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Increased Life Insurance Coverage for Servicemembers and Veterans

This law raises the maximum automatic life insurance coverage for servicemembers and veterans from $400,000 to $500,000. This means greater financial support for families in the event of the insured's death, potentially improving their financial security.
Key points
Maximum life insurance coverage for servicemembers and veterans increases by $100,000.
The change aims to provide more financial support for families of those serving and former military personnel.
The law will take effect 60 days after enactment or once it's confirmed the changes are feasible and won't cause losses to insurance programs.
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VOTING RESULTS
2022-09-29
For 425
Against 0
Abstain 0
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Status:
Became Law
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Additional Information
Supporting Families of the Fallen Act
Print number: S 2794
Sponsor: Sen. Tuberville, Tommy [R-AL]
Process start date: 2021-09-22
Voting date: 2022-09-29
Meeting no: 2
Voting no: 470