Bill > HR970

This bill requires the Secretary of Veterans Affairs to conduct periodic reviews of the automatic maximum coverage under the Servicemembers' Group Life Insurance (SGLI) and Veterans' Group Life Insurance (VGLI) programs. Specifically, starting on January 1, 2026, and every five years thereafter, the Secretary must review how the current maximum life insurance coverage amount compares to an adjusted amount calculated by multiplying $500,000 by the average percentage change in the Consumer Price Index (CPI) over the preceding five fiscal years. The results of these reviews will be submitted to the House and Senate Veterans' Affairs Committees and can potentially serve as a guide for incremental coverage increases. The bill aims to ensure that life insurance coverage for servicemembers and veterans keeps pace with economic changes and inflation, providing a mechanism to periodically assess and potentially update the maximum insurance coverage amounts to maintain their real-world value over time.

Health and Social Services, Military Affairs and Security

https://www.congress.gov/bill/119th-congress/house-bill/970/all-info