As a service-disabled veteran, you may be eligible for a special life insurance program offered by the Department of Veterans Affairs (VA). The Service-Disabled Veterans Insurance (S-DVI) program provides life insurance coverage to eligible veterans who have been given a service-connected disability rating by the VA. To apply for this benefit, you will need to complete VA Form 29-4364, also known as the Application for Service-Disabled Veterans Insurance.
Eligibility Requirements for S-DVI
To be eligible for S-DVI, you must meet the following requirements:
- Be a veteran with a service-connected disability rating from the VA
- Be under the age of 65
- Not be totally disabled (if you are totally disabled, you may be eligible for other VA life insurance programs)
- Not have been declined for S-DVI coverage in the past due to a medical condition
Understanding the Application Process
The application process for S-DVI involves several steps, including completing VA Form 29-4364, providing required documentation, and undergoing a medical evaluation if necessary.
- Complete VA Form 29-4364: This form will require you to provide personal and military service information, as well as details about your service-connected disability rating.
- Provide required documentation: You will need to provide documentation to support your application, including your VA disability rating decision letter and any relevant medical records.
- Undergo a medical evaluation if necessary: In some cases, the VA may require you to undergo a medical evaluation to determine your eligibility for S-DVI.
Benefits of S-DVI Coverage
S-DVI coverage provides several benefits to eligible veterans, including:
- Tax-free payments: The premium payments you make for S-DVI coverage are tax-free.
- Flexible coverage amounts: You can choose from a range of coverage amounts, from $10,000 to $10,000 increments up to $40,000.
- Conversion options: You may be able to convert your S-DVI coverage to a commercial life insurance policy if you are no longer eligible for S-DVI.
- No medical exam: In most cases, you will not need to undergo a medical exam to apply for S-DVI coverage.
How to Complete VA Form 29-4364
To complete VA Form 29-4364, follow these steps:
- Section I: Applicant Information - Provide your personal and contact information, including your name, address, and phone number.
- Section II: Military Service Information - Provide information about your military service, including your branch of service, dates of service, and service-connected disability rating.
- Section III: Insurance Information - Choose the coverage amount you want to apply for and provide information about your beneficiary.
- Section IV: Certification - Sign and date the form to certify that the information you provided is true and accurate.
Tips for Submitting Your Application
Here are some tips to keep in mind when submitting your application:
- Make sure to complete the form fully and accurately.
- Provide all required documentation to support your application.
- Submit your application as soon as possible to ensure timely processing.
- Keep a copy of your application and supporting documentation for your records.
What to Expect After Submitting Your Application
After submitting your application, you can expect the following:
- The VA will review your application and verify your eligibility for S-DVI coverage.
- If additional information is needed, the VA will contact you to request it.
- If your application is approved, you will receive a policy and premium information.
- If your application is declined, you will receive a letter explaining the reason for the decline.
Conclusion
Applying for Service-Disabled Veterans Insurance (S-DVI) coverage through VA Form 29-4364 can provide valuable life insurance benefits to eligible veterans. By understanding the eligibility requirements, application process, and benefits of S-DVI coverage, you can make an informed decision about whether this program is right for you. If you have any questions or need help with the application process, don't hesitate to contact the VA or a qualified veterans service organization.
FAQ Section:
What is the purpose of VA Form 29-4364?
+VA Form 29-4364 is used to apply for Service-Disabled Veterans Insurance (S-DVI) coverage, which provides life insurance benefits to eligible veterans.
Who is eligible for S-DVI coverage?
+To be eligible for S-DVI, you must be a veteran with a service-connected disability rating from the VA, be under the age of 65, and not be totally disabled.
What is the maximum coverage amount available under S-DVI?
+The maximum coverage amount available under S-DVI is $40,000, in $10,000 increments.