HR 5993 · 111th Congress · Armed Forces and National Security
SAVINGS Act of 2010
Bill Progress
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Introduced✓
Committee✓
House Vote4
Senate5
EnactedLatest: Received in the Senate and Read twice and referred to the Committee on Veterans' Affairs.(2010-09-29)
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Plain Language Summary
[AI summary unavailable — showing source text]
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.…
Summarized by Claude AI · Non-partisan · For informational purposes only
CBO Cost Estimate
Congressional Budget OfficeH.R. 5993, Securing America's Veterans Insurance Needs and Goals Act of 2010
Sep 28, 2010<p>Cost estimate for the bill as ordered reported by the House Committee on Veterans' Affairs on September 15, 2010</p>
Full CBO report ↗H.R. 5993, Securing America's Veterans Insurance Needs and Goals Act of 2010
Sep 28, 2010Cost estimate for the bill as ordered reported by the House Committee on Veterans' Affairs on September 15, 2010
Full CBO report ↗Official non-partisan budget analysis by the Congressional Budget Office