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With Veterans' Group Life Insurance (VGLI), you may be able to keep your life insurance coverage after you leave the military for as long as you continue to pay the premiums. Veterans' Group Life Insurance (VGLI) provides for the conversion of. VGLI is a life insurance program which allows service members to convert their SGLI coverage to renewable term insurance. What is VGLI? The acronym stands for Veterans Group Life Insurance and this is an option for those who wish to continue their life insurance policy started while. Active duty service members enjoy very low term life premiums through SGLI, and once out of the service, the Veterans' Group Life Insurance program (VGLI). What Is Veterans Group Life Insurance (VGLI)?.