Veterans mortgage life insurance offers mortgage protection insurance to the families of Veterans with severe service-connected disabilities who made a home that fits their needs.
What are the important details i need to learn about VMLI?
You really should know that the money will be paid directly to the bank or other lender that holds you mortgage and not to a life insurance beneficiary chosen to get the money when you die, the amount of coverage will equal the amount you still owe on your mortgage but will never be more than $200,000, and VMLI is a decreasing - term insurance.
One question, what is the estimated time that I should apply for my benefits if my military period ends soon?
you ll need to get new coverage quickly .  In some cases , you must act within 120 days of leaving the military to be sure there s no break in your coverage
Do you have mortgage insurance?
Veterans Mortgage Life Insurance VMLI If you have a severe service - connected disability , get mortgage protection insurance for a home that s been adapted to meet your needs .
How do I know which life insurance program I m eligible for?
Different programs cover Veterans VGLI , service members SGLI , and family members FSGLI . You may also be able to get short - term financial coverage through TSGLI to help you recover from a traumatic severe injury
if I am disabled due to injury or illness caused or made worse by my active duty
And if you re disabled because of an injury or illness caused or made worse by your active service , you may be able to get coverage through S - DVI to continue your life insurance beyond 2 years after you leave the military
Your military shift is over soon?
yes