Do you know a good life insurance agent for disabled Veterans?

SPC Elijah J. Henry, MBA — Sat, 16 Feb 2019 11:18:35 -0500

I'd like some help understanding my options.

Response by LTC Stephen F. made Feb 16 at 2019 11:19 AM

LTC Stephen F. — Sat, 16 Feb 2019 11:19:59 -0500

That is a great question, my friend SPC Elijah J. Henry, MBA.
I recommend using an insurance broker who represents many different insurance companies and bills them, not you directly. It is not surprising if the agent gets paid via your premiums but it is worth knowing for how long.
Where are you located, my friend?
Depending on where you are may help find an agent.

1. The younger you are the better to begin shopping for life insurance.
2. Life insurance is all about potential for life expectancy. Therefore the natures of the disability are critical as well as the life expectancy associated with it.
3. I have always preferred purchasing life insurance without considering it an investment with cash value. The cost is lower that way.
4. I began my insurance experience [after SGLI] with what is now known as First Command in Columbus, Georgia in 1985. I purchased $25K with options to purchase more independent of my health. That was great because as my disabilities became evident cost went up.
5. I purchased similar policies for three of my sons when they were young.
What do you think? LTC Stephen C. LTC John Shaw COL Mikel J. Burroughs SSG(P) James J. Palmer IV aka "JP4"

Response by Capt Daniel Goodman made Feb 16 at 2019 11:46 AM

Capt Daniel Goodman — Sat, 16 Feb 2019 11:46:13 -0500

http://www.vetadvocates.org

The NOVA guys are all great, knowledgeable, and well aware of a lot of stuff, check their search engine, or call their office, one of their guys finished all my stuff when it got too involved for a major vet group, though the vet group was really good, and did try...trust me, pay any consult fee for any of their guys, it'd be money well spent, promise, I and others have sent their stuff in many, many times on here, I'm here if you wanna yak, no rush, whenever you want, if you also wanna elaborate at all, I'll try to give you my thoughts, my whole thing took six and half years from start to finish, I'm also gonna send you something VA has you might find applicable, lemme send this first, OK?

Home

Response by Capt Daniel Goodman made Feb 16 at 2019 11:48 AM

Capt Daniel Goodman — Sat, 16 Feb 2019 11:48:23 -0500

https://benefits.va.gov/insurance/s-dvi.asp

You've gotta be 100% or the legal equivalent for this, the thing is, if you can get it, maybe with the NOVA guys helping, the first $10K is paid for free by Congress, then you can get up to $30K more taken out of any VA-disability allotment, we had it set up for my wife when we got me approved, I've got one thing more, also, in case you don't know about it, I'll send this now first as well, OK?

Service-Disabled Veterans Insurance (S-DVI) - Life Insurance

Program provided to meet the insurance needs of certain Veterans with service-connected disabilities

Response by Capt Daniel Goodman made Feb 16 at 2019 11:57 AM

Capt Daniel Goodman — Sat, 16 Feb 2019 11:57:37 -0500

https://www.va.gov/COMMUNITYCARE/programs/dependents/champva/index.asp

We got this also for my wife, it's only for her, not me, we need to have me use the VA hospitals, or VA Choice, if we need stuff for me, they're really good, very helpful, call [login to see] , that's their toll-free, we got six and half years of back money on my wife, though we had to have me send, I kid thee not, 10000 pages of stuff, in two gynormous boxes, by postal Express Mail, out to the main CHAMPVA offices in Denver, they got it all done, I was also able to speak with the claim staff directly, not just using the toll-free phone line...the only thing is, getting money thereafter tends to be rather more problematic, as any copays your wife might pay, or for your dependent kids, if applicable, to any clinician or facility needs to be sent in, generally, on a HCFA Form 1500...thus far, we've only gotten back copay from one office, I always pa copays, I loathe bills, even though we're constantly asked why I insist on it, since generally, one is encouraged by billers and coders to wait for all insurances to process first, it's just a "me" thing, I guess...the other thing is, if you've got other policies, we have an Empire we got through my wife's retirement, that precludes electronic rollover from Medicare, as Congress never provided for intervening secondary policies for that, Congress allows electronic rollover from Medicare directly to CHAMPVA, just not if you have any policies in between, then an office has to send in claims by snail mail, it's supposed to be fixed eventually, though God knows when, you know? CHAMPVA is essentially the equivalent of TRICARE, which used to be called CHAMPUS till Congress morphed the name, the CHAMPVA name was kept, though the CHAMPUS name was gotten rid of, for whatever reason...if you wanna know more, just ask, I'll try to explain more, OK?

index.asp

Response by 1SG Private RallyPoint Member made Feb 16 at 2019 6:50 PM

1SG Private RallyPoint Member — Sat, 16 Feb 2019 18:50:07 -0500

The problem with the VA S-DVI is:
"You apply within 2 years from the date VA grants your new service-connected disability."
Face amount is cut by ½ the day before 65th birthday
but premium remains the same for lifetime.
Cheapest permanent plan, but…
Pamphlet, like most insurance plans, suggest at 69, the $10,000 is reduced by half, and the monthly premium is $64.26 per $1,000, so >$7,700 annually.
Not that any other insurance will be much better.
The video commercial on the page is nearly laughable. Specifically, "I wanted to take care of my wife." For how long, though the end of the funeral?