The Department of Veterans Affairs (VA) proposes to amend its regulations governing the Veterans’ Mortgage Life Insurance (VMLI) program in order to provide eligible individuals with the opportunity to purchase less than the statutory maximum amount of insurance available under the program. The proposed rule would also amend current VA regulations to reflect that the statutory maximum amount of coverage available under the VMLI program has been increased to $200,000, to define the term eligible individual, and to clarify that eligibility for VMLI coverage has been extended to include Service members as well as Veterans. These additional amendments are necessary to conform the existing regulations to statutory provisions.