Close Menu
Insurance Journal – Property Casualty Insurance News

    Subscribe to Updates

    Get the latest creative news from FooBar about art, design and business.

    What's Hot

    Protesters Target Travelers Insurance Over Fossil Fuel Ties

    July 6, 2025

    Sokoto State Police to Enforce Third-Party Motor Insurance from February 2025

    July 6, 2025

    New Renters’ Rights Bill Amendment: A Blow to Landlords

    July 6, 2025
    Facebook X (Twitter) Instagram
    Insurance Journal – Property Casualty Insurance NewsInsurance Journal – Property Casualty Insurance News
    Facebook X (Twitter) Instagram
    SUBSCRIBE
    • Home
    • Business Insurance
    • Identity Protection
    • Life Insurance
    • Pets Insurance
    • Property Insurance
    • Vevehicle Insurance
    Insurance Journal – Property Casualty Insurance News
    Home ยป Senate Passes Bill to Adjust Military Life Insurance for Inflation
    Life Insurance

    Senate Passes Bill to Adjust Military Life Insurance for Inflation

    insurancejournalnewsBy insurancejournalnewsApril 28, 2025No Comments3 Mins Read
    Facebook Twitter Pinterest LinkedIn Tumblr Reddit WhatsApp Email
    Share
    Facebook Twitter LinkedIn Pinterest WhatsApp Email

    The U.S. Senate has passed the Fairness for Servicemembers and their Families Act, a bipartisan bill introduced by Senators John Cornyn (R-TX), Ted Cruz (R-TX), Angus King (I-ME), Mazie Hirono (D-HI), and Mark Kelly (D-AZ). The legislation aims to ensure that life insurance packages for service members, veterans, and their families are adjusted to reflect the current cost of living and inflation rates.

    Background of the Legislation

    The bill seeks to address the issue that the maximum insurance value available to service members and veterans has remained unchanged since 2006, failing to keep up with inflation. By adjusting these insurance packages, the bill aims to improve the financial safety net for military families.

    Statements from Sponsoring Senators

    “As the nation continues to feel the effects of inflation, we need to make sure service members, veterans, and their families have the financial support they need and deserve,” said Sen. Cornyn. “Our bill would help ensure the Veterans Affairs Department can offer competitive life insurance packages that keep pace with the current cost of living.”

    Sen. Cruz emphasized the importance of honoring those who have served: “Our nation’s service members and veterans put their lives on the line to protect America and defend our freedom. Adjusting the value of their life insurance policies in line with inflation will ensure that America rightly honors their memory and cares for their loved ones.”

    Other senators echoed similar sentiments, highlighting the bipartisan support for the legislation and its significance for military families. Sen. King noted, “Servicemembers, veterans, and their families have selflessly dedicated their lives in service to our nation. This bill makes clear our commitment to standing by military families.”

    Key Provisions of the Act

    The Fairness for Servicemembers and their Families Act not only aims to adjust insurance coverage according to inflation but also seeks to improve reporting requirements. This would prevent years-long gaps in assessing inflation rates by the U.S. Veterans Affairs Department and relevant congressional committees.

    The bill has garnered support from both sides of the aisle, with cosponsors including Senator Mike Braun (R-IN) and Maggie Hassan (D-NH). Companion legislation was introduced in the House by Representatives Don Bacon (NE-02) and Marilyn Strickland (WA-10).

    Impact on Military Families

    For too long, life insurance coverage for servicemembers and their families has failed to keep up with the rising cost of living, leaving them without the financial security they deserve. This legislation is a step towards rectifying that issue, ensuring that military benefits keep pace with inflation and honoring their service and sacrifice.

    inflation adjustment military life insurance US Senate Veterans Affairs
    insurancejournalnews
    • Website

    Related Posts

    Protesters Target Travelers Insurance Over Fossil Fuel Ties

    July 6, 2025

    Sokoto State Police to Enforce Third-Party Motor Insurance from February 2025

    July 6, 2025

    New Renters’ Rights Bill Amendment: A Blow to Landlords

    July 6, 2025
    Leave A Reply Cancel Reply

    Don't Miss
    Business Insurance

    Protesters Target Travelers Insurance Over Fossil Fuel Ties

    By insurancejournalnewsJuly 6, 20250

    Activists in Hartford, Connecticut, protested Travelers Insurance for continuing to work with oil and gas companies, citing health and financial risks.

    Sokoto State Police to Enforce Third-Party Motor Insurance from February 2025

    July 6, 2025

    New Renters’ Rights Bill Amendment: A Blow to Landlords

    July 6, 2025

    Access Denied: Website Unavailable Outside United States

    July 6, 2025
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    Our Picks

    Protesters Target Travelers Insurance Over Fossil Fuel Ties

    July 6, 2025

    Sokoto State Police to Enforce Third-Party Motor Insurance from February 2025

    July 6, 2025

    New Renters’ Rights Bill Amendment: A Blow to Landlords

    July 6, 2025

    Access Denied: Website Unavailable Outside United States

    July 6, 2025

    Subscribe to Updates

    Get the latest creative news from SmartMag about art & design.

    Demo
    New

    Montana Eyes Workers’ Comp for First Responders with PTSD

    February 24, 2025

    Best Home and Auto Insurance Deals for Veterans

    February 24, 2025

    Pennsylvania Insurance Department: Protecting Consumers and Regulating the Insurance Market

    February 24, 2025
    Categories
    • Business Insurance (1,820)
    • Identity Protection (531)
    • Life Insurance (1,725)
    • New (5,603)
    • Pets Insurance (518)
    • Property Insurance (986)
    • Vevehicle Insurance (467)
    Business Insurance

    Protesters Target Travelers Insurance Over Fossil Fuel Ties

    By insurancejournalnewsJuly 6, 20250
    Facebook X (Twitter) Instagram Pinterest
    © 2025 Insurance Journal News. Designed by Insurance Journal New.

    Type above and press Enter to search. Press Esc to cancel.