Disabled Veterans Life Insurance Enhancement Act of 2005 - Amends Federal provisions concerning service-disabled veterans' life insurance to make the amount of such insurance $50,000, or such lesser amount evenly divisible by $10,000.
States that the premium rates for such insurance for months beginning: (1) before the date of enactment of this Act shall be based upon the Commissioners 1941 Standard Ordinary Table of Mortality and interest at the rate of two and one-fourth percent per year; and (2) on or after the date of enactment of this Act shall be based upon such Table at a four and one-half percent interest rate. Makes the same changes with respect to all policy cash, loan, paid-up, and extended values.
Increases from $90,000 to $200,000 the maximum amount of veterans' mortgage life insurance coverage.
Includes still-born children within dependent coverage under the Servicemembers Group Life Insurance program.