Aaron Polk
Aaron Polk founded Golden Shield Life Insurance after his father, a Green Beret, was nearly scammed while shopping for life insurance before moving to the Philippines. As a licensed independent agent in Atlanta, he compares 130+ carriers so veterans and their families can buy private coverage with confidence.
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Already have military or VA coverage? Start by checking your current death benefit, then compare private policies based on your family's needs and budget.
Key Takeaways
My father served as a Green Beret, and my grandfather served as a tank driver during World War II. Before my father moved to the Philippines, he wanted to put life insurance in place, and he was nearly scammed in the process. It was a nightmare for our family, and it is the reason I built Golden Shield Life Insurance: so veterans can shop for and buy private life insurance for themselves and their family members with someone they can trust. I did not serve in the military myself. I want you to understand what you already own before you buy more.
A policy can help your beneficiaries replace income, pay a mortgage or VA home loan, cover funeral costs, support children, or settle business obligations. Whether you recently separated or are retired military, you can own private coverage alongside eligible military or VA benefits.
Add up the income your family would need, your mortgage and other debts, education, and final expenses. Subtract savings and existing insurance. The difference is a starting point, not a required purchase amount.
| Financial Responsibility | Estimated Amount |
|---|---|
| Income replacement | $________ |
| Mortgage or housing | $________ |
| Debt and final expenses | $________ |
| Children and education | $________ |
| Spouse or dependent support | $________ |
| Business obligations | $________ |
| Other financial goals | $________ |
| Minus existing life insurance | − $________ |
| Minus savings and investments | − $________ |
| Minus dependable survivor resources | − $________ |
| Estimated Coverage Gap | $________ |
No personal details needed. Helps veterans see gaps in their plans.
Here is an illustrative coverage calculation for a married 40-year-old veteran earning $60,000 a year.
| Financial Need | Amount |
|---|---|
| Seven years of income replacement | $420,000 |
| Mortgage balance | $250,000 |
| Debt and final expenses | $25,000 |
| Education funding | $100,000 |
| Existing life insurance and savings | − $95,000 |
| Estimated Coverage Gap | $700,000 |
Golden Shield Life Insurance helped us with our two kids. My wife and mother get life insurance with benefits. They actually care and understand that people matter.
Term life: Coverage for a set period, commonly 10, 20, or 30 years. Often useful for income replacement or a mortgage, and often the most budget-friendly way to buy a large amount of coverage.
Whole life: Permanent insurance with generally fixed premiums and cash value, provided required premiums are paid.
Final expense: Smaller permanent policies often used for funeral costs and remaining bills, sometimes called burial insurance for veterans. Older veterans can also read our guide to life insurance for seniors.
No-exam or guaranteed issue: Some policies, including life insurance with no medical exam, do not require an exam. Guaranteed issue life insurance asks no health questions at all. Guaranteed issue typically has lower coverage limits and an initial limited-benefit period.
Mortgage protection: Term coverage that may help surviving family members pay off a home loan.
| Policy Type | Good Fit For | How Long It Lasts | Cash Value | Medical Exam |
|---|---|---|---|---|
| Term Life | Income replacement, a mortgage, raising children | 10 to 30 years | No | Often required; no-exam options may be available |
| Whole Life | Lifelong coverage, final expenses, legacy planning | Lifetime | Yes | Usually required, depending on the amount |
| Final Expense | Funeral costs and small remaining bills | Lifetime | Limited | Usually no exam, health questions only |
| Guaranteed Issue | Serious health conditions | Lifetime | Limited | No exam or health questions; benefits may be limited in early years |
| Mortgage Protection | Paying off a home loan, including a VA loan | Policy term | No | Varies by insurance company |
| Indexed Universal Life | Permanent coverage with flexible premiums | Lifetime | Yes, linked to an index | Usually required |
Veterans life insurance rates for private policies depend on age, coverage amount, policy length, tobacco use, and health history. Term life usually offers more coverage per dollar than whole life. Compare real quotes with matching death benefits and policy terms.
A VA disability rating does not by itself decide whether a private insurer will cover you. Private insurers look at your health history, medications, and current condition, and each company weighs them differently. The same veteran can be declined by one insurer and approved by another.
Veterans with a service-connected disability rating may also be eligible for VALife, the VA's guaranteed acceptance whole life program.2 Private options include fully underwritten policies, simplified issue final expense, and guaranteed issue life insurance with no health questions.
Choose term for a temporary financial need, such as protecting income while children are growing up. Consider whole life for lifelong coverage, final expenses, or cash value. Some people combine both. For a deeper look, read our guide to term vs. whole life insurance for veterans, or compare whole life insurance quotes.
For term life, I often compare Mutual of Omaha, Banner Life, and Fidelity Life. For whole life and final expense, I often compare Americo, Baltimore Life, and Ethos, an online platform whose policies are issued by partner insurance companies. Which one fits depends on your age, health, coverage amount, and how each company underwrites.
| Feature | Term Life Insurance | Whole Life Insurance |
|---|---|---|
| How long it lasts | 10, 15, 20, or 30 years | Your entire life, as long as premiums are paid |
| Monthly cost | Usually lower | Usually higher |
| Cash value | No | Yes, subject to policy terms |
| Best for | Temporary financial needs | Permanent financial needs |
| Coverage amount | Often allows higher death benefits for the same budget | Often purchased in smaller amounts because of the higher premium |
Before buying private coverage, check what you already have. Eligible SGLI generally continues for 120 days after leaving service. If you are totally disabled when you separate, the SGLI Disability Extension may keep that coverage at no cost for up to 2 years, but you must apply for it.4 VGLI has its own application deadlines and age-based premiums, and VALife is a separate VA whole life program.12
If you are leaving the military, verify your options directly with the VA on VA.gov life insurance or by calling the VA Insurance Center at 800-669-8477. Golden Shield Life Insurance sells private policies, not VA benefits.
