Bill > S385

This bill mandates that the Secretary of Veterans Affairs conduct a periodic review of the automatic maximum coverage for Servicemembers' Group Life Insurance (SGLI) and Veterans' Group Life Insurance (VGLI) every five years, beginning on January 1, 2026. Specifically, the Secretary must compare the current maximum coverage amount 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 CPI, published by the Bureau of Labor Statistics, is a measure of the average change in prices paid by urban consumers for goods and services. After completing the review, the Secretary is required to submit the results to the Veterans' Affairs Committees in both the House of Representatives and the Senate, with these findings potentially serving as a guide for future coverage increases. The bill, officially titled the "Fairness for Servicemembers and their Families Act of 2025", aims to ensure that life insurance coverage for service members and veterans keeps pace with inflation and economic changes, providing a systematic approach to potentially updating insurance coverage amounts.

Military Affairs and Security

https://www.congress.gov/bill/119th-congress/senate-bill/385/all-info