New existence insurance coverage plan launches subsequent yr for veterans



MINUTES. DEIRDRE: IN LESS THAN FOUR MONTHS, THE DEPARTMENT OF VETERANS AFFAIRS IS LAUNCHING A NEW LIFE INSURANCE PROGRAM. IT WILL EXPAND ACCESS TO LIFE INSURANCE COVERAGE FOR MORE VETERANS WITH SERVICE-CONNECTED DISABILITIES. BRANDI: BUT MANY VETS AREN’T AWARE THAT IT EXISTS. EXECUTIVE DIRECTOR OF V.A. INSURANCE SERVICE, DAN KEEAGHAN JOINS US NOW LIVE TO EXPLAIN THE PROGRAM. HOW DOES THE NEW PROGRAM EXPAND LIFE INSURANCE BENEFITS TO MORE VETERANS? >> NEW PROGRAM IS GOING TO REACH MORE VETERANS THAN EVER BEFORE BECAUSE WE ARE ELIMINATING SIGN UP WINDOWS FOR ALL VETERANS WITH ANY LEVEL OF SERVICE-CONNECTED DISABILITY, 0% TO 100%, AS LONG AS THEY ARE AGED 80 OR UNDER, AND THIS IS UNLIKE PRIOR PROGRAMS WHICH HAD A LIMITED TWO-YEAR WINDOW FOR VETERANS TO BE ABLE TO SIGN UP. DEIRDRE: CAN YOU EXPLAIN THE SIGNIFICANCE OF HAVING THIS KIND OF A PROGRAM? IF YOU ARE TRYING TO GET COMPARABLE COVERAGE IN THE PRIVATE SECTOR, HOW BIG OF A DEAL THIS IS? >> A LOT OF TIMES COMPARABLE PROGRAMS WILL HAVE MEDICAL UNDERWRITING, AND PEOPLE WHO APPLY FOR POLICIES MIGHT BE DISQUALIFIED BECAUSE OF SOME RE-EXISTING CONDITION. WE ARE NOT GOING TO HAVE ANY MEDICAL UNDERWRITING. WE DO HAVE A TWO-YEAR WINDOW BEFORE THE FACE VALUE OF THE POLICY GOES INTO EFFECT, AND THEN AFTER THAT TIME, THIS WHOLE LIFE INSURANCE PROGRAM WILL START TO ACCUMULATE CASH VALUE THAT VETERANS WILL BE ELIGIBLE TO DRAW AGAINST OR TO SAVE FOR THEIR LOVED ONES. BRANDI: WE ARE SHOWING A GRAPHIC WITH SOME INFORMATION ON THE SCREEN FOR OUR VIEWERS. WHILE THEY ARE LOOKING AT THAT, EXPLAIN ABOUT VETERANS WHO MAY ALREADY HAVE THE GROUP LIFE INSURANCE, HOW DOES THIS IMPACT THAT, OR DOES IT? >> VETERANS GROUP LIFE INSURANCE IS A POLICY UP TO $400,000 THAT MANY VETERANS CARRY FORWARD FROM THEIR TIME IN UNIFORM. THIS PROGRAM, V.A. LIFE, IS NOT GOING TO IMPACT THOSE WHO HAVE VETERANS LIFE INSURANCE. THE PRIMARY AUDIENCE WE ARE RESPONDING TO OUR OUR VETERANS AND VETERANS SERVICE ORGANIZATIONS WHO, WHEN A FIRST APPLY IN A SERVICE CONNECTED DISABILITY, MAY HAVE MISSED OUT ON THAT TWO-YEAR WINDOW OR HAD SOME OTHER KIND OF MEDICAL COMPLICATION THAT DISQUALIFIED THEM FROM INITIALLY ENROLLING. DEIRDRE: I GUESS THE PUSH NOW IS TO MAKE SURE VETERANS KNOW THAT IT IS EVEN AVAILABLE. THAT IS ONE OF THE TOUGH THINGS. WHAT WOULD YOU SAY TO VETERANS ABOUT JUST SPREADING THE WORD THEMSELVES? >> I THINK YOU ARE SPOT ON RIGHT THERE. WE WANT TO BE ABLE TO LET ALL THAT ARE IN SNOW THAT V.A. — LET ALL VETERANS KNOW THAT V.A. IS DOING EVERYTHING WE CAN. WE ARE INNOVATING TO PROVIDE A SUPERIOR CUSTOMER EXPERIENCE WITH LOTS OF ONLINE TOOLS, INCLUDING DOCUSIGN, A PARTNERSHIP WITH TREASURY FOR PAY.GOV, ONLINE LOAN APPROVALS, AND ONLINE BENEFICIARY UPDATES. BRANDI: THANKS SO MUCH FOR BEING WITH US THIS MORNING. A LOT OF GREAT INFORMATION TO APPRECIATE YOUR TIME. >> THANKS FOR HAVING US. FOR MORE INFORMATION, PLEASE GO

New existence insurance coverage plan launches subsequent yr for veterans

The Division of Veterans Affairs will quickly be offering entire existence insurance coverage to all veterans with service-connected disabilities.The brand new program known as VALife launches on Jan. 1. In keeping with a free up, VALife expands get admission to to existence insurance policy for extra veterans with service-connected disabilities than ever ahead of. It gives assured acceptance of entire existence insurance coverage to all veterans as much as age 80 with service-connected disabilities.Daniel J. Keenaghan, government director of VA Insurance coverage Carrier, joined KCRA 3 on Tuesday to give an explanation for how this system works and who will have to observe. See extra within the video above.

SACRAMENTO, Calif. —

The Division of Veterans Affairs will quickly be offering entire existence insurance coverage to all veterans with service-connected disabilities.

The brand new program known as VALife launches on Jan. 1.

In keeping with a free up, VALife expands get admission to to existence insurance policy for extra veterans with service-connected disabilities than ever ahead of.

It gives assured acceptance of entire existence insurance coverage to all veterans as much as age 80 with service-connected disabilities.

Daniel J. Keenaghan, government director of VA Insurance coverage Carrier, joined KCRA 3 on Tuesday to give an explanation for how this system works and who will have to observe.

See extra within the video above.

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