Public Safety Officers Group Life Insurance Act

[AI summary unavailable — showing source text] Public Safety Officers' Group Life Insurance Act - Authorizes the Law Enforcement Assistance Administration to purchase from life insurance companies a policy or policies of group life insurance to provide the benefits provided under this Act. Provides that each such life insurance company must: (1) be licensed to issue life insurance in each of the 50 states of the United States and in the District of Columbia; and (2) as of the most recent December 31 for which information is available to the administration have in effect at least one percent of the total amount of group life insurance which all life insurance companies have in effect in the United States. Provides that any purchased policy shall automatically insure any Public Safety Officer employed by a State or local government which has applied to participate in the insurance program and agreed to deduct from such officer's pay the amount of the premium, to be forwarded to the proper Federal agency as designated by the Administration. Specifies the amount of life insurance an officer may receive on the basis of his pay rate. Requires that policies purchased under this Act provide officers accidental death and dismemberment i…