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Review of Servicemembers' and Veterans' Life Insurance: Higher Benefits

This new act mandates regular reviews of maximum life insurance coverage for servicemembers and veterans. The goal is to adjust benefit amounts for inflation, potentially leading to higher payouts for families in the future. These changes aim to ensure that insurance benefits better reflect current living costs.
Key points
Every five years, starting in 2026, the Department of Veterans Affairs will review the maximum life insurance coverage for servicemembers and veterans.
The insurance amount will be compared to $500,000, adjusted by the average Consumer Price Index increase over the preceding five years.
The aim is to ensure that insurance benefits keep pace with the cost of living, potentially providing greater financial support to families in the event of the insured's death.
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Status:
Introduced
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Additional Information
Fairness for Servicemembers and their Families Act of 2025
Print number: S 385
Sponsor: Sen. Cornyn, John [R-TX]
Process start date: 2025-02-04