Legislation increases military-backed life insurance coverage after decades of stagnation
WASHINGTON – U.S. Senator Tommy Tuberville (R-AL), along with Senators Kevin Cramer (R-ND) and Rick Scott (R-FL), today introduced the Supporting Families of the Fallen Act, legislation to increase the U.S. Department of Veterans’ Affairs Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI) coverage amount from $400,000 to $500,000. SGLI and VGLI coverage amounts have not been updated since 2005.
“Our military families support our warfighters in the dangers of battle and through the most difficult times. We hope they never receive that horrible call, but when one of our service members pays the ultimate sacrifice, their family should be taken care of. This legislation is one way to ease their financial worries and hopefully alleviate the peripheral stress that comes with mourning the loss of a loved one,” said Senator Tommy Tuberville.
“While inflation is on the rise in the United States, the maximum amount we allow for beneficiaries of certain VA life insurance policies has remained stagnant for over 15 years,” said Senator Kevin Cramer. “Our bill would authorize a significant raise in that maximum amount so veterans can better provide their families with stability and peace of mind for the future.”
“As a Navy veteran and the son of a World War II veteran, I know firsthand the sacrifices our men and women in uniform and their families make to defend our freedom. The Supporting Families of the Fallen Act provides families of fallen service members and veterans with the resources they deserve after the tragic loss of a loved one. I urge my colleagues to support this good bill,” Senator Rick Scott said.
Senator Tommy Tuberville represents Alabama in the United States Senate and is a member of the Senate Armed Services, Agriculture, Veterans’ Affairs, and HELP Committees.