Veterans Mortgage Life Insurance (VMLI)
Veterans Mortgage Life Insurance (VMLI) is a program that provides mortgage life insurance to severely disabled Veterans and Servicemembers. Effective July 30, 2008, VMLI was extended to disabled active duty Servicemembers, and Servicemembers and Veterans who suffer from a severe burn injury. Effective October 1, 2011, the Veteran's Act of 2010 increased the maximum amount of VMLI to $150,000 to provide mortgage life insurance payable to the mortgage holder in the event of the Veteran or Servicemember's death. The maximum amount of coverage will increase to $200,000 effective January 1, 2012.