On Monday, President Joe Biden signed into law a bill sponsored by U.S. Senator Tommy Tuberville (R-Auburn) that increases service members’ life insurance coverage to $500,000.
The Supporting Families of the Fallen Act raises the U.S. Department of Veterans’ Affairs Servicemembers’ Group Life Insurance and Veterans’ Group Life Insurance coverage by $100,000, from $400,000 to $500,000. This marks the first time coverage has been raised since 2005.
“The families of America’s heroes deserve our unwavering support and appreciation,” Tuberville said in a press release. “Increasing the life insurance benefit provided to families of those who pay the ultimate sacrifice was long overdue, and I am proud to see this important legislation signed into law. We can never fully repay our service members and military families for their sacrifice, but I am committed to finding ways to show our appreciation by doing everything I can to support our troops and their loved ones.”
A member of the Senate Veterans’ Affairs Committee, Tuberville first introduced the bill in September 2021. It was later approved by the U.S. Senate in March and passed last week by the U.S. House of Representatives. The bill was cosponsored by eight other senators.
“The Supporting Families of the Fallen Act is long overdue and will authorize the Servicemembers’ Group Life Insurance and Veterans’ Group Life Insurance to catch up with inflation,” president and CEO of Military Officers Association of America said Dana Atkins in the release. “This legislation is ultimately about supporting the families of service members and MOAA looks forward to growing bi-partisan support for this important modernization of life insurance.”