Veterans' Benefits Act of 1992

[AI summary unavailable — showing source text] Dependency and Indemnity Compensation Reform Act of 1992 - Title I: Dependency and Indemnity Compensation Reform - Revises the formula for the computation of the payment to surviving spouses of veterans of dependency and indemnity compensation to make such payment a flat monthly amount of $700, increased by $50 monthly in the case of: (1) the death of a veteran while performing active duty; or (2) the death of a veteran due to a service-connected disability if such disability was rated total either for the five years immediately preceding death or from the date of the veteran's discharge. Provides that, for the payment of such compensation to surviving spouses of veterans who died before October 1, 1992, the monthly rate shall be the higher amount between the current and revised formula. Increases the additional rate paid to a surviving spouse for each child of the deceased veteran under the age of 18. Title II: Life Insurance Programs - Increases the maximum amount of Servicemen's Group Life Insurance authorized to be carried by a veteran from $100,000 to $200,000 in additional increments of $10,000. Increases to $200,000 the authorized amount of Veterans' Group Life Insurance and…