If you have a health condition that makes it difficult to get life insurance elsewhere, you have recently separated from the service, and are eligible to get Veterans Group Life Insurance (VGLI) without having to answer medical questions, I think VGLI is a very good deal.
If you are very healthy and able to get similar rates elsewhere, I would advise to lock in your premium for a longer period of time than Veterans Group Life Insurance locks them in. However, since the rate reduction in 2008, VGLI premiums are good and it may be hard to beat them. You might want to purchase a permanent policy elsewhere along with taking VGLI Term to cover all your life insurance bases.
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If you are very healthy and able to get similar rates elsewhere, I would advise to lock in your premium for a longer period of time than Veterans Group Life Insurance locks them in. However, since the rate reduction in 2008, VGLI premiums are good and it may be hard to beat them. You might want to purchase a permanent policy elsewhere along with taking VGLI Term to cover all your life insurance bases.