Requires service-disabled life insurance premium rates, as well as all policy cash, loan, paid-up, and extended values, for months beginning on or after the date of enactment of this Act to be based on the 1980 Commissioners Standard Ordinary Basic Table of Mortality, with five percent annual interest.
Increases from $90,000 to $200,000 the maximum amount of veterans' mortgage life insurance coverage. Requires the United States to automatically insure any eligible veteran age 69 or younger (currently, any eligible veteran) for such coverage. Repeals the provision terminating such coverage upon the veteran's 70th birthday.