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Mandating Regular Inflation Review for Servicemembers' and Veterans' Life Insurance

This Act requires the Department of Veterans Affairs (VA) to regularly review the maximum coverage amounts for Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI). The goal is to ensure that the maximum available life insurance benefits keep pace with inflation, thereby protecting the financial security of military families. These reviews will occur every five years, starting in 2025, using the Consumer Price Index (CPI) as a benchmark.
Key points
Requires a mandatory review of the maximum life insurance coverage (SGLI/VGLI) for servicemembers and veterans every five years.
The review compares the current maximum coverage to an inflation-adjusted benchmark based on the Consumer Price Index (CPI).
The findings guide potential administrative increases in coverage limits, enhancing financial protection for beneficiaries.
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Additional Information
Print number: 118_S_1299
Sponsor: Sen. Cornyn, John [R-TX]
Process start date: 2023-04-26
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Summarized by: gemini-2.5-flash-preview-09-2025
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Fairness for Servicemembers and their Families Act of 2024

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 118_S_1299.

Which chamber initiated this legislation?

This legislation was initiated in the Senate.

When did the legislative process begin?

The process officially started on 2023-04-26.

What are the main provisions?

Key points include:

  • Requires a mandatory review of the maximum life insurance coverage (SGLI/VGLI) for servicemembers and veterans every five years.
  • The review compares the current maximum coverage to an inflation-adjusted benchmark based on the Consumer Price Index (CPI).
  • The findings guide potential administrative increases in coverage limits, enhancing financial protection for beneficiaries.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Sen. Cornyn, John [R-TX].

What is the latest detailed status?

The latest detailed status is: Passed Senate with an amendment by Unanimous Consent. (text of amendment in the nature of a substitute: CR S7096)

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-26.

CATEGORIES

Benefits Security