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VETERANS NEW BENEFIT - Accelerated Benefit life insurance option

SDianeL
SDianeL Member Posts: 3,244
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in Caring For a Spouse or Partner

If your spouse is a veteran and has Veterans Group Life Insurance the new benefit allows a family member or an alternate applicant to apply for an Accelerated Benefit Option (ABO) on a member’s behalf, such as when a member is medically incapacitated. With accelerated benefits, you can get up to 50% of the face value of your coverage in increments of $5,000—paid to you before death. Here's the link to the updated benefit. https://news.va.gov/143584/insurance-accelerated-benefit/?fbclid=IwY2xjawOr03RleHRuA2FlbQIxMQBicmlkETFhb1g0ZTBOQWF3MGJIU2dMc3J0YwZhcHBfaWQQMjIyMDM5MTc4ODIwMDg5MgABHnYku_MtksEFANhVCkRt2qThydJCrPqy9xNPTO6QSEB67M0aX4my0yJneRbr_aem_oSwY8iKOHoOkn7Lt13PWFA

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DH = Dear Husband
DW= Dear Wife, Darling Wife
LO = Loved One
ES = Early Stage
EO = Early Onset
FTD = Frontotemporal Dementia
VD = Vascular Dementia
MC = Memory Care
AL = Assisted Living
POA = Power of Attorney
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