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Veterans Group Life Insurance. Itâs important to consider which life insurance policy is best to ensure your familyâs financial security. When you separate from the military you have the option to convert your SGLI benefit over to VGLI. But, you have a limited time frame after separation to do so â 1 year and 120 days to be exact.
1 You are eligible to apply for VGLI if:  You had Servicemembers' Group Life Insurance (SGLI) and were released from active duty or active duty for training under a call or order to duty that does not specify a period of less than 31 days.