H.R. 6013 · 116th Congress
Veteran Families Financial Support Act
- Stage
- In committee
- Sponsor
- Mike Bost
- Introduced
- 2020-02-28
- Latest action
- 2020-03-09 · Referred to the Subcommittee on Disability Assistance and Memorial Affairs.
Summary
Veteran Families Financial Support Act
This bill requires the Department of Veterans Affairs (VA) to implement a new veterans life insurance program starting January 1, 2023, for veterans with a service-connected disability. The policy does not go into force unless a veteran has been paying premiums for two years after enrollment. If a veteran dies during the two-year period, the VA shall pay the veteran's beneficiary the amount of premiums paid by the veteran plus interest.
The bill phases out an existing service-disabled veteran insurance program upon the implementation of the program in this bill.