Veterans' Mortgage Life Insurance (VMLI) is a program offered by the Department of Veterans Affairs (VA) that provides mortgage life insurance for eligible veterans with severe disabilities who have received a VA Specially Adapted Housing (SAH) grant to help them purchase or adapt a home to meet their needs.

The purpose of VMLI is to help pay off the remaining mortgage balance on the home if the veteran dies before the mortgage is fully paid off. VMLI is designed to provide financial security for the veteran's family and to help ensure that they are not burdened with a mortgage payment after the veteran's death.

VMLI is a renewable term insurance policy that provides coverage equal to the amount of the mortgage on the home, up to a maximum of $200,000. The cost of the VMLI premiums is based on the veteran's age, the outstanding mortgage balance, and the loan's interest rate. The premiums are calculated on an annual basis and are automatically adjusted each year to reflect changes in the mortgage balance and interest rate.

To be eligible for VMLI, the veteran must have received a VA Specially Adapted Housing (SAH) grant to help them purchase or adapt a home to meet their needs. They must also be approved for the SAH grant, and the grant must have been used to purchase or adapt a home that they currently occupy. The veteran must have a severe service-connected disability that qualifies them for the SAH grant and must have been approved for VMLI coverage within two years of receiving the SAH grant.

Here is a comparison table of Veterans' Mortgage Life Insurance (VMLI) with other similar services:

The main difference between VMLI and the other services is that VMLI is specifically for disabled veterans who have received a VA Specially Adapted Housing grant. VGLI and SGLI are life insurance programs for veterans and active-duty service members, respectively, while FEGLI is a life insurance program for federal employees.

SGLI and VGLI have a maximum coverage amount of $400,000, which is significantly higher than VMLI's maximum coverage amount of $200,000. However, SGLI and VGLI do not provide mortgage life insurance like VMLI does. FEGLI has no maximum coverage amount, but it is only available to federal employees and does not provide mortgage life insurance.

The services listed above have different eligibility requirements and provide different types of insurance coverage. Veterans and service members should carefully consider their needs and eligibility when deciding which insurance program to enroll in.

Overall, VMLI is a valuable benefit offered by the VA that provides important financial protection for eligible veterans and their families. Veterans who are interested in VMLI should speak with a VA representative to learn more about the program and determine if they are eligible.