Veterans’ Reopened Insurance (World War II and Korean War)

Friday, 30 August 2013 11:30 VBI

Additional VA Life Insurance: Veterans’ Reopened Insurance (World War II and Korean War)

In 1964, Congress enacted legislation which provided for a limited one year reopening of the National Service Life Insurance (NSLI) and the Veterans Special Life Insurance (VSLI) programs.

From May 1,1965 until May 2, 1966, disabled veterans who had been eligible to obtain NSLI or VSLI between 1940 and 1956, could once again apply for Government life insurance. This coverage was available only to disabled veterans. Approximately 228,000 policies were issued. No term insurance policies were issued. Today there are still over 41,000 Veterans Reopened Insurance policies in force. Annual dividends are paid on these policies. The maximum face amount of a policy is $10,000. However, this limit does not include paid-up additiional insurance which can be purchased with the dividends that are paid annually on these policies. Certain disability benefits are available under these policies for policyholders who become totally disabled before their 65th birthday.