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Is life insurance available, which would pay off the mortgage on a specially adapted house in case the veteran dies before repaying the loan?

April 26, 2017adapted Case House Life Insurance mortgage pay repaying specially veteran

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Is life insurance available, which would pay off the mortgage on a specially adapted house in case the veteran dies before repaying the loan?

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Yes. Most veterans and servicemembers who receive a Specially Adapted Housing Grant are eligible for Veterans Mortgage Life Insurance (VMLI) covering the unpaid principal, not to exceed $90,000, on the mortgage loan. VA representatives will explain this program and assist eligible veterans in applying for this protection using VA Form 29-8636 (Veterans Mortgage Life Insurance Statement). However, VMLI can only be issued to veterans age 69 and younger. Once issued, VMLI will remain in effect, regardless of age, if there is mortgage indebtedness. Questions concerning VMLI should be directed to the Insurance Center located in Philadelphia at 1-800-669-8477.