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Retirees & Veterans

Life Insurance for Veterans

You put your life on the line to protect us. We’re here to help protect your military family.

While on active duty, servicemembers have access to life insurance benefits through Servicemembers' Group Life Insurance (SGLI), a group term life insurance program for servicemembers and their dependents. Upon transitioning out of the military, retirees and veterans can convert their SGLI policy into a VGLI policy—Veterans' Group Life Insurance. However, AAFMAA offers Veteran life insurance options designed to meet your family’s needs.  

If you are getting ready to retire and considering options for your life insurance needs, AAFMAA could be the answer. Before you automatically choose VGLI, check us out first. AAFMAA is a Veterans’ insurance company that offers financial solutions designed exclusively for the military community. Our term life insurance products can save you thousands of dollars over VGLI, just give us a call for a free, no-obligation quote to compare.

“I have been an AAFMAA Member for many years and want you to know how much my family and I appreciate the outstanding service we have received over the years from your superb staff. Their patience with my efforts to understand some of the complex transactions I was undertaking was remarkable.” 

— LTC. Alvaro Gonzalez, U.S. Army (Retired)
Member since 1965 

Selecting life insurance to protect your family after you leave the service should be easy and always affordable. Call one of our Membership Coordinators at 1-866-311-1812 or get a free, no-obligation quote online today. We’ll provide the right solution to meet your needs.

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Veteran Life Insurance Options

Level Term II

Extreme flexibility. You pick the coverage. The affordable option for short- and long-term Veteran life insurance.

Simple Term

Simplified application. No medical exams. Protection up to $100,000.

Wealth Builder Life Insurance

For members of any age, any medical status, with the option to annuitize.

Veteran Survivor Plan

Guaranteed acceptance, coverage for life. No medical exam or questions.

Common Questions

AAFMAA offers a variety of life insurance policies for Veterans that you can purchase in lieu of VGLI. Popular options include Level Term II Life Insurance and Wealth Builder Life Insurance. Compare your options and find the best solution today!

AAFMAA offers several Veteran life insurance policies that do not require medical exams — Simple Term Life Insurance, Wealth Builder Life Insurance which builds cash value at a high crediting rate, ANNUITYLife(r) which offers an immediate annuity at no cost, and the Veteran Survivor Plan, which is a guaranteed acceptance policy.


Servicemembers’ Group Life Insurance (SGLI) offers term coverage to eligible military personnel. Servicemembers who meet the criteria will be automatically enrolled by their service branch. 

When military personnel transition out of the service, they become eligible for Veterans' Group Life Insurance (VGLI), which provides continued life insurance coverage up to the amount they had through SGLI. However, unlike SGLI, VGLI premiums increase significantly every five years, and servicemembers are only able to increase their coverage by $25,000 every five years—up to a maximum of $400,000—until the age of 60.