Veterans can now keep their life insurance even if they miss a payment

The Department of Veterans Affairs changed the rules for two life insurance programs. Veterans who miss a payment will no longer automatically lose their coverage.

Before this change, if a veteran missed a payment, their life insurance policy would lapse immediately. This meant they could lose coverage even for a simple administrative error. Now, veterans have a grace period to catch up on payments, which protects them from losing a critical benefit due to a minor oversight.