[Congressional Record Volume 151, Number 124 (Thursday, September 29, 2005)]
[Extensions of Remarks]
[Page E1987]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




      SERVICEMEMBERS' GROUP LIFE INSURANCE ENHANCEMENT ACT OF 2005

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                               speech of

                            HON. BOB FILNER

                             of california

                    in the house of representatives

                     Wednesday, September 28, 2005

  Mr. FILNER. Mr. Speaker, I rise today to urge support for the bill 
that is before us, H.R. 3200, the ``Servicemembers' Group Life 
Insurance Enhancement Act'' of 2005, a bill that I have cosponsored.
  This bill will increase federally subsidized life insurance for 
military personnel to $400,000, and that increase will be permanent.
  If one of our Nation's finest men and women is killed in the line of 
duty, it is our Nation's obligation to provide an insurance policy that 
can assist the family in meeting expenses. These changes make the 
insurance more in line with today's economy, and I support the passage 
of H.R. 3200.
  There are a few other insurance changes, beyond H.R. 3200, that I 
believe are also the right steps to take. These changes would, first of 
all, affect the Service-Disabled Veterans Insurance, SDVI.
  When this insurance began in 1951, the premiums were based on the 
1940 mortality rate. Current standard life insurance policies have 
premiums based on the 2001 mortality rate--except for the SDVI, which 
still charges premiums based on a table that is 60 years out of date. 
This results in higher premiums, premiums that can be as much as 3 
times what veterans should be paying.
  The Independent Budget, prepared and endorsed by many Veterans' 
Service Organizations, has recommended that the mortality table be 
updated. I have introduced a bill, H.R. 2747, the ``Disabled Veterans 
Life Insurance Enhancement Act'', that would make this important change 
and decrease this premium payment for disabled veterans.
  A second part of H.R. 2747 affects the mortgage life insurance for 
severely service-disabled veterans (VMLI). Currently, this insurance 
covers only about 55 percent of the outstanding mortgage balance. We 
know how the cost of houses has skyrocketed in many areas of our 
country. In May, 2001, an evaluation by the Department of Veterans 
Affairs recommended increased coverage. H.R. 2747 implements those 
recommendations by increasing the maximum which would be expected to 
cover 94 percent of mortgage balances.
  Let us begin to update and fix the insurance for our service members 
and our veterans by passing H.R. 3200. And I also encourage my 
colleagues to cosponsor my insurance bill, H.R. 2747, which expands 
what we are doing here today to additional insurance provisions and 
programs.

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