Section 1 Short title
This Act may be cited as the “Supporting Families of the Fallen Act”.
Supporting Families of the Fallen Act
A BILL
To authorize the Secretary of Veterans Affairs to increase the maximum amount of a policy under the Veterans' Group Life Insurance and Servicemembers' Group Life Insurance, and for other purposes.
Sec. 2 Veterans Group Life Insurance, Servicemember Group Life Insurance
In general— Section 1967(a)(3)(A)(i) of title 38, United States Code, is amended by striking “$400,000” and inserting “$500,000”.
Effective date and determination of the Secretary— This Act shall take effect on the later of—
60 days after the date of enactment of this Act; or
the 1st date on which the Secretary of Veterans Affairs determines that—
the new maximum amount and the premiums for such amount are administratively and actuarially sound for the insurance program; and
this change will not result in such program operating at a loss.