VetsFirst’s advocacy has contributed to the passage of legislation that will increase the coverage limits available under the Veterans’ Mortgage Life Insurance (VMLI) program.
On October 13, President Obama signed the Veterans’ Benefits Act of 2010 (H.R. 3219). This legislation includes important increases to the VMLI program to help ensure that the families and dependents of qualifying veterans with disabilities will be able to keep their homes in the event of the veteran’s death.
The legislation provides for phased in increases to the current coverage limits. The first increase from the current maximum of $90,000 to $150,000 will take effect on October 1, 2011. The maximum benefit will subsequently increase to $200,000 on January 1, 2012.
VetsFirst supported these increases to ensure that veterans with disabilities who are unable to receive this type of coverage elsewhere due to their service-connected disabilities can protect their families and dependents. Specifically, increasing the VMLI coverage limit to a level that is more in line with current home prices will help to ensure that veterans with disabilities will not have to worry that their families and dependents may be left homeless in the event of the veteran’s death.
The legislation also includes other provisions that are important to veterans with disabilities. Effective October 1, 2011, the amount of funding available for the purchase of an automobile will be increased from $11,000 to $18,900. In addition, veterans with severe burn injuries will be able to receive assistance with the purchase of an automobile and special adaptive equipment.
VetsFirst will continue to advocate for legislation and policy that provides the level and types of supports that veterans with disabilities and their families need and deserve.