plus interest, not the full death benefit. Accidental deaths receive the complete benefit amount immediately.

VA life insurance and private coverage each offer distinct advantages depending on your health, budget and coverage goals.

VA programs work best when you have service-connected disabilities or health issues that make private coverage expensive. You don't need a medical exam for VGLI or VALife, and service-connected conditions won't increase your rates. SGLI offers unbeatable rates at $0.07 per $1,000 of coverage during active duty.

Private insurers often beat VA rates if you're young and healthy. A healthy 30-year-old veteran usually pays 30% to 50% less through private coverage compared to VGLI. Private policies also offer more flexibility with term lengths and riders for critical illness or long-term care.

Life insurance companies look at several things when they set your premiums. Your costs depend on your health, lifestyle, age, how much coverage you need, and what type of policy you choose.

The table below shows the average cost of life insurance for veterans of different ages, coverage amounts and term lengths.

The rates above are average quotes for buyers with average weight and health ratings. Actual rates vary based on age, health, lifestyle and other underwriting factors. These are sample rates for illustration only and don't constitute guarantees. Veterans should consult a licensed insurance professional for personalized advice and current rates.

SGLI ends when you leave the military. You can convert SGLI coverage into Veterans' Group Life Insurance (VGLI) or replace with a new private life insurance policy. VGLI conversion lets you continue coverage without a lapse, often with no medical exam. Conversion comes with strict deadlines and higher long-term costs.

Buying new private life insurance may require health screening. Private life insurance has lower premiums and more flexible options. The right choice depends on how soon you apply after separation, your health and whether you need short-term or permanent coverage:

• Within 240 days of separation with health issues: Converting SGLI to Veterans' Group Life Insurance (VGLI) guarantees coverage with no medical underwriting. Your VGLI rate is based on age, not current health conditions. VGLI is the safest option if you have medical concerns.
• Within 240 days and in good health: Private life insurance is 30% to 50% cheaper than VGLI for healthy veterans. Shopping early lets you lock in lower private life insurance rates before your 120-day free SGLI extension ends.
• After 240 days: Medical underwriting applies to VGLI and private life insurance policies. Private insurers offer lower premiums and more flexible term lengths than VGLI.
• Service-connected disabilities rated 50% or higher: VA-backed life insurance options provide better value. Private insurers charge higher premiums or decline coverage for service-related conditions. Consider private no-exam life insurance policies as an alternative. No-exam life insurance rates are higher than policies with standard underwriting.
• Good health with no service-connected disabilities: Private life insurance delivers the lowest costs. Private life insurance offers optional riders like critical illness or long-term care that VA programs do not offer.
• Short-term coverage needs: VGLI can be a temporary solution while you improve your health or reassess long-term needs. You can switch from VGLI to a private life insurance policy later.
• Permanent coverage with disabilities: VA Life Insurance (VALife) offers guaranteed acceptance, level premiums, and cash value growth without medical screening.
• Maximizing cash value growth: Private whole life insurance accumulates cash value faster and offers more customization than VALife. Private whole life insurance is a stronger choice for long-term wealth building.

We answer common questions about veterans’ life insurance.

Veterans deal with things most people don't when they're buying life insurance. The best life insurance providers for vets understand what military service does to your health and your options. We set up our ratings to reflect what veterans actually go through when they're trying to find coverage.

Our Rating System

We evaluated each company across three categories weighted by what veterans consistently tell us matters most:

• Affordability: 50%
• Customer Experience: 30%
• Coverage Options: 20%

What We Analyzed

Our evaluation incorporates multiple data sources:

• Cost analysis from thousands of life insurance quotes across multiple coverage amounts, term lengths ages, and health ratings
• Financial strength ratings from AM Best and years in business
• Customer satisfaction data from the National Association of Insurance Commissioners (NAIC) complaint index, J.D. Power and online customer reviews
• Application efficiency and buying process tools, including online resources and underwriting processes
• Product variety and coverage features, including term lengths, coverage amounts and policy options

Sample Veteran Profile

We used this standard profile to gather consistent pricing data:

• 40-year-old male
• Nonsmoker
• 5 feet 9 inches tall, 160 pounds
• Average health rating

We modified the profile by age, gender, health status and lifestyle to understand how different backgrounds affect rates.