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United States · Bill · HR

H.R. 5993 (111th)

SAVINGS Act of 2010

referredUnited States· United States Congress· EN

Introduced

30 July 2010

Last action

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Status

Received in the Senate and Read twice and referred to the Committee on Veterans' Affairs.

Sponsors

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Subjects

Discovery layer

Source updated

7 April 2025

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Summary

Securing America's Veterans Insurance Needs and Goals Act of 2010 or SAVINGS Act of 2010 - Requires a life insurance company, in order to provide life insurance for veterans under the Servicemembers' Group Life Insurance program, to: (1) provide financial counseling to the beneficiary or other person entitled to payment upon the establishment of a valid claim; and (2) include full disclosure with respect to such payment, including advantages and disadvantages of maintaining such payment with the company versus a financial institution. Prohibits a company from charging fees to a payee for maintaining such payment with the company. Requires: (1) the Director of the VA's Office of Survivor Assistance to attend each meeting of the Advisory Council on Servicemembers' Group Life Insurance; and (2) the Secretary to ensure that such Office has the necessary personnel to provide information on the receipt of such counseling.

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Documents

11 official files

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