Beginning in 2023, the VA will be getting into the life insurance business.
The new law requires the VA to offer all disabled veterans under age 81 a whole-life policy by that date. The program will be similar to Veterans Group Life Insurance (VGLI); however, veterans must sign up for VGLI within 16 months after leaving the service. The new insurance program will have no such time limit.
Policies will be limited to a $40,000 payout for most veterans when the program begins.