True or False: Once a veteran is notified of the grant of service-connection, they are eligible for VMLI regardless of coverage amount.

The statement is true because once a veteran is approved for service-connected compensation from the Department of Veterans Affairs, they become eligible for Veterans Mortgage Life Insurance (VMLI). This insurance is designed to help pay off a veteran's mortgage in the event of their passing, ensuring that the family remains protected from losing their home.

Eligibility for VMLI is not limited by the coverage amount—veterans can apply for coverage that ensures their home loan is paid in full. The only prerequisite for accessing this benefit is the veteran's status of being granted service-connection for a disability, making the coverage available to them and their families without further restrictions concerning the amount of coverage they can apply for.

Other options, such as the need to apply within a specific timeframe or conditions based on loan amounts, are not accurate in this context. VMLI is available to all eligible veterans regardless of these factors.