How Much Life Insurance Do Veterans Get? 
Unfortunately , veterans do not get any life insurance unless they have met certain conditions . These are the major ones : 1 -RRB- Before Nov , 2012 - You must have been receiving SGLI and applied for VGLI -LRB- Veterans Group Life Insurance -RRB- within 120 days of separating from the service , or you have a year and 120 days to apply if you can show good health . 2 -RRB- After Nov , 2012 - Same as above but substitute 240 days for 120 days 3 -RRB- You are a member of the Individual Ready Reserve Unit or Inactive National Guard . If you are eligible for VGLI you can get up to $ 400,000 or the amount that you had in SGLI , whichever is lower . 