Policyholders who have permanent plans of insurance under one of the programs listed below may borrow up to 94 percent of the cash value of the policy after it has been in force for one year.

United States Government Life Insurance (USGLI) - USGLI was generally issued to veterans of World War I. This program has been closed to new applicants since 1951.

National Service Life Insurance (NSLI) - NSLI was generally issued to veterans of World War II. This program has been closed to new applicants since 1951.

Veterans' Special Life Insurance (VSLI) - VSLI was generally issued to Korean War-era veterans. This program has been closed to new applicants since 1957.

Service Disabled Veterans Insurance (S-DVI) - S-DVI is issued to qualifying veterans who separated from service on or after April 25, 1951, with service-connected disabilities. This program is still open to new issues.

Veterans Reopened Insurance (VRI) - VRI was generally issued to World War II and Korean veterans with service-connected or serious non-service connected disabilities. This program was open only for one year, from May 1965 to May, 1966, and is closed to new applicants.

In order to qualify for a life insurance policy loan you must have a permanent plan of insurance 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)

Policyholders may borrow up to 94 percent of the cash value of the policy .

A loan may be obtained at the end of the first policy year of a whole life or endowment plan of insurance, which has loan value and is in force on a premium-paying basis or is paid-up. A loan may also be obtained on paid-up additional insurance attached to either permanent or term plans of insurance.

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.

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.

Veterans Benefits Administration (VBA)

http://www.vba.va.gov