*Rates are based on standard VGLI age bands. Actual premiums may vary slightly based on specific VA policy updates.
function calculateVARates() {
var ageInput = document.getElementById('veteranAge');
var coverageInput = document.getElementById('coverageAmount');
var frequencyInput = document.getElementById('paymentFrequency');
var errorDiv = document.getElementById('vaError');
var resultsDiv = document.getElementById('vaResults');
var age = parseInt(ageInput.value);
var coverage = parseFloat(coverageInput.value);
var frequency = parseInt(frequencyInput.value);
// Reset display
errorDiv.style.display = "none";
resultsDiv.style.display = "none";
// Validation
if (isNaN(age) || age 110) {
errorDiv.innerText = "Please enter a valid age between 18 and 110.";
errorDiv.style.display = "block";
return;
}
// VGLI Rate Logic (Monthly Rate per $1,000 of coverage)
// Based on typical age banding structures
var monthlyRatePer1000 = 0;
var ageGroupText = "";
if (age = 30 && age = 35 && age = 40 && age = 45 && age = 50 && age = 55 && age = 60 && age = 65 && age = 70 && age = 75 && age = 80) {
monthlyRatePer1000 = 18.00; // General approximation for highest tier
ageGroupText = "80 and over";
}
// Calculation
// 1. Calculate Monthly Premium Base
var units = coverage / 1000;
var monthlyPremium = units * monthlyRatePer1000;
// 2. Adjust for Frequency (VGLI offers discounts for less frequent payments:
// Approx: Quarterly = Monthly * 3 * 0.98 (Example discount), but VGLI standard calc is usually straight multiplication
// with slight discount. For simplicity and safety, we will simulate standard VGLI discounts:
// Quarterly: 2.5% discount approx. Semi: 3.75%. Annual: 5%.
// Formulas used by VA are usually factor based.
// Monthly factor: 1
// Quarterly factor: 3 (No discount in some docs, but SGLI/VGLI often implies simple multiplication or slight discount.
// To be safe and accurate to the "Rate Calculator" request, we calculate total cost for the period).
// Let's use standard multiplication for estimation to avoid under-quoting cost.
var totalPremium = monthlyPremium * frequency;
// Formatting Currency
var formatter = new Intl.NumberFormat('en-US', {
style: 'currency',
currency: 'USD',
minimumFractionDigits: 2
});
// Update UI
document.getElementById('resAgeGroup').innerText = ageGroupText;
document.getElementById('resRatePer1k').innerText = "$" + monthlyRatePer1000.toFixed(2);
document.getElementById('resCoverage').innerText = formatter.format(coverage);
var freqLabel = "";
if(frequency === 1) freqLabel = " / month";
if(frequency === 3) freqLabel = " / quarter";
if(frequency === 6) freqLabel = " / 6 months";
if(frequency === 12) freqLabel = " / year";
document.getElementById('resPremium').innerText = formatter.format(totalPremium) + freqLabel;
resultsDiv.style.display = "block";
}
Understanding VA Life Insurance Rates
Veterans Affairs (VA) life insurance programs, specifically Veterans' Group Life Insurance (VGLI), determine premiums based primarily on the veteran's age and the amount of coverage selected. Unlike private term life insurance, VGLI does not require a medical exam if you apply within a specific window after separation from service, making it a critical option for veterans with service-connected disabilities.
How VGLI Premiums are Calculated
The cost of VGLI is calculated using an age-based scale. As a veteran moves into a new five-year age bracket (e.g., moving from 39 to 40), the premium rate per $1,000 of coverage increases. This structure allows younger veterans to access very affordable rates, though costs rise significantly in later years.
Age Bands: Rates are locked in five-year increments (e.g., 30-34, 35-39).
Coverage Units: Premiums are calculated per $1,000 of coverage.
Maximum Coverage: The maximum VGLI coverage amount is currently $500,000.
Comparing VGLI vs. Private Insurance
When using this calculator, consider that private insurance rates are often determined by health status, smoking status, and lifestyle. VGLI rates are standard regardless of gender, smoking status, or health. For a veteran with significant health issues, the "standard" VGLI rate calculated above is often much cheaper than a "rated" policy in the private market.
Tips for Managing Premiums
Because VGLI rates increase with age, many veterans choose to reduce their coverage amount as they get older to keep the monthly premium affordable. This strategy allows you to maintain some level of protection for final expenses without the burden of high premiums in the 70+ age brackets.