A bipartisan bill aimed at modernizing life insurance benefits for U.S. servicemembers and veterans has been signed into law by President Trump. The Fairness for Servicemembers and their Families Act, led by Senators Ted Cruz (R-Texas), John Cornyn (R-Texas), Maggie Hassan (D-N.H.), Angus King (I-Maine), and Representatives Keith Self (R-Texas-03) and Marilyn Strickland (D-Wash.-10), is designed to ensure that life insurance packages keep pace with the rising cost of living.
Senator Cruz stated, “We owe our servicemembers and their families a debt we can never repay, and we have a straightforward obligation to ensure they are financially secure. This bill brings us one step closer to fulfilling that goal, and I’m thankful to President Trump for signing it into law.”
Senator Cornyn commented, “We need to make sure service members, veterans, and their families have the financial support they need and deserve. I’m grateful to President Trump for his unwavering support of our brave men and women in uniform and for signing this bill into law, which will help ensure the Veterans Affairs Department can offer competitive life insurance packages that keep pace with the current cost of living.”
Senator Hassan added,“While we can never fully repay the debt that we owe to those who serve our country, we should work each and every day to get them the benefits that they deserve. This bipartisan legislation will help ensure that the life insurance offered for our veterans and servicemembers is keeping pace with real-world costs to help protect the financial security of the families of those who serve.”
Senator King said, “Our servicemembers, veterans and their families make countless sacrifices every day to protect our nation, and we are indebted to their selfless service. With the bipartisan Fairness for Servicemembers and their Families Act, we can ensure life insurance packages for military members adjust with the rising cost of living — giving more peace of mind to military families as they increasingly face the difficulties of an unstable economy. I’m grateful to my colleagues, and the President for signing a bill into law that honors our commitment to the brave men and women who have given so much to our country.”
Representative Keith Self stated,“I’m grateful to President Trump for standing with our military families and signing the Fairness for Servicemembers and Their Families Act into law. This commonsense bill ensures our veterans and their families receive the full value of the benefits they’ve earned by requiring the Department of Veterans Affairs to regularly review and adjust the maximum coverage for servicemembers’ and Veterans’ Group Life Insurance programs to keep pace with inflation—so these hard-earned benefits never lose value to rising costs.”
Representative Strickland remarked,“Our servicemembers put their lives on the line for their country and we must protect the well-being of their families in the event of a tragedy. This new law makes it clear that our nation will always stand by our military families.”
The legislation also received cosponsorship from Senators Thom Tillis (R-N.C.), Pete Ricketts (R-Neb.), Mark Kelly (D-Ariz.), and Mazie Hirono (D-Hawaii).
From 2006 through 2023, maximum group insurance values available through government programs did not increase despite inflation rates rising during this period. The new law mandates that every five years, the U.S. Department of Veterans Affairs must report on increased living costs affecting benefit levels to both Senate and House Committees on Veterans’ Affairs.
Senator Ted Cruz has held his seat since first winning election in 2012 against Paul Sadler. He was re-elected in 2018 after defeating Beto O'Rourke, then again in 2024 after defeating Colin Allred.
