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

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.

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.

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

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.