VGLI and VALife are government programs run by the VA. Golden Shield Life Insurance does not sell them. Private policies are issued by commercial insurance companies, and those are the policies we compare for you. Here is how they compare.12
| VGLI | VALife | Private Coverage | |
|---|---|---|---|
| Who can apply | Former SGLI members, within 1 year and 120 days of separation | Veterans age 80 or younger with a service-connected disability rating, including 0% | Anyone who qualifies with the insurer |
| Coverage amount | Up to your SGLI amount at separation | Up to $40,000 | Varies by insurer and policy |
| Health questions | None if you apply within 240 days of separation | None, guaranteed acceptance | Usually, depending on the policy |
| Premiums | Increase with age | Fixed once locked in | Depend on the policy type |
| Waiting period | None | 2 years before the full benefit applies | Usually only on guaranteed issue plans |
If you are in good health, a private policy may cost less than VGLI as you get older. If you have serious health conditions, applying for VGLI inside the 240-day window or for VALife may be the stronger choice. Many veterans keep one and add the other.
Different private insurers may offer different prices, coverage amounts, and underwriting decisions for the same applicant. Golden Shield Life Insurance helps you compare veterans life insurance quotes from multiple insurance companies without charging a fee for quotes.
Request a quote or speak with a licensed broker near you. You can also contact us to schedule a call. Before you buy, the NAIC's Life Insurance Buyer's Guide (PDF) is a helpful checklist of questions to ask.3
The best life insurance for veterans depends on age, health, budget, and coverage needs. For term life insurance and income protection, I often recommend Mutual of Omaha, Banner Life, and Fidelity Life for their pricing, flexible coverage amounts, and no-medical-exam options for eligible applicants. For permanent whole life insurance, cash value, and final expense coverage, my preferred choices are Americo, Baltimore Life, and Ethos. Ethos is an online platform, and its policies are issued by partner insurance companies. As a former national medical underwriter and licensed life insurance broker, I recommend comparing multiple carriers to find coverage that protects your family and fits your long-term needs.
Not permanently. SGLI coverage generally continues for 120 days after separation at no cost. If you are totally disabled when you leave the military, you may be able to apply for the SGLI Disability Extension, which can continue your coverage at no cost for up to 2 years. It is not automatic. After free coverage ends, veterans pay premiums to keep coverage, whether through VGLI, VALife, or a private policy. Golden Shield Life Insurance helps veterans compare private coverage with guidance from a licensed independent broker.
Prices depend on age, health, tobacco use, policy type, and coverage amount. There is no single veteran rate for private insurance.
Yes, depending on the insurer and policy. A VA disability rating does not by itself decide private eligibility. Private insurers look at your health history, medications, and current condition. Veterans with a service-connected disability rating may also be eligible for VALife, the VA's guaranteed acceptance whole life program.
VA disability compensation is tax-free monthly income for service-connected conditions, and eligible veterans may also receive VA health care and other assistance. Private life insurance with living benefits adds a different kind of protection: depending on the policy and rider, you may be able to access part of your death benefit while still alive if diagnosed with a qualifying critical, chronic, or terminal illness. Using a living benefit reduces the death benefit your beneficiaries receive, and rider availability varies by insurer and state. Unlike VA disability benefits, private living benefits are not limited to service-connected conditions. Having both can help veterans protect their income, savings, and families when life takes an unexpected turn.
Some insurers offer no-exam options. Approval may still depend on health questions or records. Guaranteed issue plans typically have smaller benefits and early coverage limitations.
Yes. Eligible veterans can generally own private life insurance alongside VA coverage. Review existing benefits before adding coverage.
SGLI coverage generally continues for 120 days after separation at no cost. If you are totally disabled at separation, you may be able to apply for the SGLI Disability Extension, which can continue free coverage for up to 2 years. To keep VA group coverage, you can apply for VGLI within 1 year and 120 days of separation. If you apply within 240 days, you will not have to answer health questions. If you receive the Disability Extension, VGLI can begin when the extension ends.
VGLI is VA group term coverage for former SGLI members, issued up to the SGLI amount you had at separation, with premiums that increase as you age. Private life insurance is issued by a commercial insurer, and rates and coverage depend on your age, health, and the policy you choose. Veterans in good health may find lower private rates, while veterans with serious health conditions may benefit from applying for VGLI within the 240-day no-health-questions window.
Protect what matters, at a premium you can keep paying. Review your existing coverage, compare private policies, and choose an amount that fits your family. We can help you review quotes with no pressure.
Aaron Polk
Founder, Golden Shield Life Insurance
Call, text, or schedule a time that works for you. We listen, explain the fine print, and compare your options with no pressure.
Written and Reviewed By
Founder, Golden Shield Life Insurance
Former National Medical Underwriter and Licensed Life Insurance Broker · Georgia License 3710928 · NPN 21216745 · Georgia Agency License 242517
Aaron Polk built Golden Shield Life Insurance after his father, a Green Beret, was nearly scammed while trying to buy life insurance before moving to the Philippines. Today the agency helps veterans and their family members shop and buy private life insurance, with an office in Atlanta and licensed agents who work with clients nationwide by phone and video. He compares more than 130 insurance companies rated A- or better by AM Best.
How this guide was made: Written by a licensed agent from first-hand casework, not compiled from other insurance websites. Government program details and deadlines are checked against the numbered references in the disclaimer below, each of which is linked. Terms are confirmed again at the time of quoting.
Updated November 2026