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Veterans' Mortgage Life Insurance
Veterans' Mortgage Life Insurance (VMLI) is mortgage protection insurance that can help families of severely disabled servicemembers or veterans pay off the home mortgage in the event of their death.
Eligibility
VMLI is only available to servicemembers and veterans with severe service-connected disabilities who:
- Received Specially Adapted Housing (SAH) grant to help build, remodel, or purchase a home
- Have the title to the home
- Have a mortgage on the home
Veterans must apply for VMLI before their 70th birthday.
Benefits
VMLI provides up to $200,000 mortgage life insurance and is payable only to the mortgage holder (i.e., a bank or mortgage lender), not to a beneficiary. The amount of coverage will equal the amount of the mortgage still owed, but the maximum can never exceed $200,000. VMLI is decreasing term insurance which reduces as the mortgage balance declines. VMLI has no loan or cash values and does not pay dividends.
For additional help call a VA insurance specialist today at 800-669-8477.
Download Veterans' Mortgage Life Insurance brochure.
Chapter 35 Education Benefits
The Survivors’ and Dependents’ Educational Assistance (DEA) Program is one of the more underused benefits program available to dependents.
The program provides education and training opportunities to eligible dependents of certain veterans. Under the program, dependents can receive up to 45 months of educational benefits for an approved school, which may be used for degree or certificate programs, apprenticeship, and on-the-job training; and it can apply to correspondence courses for dependents. Under certain conditions, remedial, deficiency, and refresher courses may also be approved for the program.
Eligibility
If you are the son, daughter, stepchild, adopted child, or spouse of a veteran (or in some cases, a servicemember) who:
- Died or is permanently and totally disabled as a result of a service-connected disability (i.e., a disability resulting from active service in the U.S. Armed Forces).
- Died from any cause while such permanent and total service-connected disability was in existence.
- Is missing in action (MIA) or has been captured in the line of duty by a hostile force (POW).
- Is being forcibly detained or interned in the line of duty by a foreign government or power.
- Is hospitalized or receiving outpatient treatment for a service-connected, permanent and total disability and is likely to be discharged for that disability.
How to Apply
At times, there are subtle modifications to the program. Best to speak with an accredited VSO for up-to-date details.
