Members of the Army, Navy, Air Force, Marines, or Coast Guard get life insurance under Servicemembers' Group Life Insurance (SGLI) and automatically are covered up to $400,000. But 120 days after they leave the armed services, that coverage expires. Luckily, some companies cater to the needs of veterans and their families and have developed life insurance plans for them. Below are 10 great companies for veterans and their families seeking life insurance policies.


United Services Automobile Association (USAA) serves military members and their families, on duty and off. It provides a plethora of financial services including banking, retirement planning, real estate, vehicle shopping assistance, and insurance. If you purchase life insurance through USAA while still in active service, USAA does not require a medical examination once you leave. If it's purchased within 240 days after separation, the life insurance provided by USAA will replace the coverage you were receiving with SGLI.

Veterans Group Life Insurance From Prudential Insurance

Veterans Group Life Insurance (VGLI) is provided by the Department of Veterans Affairs through the Prudential Insurance Company of America and is designed to replace SGLI. The veteran must enroll in VGLI within one year and 120 days of separation. If enrollment is within 240 days of separation, no new medical exam is required. VGLI premiums are based solely on the veteran's age. VGLI can also be converted to certain commercial policies in the future.

Military Benefit Association

The Military Benefit Association (MBA) was founded in 1956 to provide benefits to enlisted members of the military services. It has since expanded and now offers life insurance to all current and past members of the military and their families. Members and spouses can purchase up to $1 million in coverage. Many of MBA’s plans have lower rates than those offered by SGLI or VGLI.

Active military members are automatically covered up to $400,000 via life insurance under SGLI, but it expires four months after they leave the armed services.

Navy Mutual

Navy Mutual was founded in 1879 to provide service members and their families with life insurance. Members must be enrolled while in the service or within 120 days of separation to receive benefits. The costs of Navy Mutual adjustable life insurance policies are based on the age and gender of the veteran.

Uniformed Services Benefit Association

The Uniformed Services Benefit Association (USBA) is a nonprofit association that provides insurance and other products for active military members and veterans. The policies are backed by an insurance underwriter, New York Life Insurance Company.

USBA was one of the first companies to eliminate the war clause from its policies, which prevented coverage in case of death in combat.

Armed Forces Benefit Association

The Armed Forces Benefit Association (AFBA) offers insurance and health plans, life planning advice, and banking services for military members and their families. The company also offers these services to public employees including police, firefighters, and first responders. AFBA has no terrorism or combat clauses. Under certain circumstances, it awards college scholarships to children of fallen service members.

Veterans of Foreign Wars and Transamerica

The Veterans of Foreign Wars (VFW) has partnered with Transamerica to offer life insurance and other policies geared toward veterans and their families. The veteran must be a member of the VFW to be eligible for these policies, which means he or she must have served honorably in an overseas conflict. Certain policies cover the grandchildren of veterans.

American Armed Forces Mutual Aid Association

The American Armed Forces Mutual Aid Association (AAFMAA) offers life insurance, wealth management, and mortgage loans to active-duty military, spouses, ROTC and Academy cadets, and honorably discharged veterans in certain states. Outside of the approved states, a service member must enroll within 120 days of separation to be eligible.

A unique offering of AAFMAA is that cadets at the military academies are eligible for a free introductory membership to AAFMAA, including a $5,000 term life insurance policy and survivor assistance services.

National Agents Alliance

National Agents Alliance is a consortium of trained and licensed insurance agents who provide life insurance and retirement planning to all citizens. The NAA provides plans for active-duty service members as well as veterans. The NAA also offers coverage for spouses and children under the same plan.


GEICO offers deployment assistance and military discounts for active-duty service members. It has developed special consulting teams dedicated to answering questions about military service and insurance products. While GEICO primarily offers auto insurance, it also offers property and life insurance policies. Life insurance policies are made available to eligible Americans via its partner for life insurance, Life Quotes, Inc. Potential customers must go through Life Quotes, Inc. via GEICO for term life insurance quotes.