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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.
VGLI provides lifetime coverage as long as you pay the premiums. You may enroll for a maximum amount of coverage that is equal to the amount of Servicemembersâ Group Life Insurance (SGLI) coverage you had when you separated from service. Lesser amounts of coverage are also available in increments of $10,000.