5 Best Life Insurance Companies for Veterans in 2026

Reviewed monthly. Last updated: December 2025.

The U.S. Department of Veterans Affairs (VA) offers life insurance benefits for veterans, as it does for active duty military. But VA life insurance policies aren't your only option. In some cases, buying coverage on your own may be your best bet.

All of our best life insurance companies for veterans scored at least 4.9 out of 5 stars. We confirmed they all extend coverage to veterans, though in many cases you’ll need to go through the typical application process. Some companies offer additional programs to benefit veterans.

» MORE: Best life insurance companies in 2026

About USAA’s life insurance for veterans

While many of USAA’s financial products are exclusively for the military community, its life insurance policies are open to anyone. You can transition from SGLI or VGLI to term life coverage with USAA, and you must have a USAA policy in place during your active service period to be eligible for this extra coverage.

📄 Policies offered: Term, whole. Universal and final expense policies are available through third parties.

⭐ Standout life insurance policy: For quick coverage, consider USAA’s Eagle Express term policy. If you qualify, you could get same-day coverage without having to take a medical exam. This simplified issue policy is available to those aged 18 to 70.

Online experience: USAA’s site offers some policy information and the ability to get an online quote. To learn more about the conversion program for veterans, the company refers you to the VA website.

What to know about applying for a policy: USAA sells a policy that skips the medical exam. Depending on your answers to a few health questions, a medical exam may be required for other types of life insurance.

Where this insurer stands out: Those who have a USAA term policy to supplement their SGLI while serving can add extra coverage with USAA after leaving the military. You can get coverage up to the face value of your SGLI policy without answering health questions or taking a medical exam.

» Read the full review: USAA life insurance

About Guardian’s life insurance for veterans

Like most other insurers on this list, Guardian can help you convert a VA group life insurance policy (such as VGLI or SGLI) into an individual whole life policy without having to reapply for coverage or take a medical exam.

📄Policies offered: Term, whole, universal and variable universal.

⭐Standout life insurance policy: Guardian Limited Payment Whole Life offers $25,000 to millions of coverage for eligible applicants from 0 to 90, with options to pay off your policy in 10, 15, or 20 years.

Riders available:

• Accelerated death benefit.

• Accidental death benefit.

• Waiver of premium. 

• DuoGuard (beneficiary purchase option).

• Guaranteed insurability. 

• Paid-up additions.

• Index participation feature. 

• Lifetime protection builder. 

• Long-term care. 

• Policy split option. 

• 10-year annually renewable term. 

Online experience: Guardian’s site features a lot of general information about life insurance, but very few policy-specific details. And while you can get a quote online, you’ll have to contact Guardian to buy a policy.

What to know about applying for a policy: If you take advantage of the VGLI or SGLI conversion program, you won’t need to prove you’re in good health to get a new policy with Guardian. You can get the same amount of coverage you currently have on your government term policy, or choose a lower death benefit.

Where this insurer stands out: Guardian offers affordable rates on term and universal coverage. To get one of these policies, veterans will generally need to work with a financial professional and go through the company’s standard underwriting process.

» Read the full review:Guardian Life insurance

About New York Life’s life insurance for veterans

Veterans are eligible to apply for all of New York Life’s policies, and the company’s lineup of both payment plans and policy add-ons is diverse. For example, you can choose a level term policy, which keeps your premiums the same over the 10 to 20 years the policy is in effect. Or, you could opt for a yearly term policy, which can be renewed annually as needed or converted to a permanent policy.

📄 Policies offered: Term, whole, universal and variable universal.

⭐ Standout life insurance policy: New York Life’s Custom Whole Life Insurance policy gives you the flexibility to pay it off early, eliminating stress on tight budgets during retirement years.

Riders available:

• Spouse’s paid-up purchase option.

• Waiver of premium.

• Accelerated death benefit.

• Chronic care benefit.

• Paid-up additions.

• Accidental death benefit.

• Extended term insurance.

• Child’s protection benefit.

• Insurance exchange.

• 5-year level term.

Online experience: New York Life is a rare insurer in that it has a user-friendly site that’s transparent about the company’s policies. But you can’t get a quote or apply for coverage online.

What to know about applying for a policy: You’ll need to work with an agent to apply for a life insurance policy through New York Life, and most policies require a medical exam. One exception to this is the guaranteed issue life insurance offered through AARP.

Where this insurer stands out: In addition to participating in the VA's group life insurance conversion program, New York Life offers a range of whole and universal insurance. With these options, you’ll build cash value and have coverage that can last your entire life. Depending on which permanent policy you choose, you might have access to dividend earnings, flexible premiums or the opportunity to invest your cash value.

» Read the full review: New York Life insurance

About Northwestern Mutual’s life insurance for veterans

Northwestern Mutual offers a variety of term and permanent policies, all of which are available to veterans who go through the company’s standard underwriting process. Northwestern Mutual also participates in the conversion program from VA policies to whole life insurance.

📄 Policies offered: Term, whole, universal and variable universal.

⭐ Standout life insurance policy: Northwestern Mutual’s Custom Universal Life policy lets you adjust the death benefit and premiums so your coverage can evolve as your needs change.

Riders available:

• Long-term care.

• Waiver of premium.

• Guaranteed insurability.

Online experience: Northwestern Mutual’s site is simple to navigate but sparse on some policy-specific details. You can’t get a quote or buy a policy online, so plan on taking the time to connect with someone from Northwestern Mutual’s network of financial advisors.

What to know about applying for a policy: If you’d like to get a quote or apply for a policy, Northwestern’s site will ask about your financial goals, age, location, household income, phone number and email address. You’ll be paired with an advisor who will contact you to continue the application process. Most policies require a medical exam.

