Program Description

Policyholders who have eligible permanent plans of insurance may borrow up to 94 percent of the cash value of the policy after it has been in force for one year or surrender the policy for its cash value. Loans are granted in any amount up to 94 percent of the policy's reserve value, minus any existing indebtedness against the policy, plus interest.

Program Requirements

In order to qualify for a loan or cash surrender, you must also have a permanent plan issued under one of the following programs:

  • United States Government Life Insurance (USGLI) 
  • National Service Life Insurance (NSLI)
  • Veterans' Special Life Insurance (VSLI) 
  • Service Disabled Veterans Insurance (S-DVI) 
  • Veterans Reopened Insurance (VRI) 

Application Process

To apply for a policy loan online please visit the VA Life Insurance homepage.

You can apply for the cash value by submitting:

You can apply for a loan by submitting:

Loan Terms

Variable Interest Rate between 5-12 percent with no Upfront Fees or Pre-payment penalties. Maximum Loan Length at maturity. Maximum Loan Amount 94 percent of the policy reserve value. Annual Payment Frequency.

A loan or cash surrender may be obtained in two ways:

  1. After a whole life or endowment plan has been in force for one year on a premium-paying basis or is paid-up.
  2. On paid-up additional insurance attached to either permanent plans or term plans.


For more information, see the "VA Life Insurance Programs for Veterans and Servicemembers Handbook," topics "Guaranteed Values" and "Policy Loans."

Contact Information

If you have questions:

  • Visit the Inquiry Routing & Information System (IRIS) website to search Frequently Asked Questions or ask a question on-line
  • Call the VA Insurance Center at 1-800-669-8477
  • Call 1-800-829-4833, if you are hearing impaired

Additional Information

Additional Information
Max Loan LengthAt maturity
Interest RateVariable between 5-12%
Max Loan Amount94% of the policy reserve value
Payment FrequencyAnnual
Prepayment PenaltiesNone
FeesNone
Loan Categories
Veterans medal
Veterans Loans