[Congressional Record Volume 150, Number 60 (Tuesday, May 4, 2004)]
[Extensions of Remarks]
[Page E739]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          JOIN ME IN IMPROVING INSURANCE FOR DISABLED VETERANS

                                 ______
                                 

                            HON. BOB FILNER

                             of california

                    in the house of representatives

                          Tuesday, May 4, 2004

  Mr. FILNER. Mr. Speaker and colleagues, I rise today to urge support 
for improvements for veterans who have become disabled in their service 
to our country. I have introduced H.R. 4229, the ``Fair Insurance for 
Disabled Veterans Act'' to address this need.
  First, when the Service-Disabled Veterans Insurance, SDVI, began in 
1951, it was intended to provide service-disabled veterans with the 
ability to purchase life insurance coverage at ``standard'' rates.
  Unfortunately, these life insurance premiums are based upon mortality 
rates for 1940, while current standard life insurance policies have 
premiums based upon the 2001 mortality table. This means that service-
disabled veterans are being charged premiums based on a table that is 
60 years out of date. The Independent Budget, prepared and endorsed by 
many veterans service organizations, has recommended that the mortality 
table be updated so that service-disabled veterans pay lower premiums 
for insurance. My bill would provide insurance comparable to standard 
policies, based on 2001 tables.
  Second, the VA provides mortgage life insurance, VMLI, up to $90,000 
to severely service-disabled veterans who qualify for specially adapted 
housing grants. Currently, this amount covers only about 72 percent of 
the outstanding mortgage balances because the maximum amount has not 
been increased since 1992. We know how the cost of houses has 
skyrocketed since then in many areas of our country! In May, 2001, an 
evaluation by the Department of Veterans Affairs recommended that the 
coverage be increased to between $150,000 and $200,000. The Independent 
Budget has also recommended that the coverage be increased. H.R. 4229 
implements those recommendations by increasing the maximum to $200,000 
to cover 98 percent of mortgage benefits outstanding.
  I invite my colleagues to support H.R. 4229 to improve insurance 
policies for our Nation's service-connected disabled veterans.