A MOAA-supported bill increasing the amount of life insurance available to servicemembers and veterans via two popular VA plans took a major step forward last week, passing the Senate via a voice vote.

The Supporting Families of the Fallen Act (S. 2794) would increase the automatic maximum coverage under both the Servicemembers’ Group Life Insurance (SGLI) and Veterans’ Group Life Insurance (VGLI) plans from $400,000 to $500,000. It would be the first coverage-cap increase for either plan since 2005.

[TAKE ACTION: Ask Your House Member to Co-Sponsor the Supporting Families of the Fallen Act]

"This legislation is ultimately about supporting the families of servicemembers,” said MOAA President and CEO Lt. Gen. Dana T. Atkins, USAF (Ret). “MOAA looks forward to growing bipartisan support for this important modernization of life insurance."

The bipartisan bill heads to the House for consideration. The House version of the bill (H.R. 3793), introduced in June 2021 by Reps. Chip Roy (R-Texas) and Mike Levin (D-Calif.), has 13 co-sponsors. Sen. Tommy Tuberville (R-Ala.), who introduced the Senate version, told Military.com the bill “has good support” in the House.

The bill marks a major step toward adjusting SGLI and VGLI coverage for inflation. According to the Bureau of Labor Statistics inflation calculator, $400,000 coverage in January 2005 would represent more than $595,000 in purchasing power in February 2022.

While the $100,000 increase doesn’t cover the entire amount, the legislation could set the stage for Congress to make further adjustments – moves necessary to protect the benefit of these insurance programs and preserve the financial security of military families.

Ask your House member to back the Supporting Families of the Fallen Act today.