Where this insurer stands out: The company draws a lower rate of consumer complaints to state regulators than most of the life insurance companies we review. Northwestern Mutual has also topped J.D. Power’s survey for customer satisfaction in individual life insurance for the last decade.

» Read the full review: Northwestern Mutual life insurance

About Thrivent’s life insurance for veterans

Thrivent is a fraternal organization that offers life insurance policies to its members, who must have a Christian affiliation. Other member benefits include volunteer opportunities, caregiving resources, health care discounts and estate planning tools. Note that Thrivent does not participate in the VA life insurance conversion program.

📄 Policies offered: Term, whole, universal and variable.

⭐ Standout life insurance policy: Thrivent offers a hybrid policy called CareForward that combines long-term care coverage with life insurance. This can help to pay for expenses that aren’t covered by standard health insurance if you end up needing help with daily tasks.

Riders:

• Guaranteed purchase option. 

• Guaranteed increase option. 

• Waiver of premium. 

• Paid-up additions. 

• Insurance split option benefit.

Online experience: Thrivent’s site makes it easy to get an idea of how much you’ll pay for term life insurance, but you’ll have to connect with a financial advisor if you want a quote for other types of policies. Thrivent also has a mobile app so policyholders can manage their life insurance or connect with their assigned financial advisor.

What to know about applying for a policy: While you can’t apply for a policy online, you might be able to skip an exam if you’re 18 to 60 years old and not trying to get more than $3 million in coverage.

Where this insurer stands out: Thrivent has plenty of opportunities for veterans to convert term life insurance policies into permanent ones. For example, you can convert your term life coverage within the first five years of purchasing the policy. You can also add a conversion rider that would allow you to upgrade to permanent coverage anytime before you’re 70.

» Read the full review: Thrivent life insurance

When you join the military, you typically receive Servicemembers' Group Life Insurance, or SGLI. Veterans generally can convert that coverage to Veterans' Group Life Insurance within one year and 120 days of leaving active service. VGLI is a type of term life policy that stays in force as long as you pay the premiums.

The amount of coverage you can get is based on the amount of SGLI coverage you have. But you can increase the death benefit by $25,000 after the first year of coverage and again every five years after that until you reach age 60, up to a maximum of $500,000.

If you convert your SGLI policy to VGLI within 240 days of leaving service, you don’t need to prove you’re healthy to qualify for coverage. However, if you apply after 240 days and before the end of the one-year-and-120-day window, you’ll likely have to provide evidence of good health as part of the application process.

The VA offers Veterans Affairs Life Insurance, or VALife, policies to former military members with disabilities connected to their service. Rates are based on your age, and coverage amounts are low — the maximum amount is $40,000.

VALife is guaranteed issue life insurance, which means you don’t need to take a medical exam or answer questions about your health to get coverage. It’s a whole life policy that lasts a lifetime as long as you keep paying your premiums. VALife’s rates are based on your age at the time you apply and won’t change as you get older.

The policy has a two-year waiting period. If you die during this time, your beneficiaries will receive the premiums you’ve paid to date, plus interest, not the full death benefit. At the end of the two years, the policy’s cash value will start to accumulate, and the VA will pay out the full death benefit when you die.

VGLI may be a good option if you have a medical issue. You can qualify for VGLI coverage regardless of your health if you apply quickly after leaving the military. This means you may be able to get up to $500,000 of life insurance without your medical history affecting the cost of your policy. Plus, VGLI coverage can be less expensive than some private options that skip the medical exam, such as guaranteed issue life insurance. These policies don’t require any information on your health, but typically offer lower coverage amounts at a higher cost.

For example, a $20,000 guaranteed issue policy for a 50-year-old man costs $948 per year on average, according to Choice Mutual, a life insurance brokerage specializing in this type of coverage. The same applicant can get $100,000 of coverage for $348 per year with a VGLI policy.

However, guaranteed issue premiums typically stay the same, while premiums for VGLI coverage increase over time. So it’s a good idea to get quotes from a range of private insurers before you make a decision.

» MORE: How to get life insurance with pre-existing conditions

Whether you can find cheaper coverage elsewhere, want a policy that can build cash value or need more than VA life insurance offers, you might decide to buy your own individual policy after you leave the military.

VGLI doesn’t extend coverage to spouses and children like the VA does for active military members with SGLI. So if you want additional coverage for your family, you’ll need to buy it on the open market. Military spouses who have coverage through Family Servicemembers’ Group Life Insurance, or FSGLI, may be able to convert this coverage to an individual policy.

If you want to buy private life insurance as a veteran, you have two options.

Option 1: Buy an individual policy

Check out insurers that cater to veterans, like USAA and the other carriers on this list, or the American Armed Forces Mutual Aid Association. These companies offer term and permanent coverage specifically geared to active and former military members and their families.

To find the best rates for a policy on the open market, you can compare life insurance quotes online or speak to an independent life insurance agent.

» MORE: Best life insurance companies

Option 2: Convert your VGLI policy to an individual one

If you want to convert your existing SGLI or VGLI coverage to an individual policy, you can do so through a participating company. VGLI policies can be converted at any time, while SGLI coverage must be converted within 120 days of leaving the military. You don’t need to provide medical information to insurers when converting your SGLI or VGLI coverage to an individual policy. However, an insurer may ask you questions about your health to see if you qualify for a lower rate.

Here's a list of participating companies:

• American Fidelity Life Insurance.

• EMC National Life.

• Guardian Life.

• Life Insurance Company of Alabama.

• MassMutual.

• Metropolitan Life Insurance

• New York Life.

• Northwestern Mutual.

• Prudential.

• Trans World Assurance.

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