Service members and veterans would be able to boost their life insurance coverage by $100,000 under a bill passed by the Senate

03 Apr Service members and veterans would be able to boost their life insurance coverage by $100,000 under a bill passed by the Senate

From: Military.com | By Rebecca Kheel

Service members and veterans would be able to boost their life insurance coverage by $100,000 under a bill passed by the Senate on Wednesday night.

The bill, dubbed the Supporting Families of the Fallen Act, would increase maximum coverage from $400,000 to $500,000 for both the Servicemembers’ Group Life Insurance plan and the Veterans’ Group Life Insurance plan. Neither plan has had an increase in the cap on coverage offered since 2005.

“Sometimes, it’s the little things that really help,” Sen. Tommy Tuberville, R-Ala., the bill’s sponsor, said.   READ MORE HERE.