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Disabled veterans life insurance Form: What You Should Know
Life insurance benefits are payable under the policies provided by the United States. Life insurance issued in connection with a qualified life insurance policy shall cover disabled, hospitalized Veterans who are entitled to Social Security retirement benefits. Disabled Status: S-DVI cannot be issued to an individual who: · Is 65 years of age or older than of the date of application, or · Is certified by a service-disabled veteran service organization as having been diagnosed as having a major service-connected disability at the time of the application. S-DVI cannot be used to pay for funeral expenses. Service-Related Conditions (Service-Disabled Veteran) and Disability Determined, and Service-Disabled Veteran's Death. S-DVI does not cover losses arising after a qualified service-disabled veteran's death. Coverage is prohibited from death, disability, or separation from active service, as described in 5 U.S.C. §1032(b)(3) and 42 U.S.C. §40324(h). All policies issued in connection with a qualified service-disabled veteran's life insurance contract shall include a clause guaranteeing that any coverage provided to a disabled or deceased person will continue in effect even if there is a change in eligibility criteria. Service-Disabled Veterans Insurance (S-DVI) : Eligibility. You are eligible for S-DVI if: You are 62 or older than of the date of application, or · You are a member of the uniformed services and have been discharged from active service under conditions other than dishonorable (other than for a disability that arose or aggravated while you were an active, full-time member of the uniformed services), or · You are a person who is being treated as a qualified service-disabled Veteran by a service-disabled veteran service organization. A service-disabled Veteran who is enrolled in a disability service-connected health benefits program authorized under section 1314 of title 38, United States Code, shall not be considered as having been treated as a service-disabled Veteran by a service-disabled veteran service organization for purposes of applying for S-DVI.
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