Securing America's Veterans Insurance Needs and Goals Act of 2010

Bill: 111-hr-5993
Sponsor: Rep. Halvorson, Deborah L. [D-IL-11]
Introduced: 2010-07-30 in the House
Policy area: Armed Forces and National Security
Subjects: Consumer affairs
Financial literacy
Insurance industry and regulation
Interest, dividends, interest rates
Life, casualty, property insurance
User charges and fees
Veterans' pensions and compensation

Summary:
action_date: 2010-07-30
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.

action_date: 2010-09-28
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 specified information with respect to interest payable and the various methods of receiving payment(s). Prohibits a company from charging fees to a payee for maintaining such payment with the company. Directs the Secretary of Veterans Affairs (VA) to include in each annual performance and accountability report submitted to Congress information concerning individuals receiving the counseling and disclosures required under this Act.
 
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.

action_date: 2010-09-29
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 specified information with respect to interest payable and the various methods of receiving payment(s). Prohibits a company from charging fees to a payee for maintaining such payment with the company. Directs the Secretary of Veterans Affairs (VA) to include in each annual performance and accountability report submitted to Congress information concerning individuals receiving the counseling and disclosures required under this Act.
 
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.


Legislative actions:
action_date: 2010-09-29
text: Received in the Senate and Read twice and referred to the Committee on Veterans' Affairs.
action_date: 2010-09-29
text: Motion to reconsider laid on the table Agreed to without objection.
action_date: 2010-09-29
text: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 358 - 66 (Roll no. 552). (text: CR 9/28/2010 H7020-7021)
action_date: 2010-09-29
text: Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 358 - 66 (Roll no. 552).(text: CR 9/28/2010 H7020-7021)
action_date: 2010-09-29
text: Considered as unfinished business. (consideration: CR H7258)
action_date: 2010-09-28
text: At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
action_date: 2010-09-28
text: DEBATE - The House proceeded with forty minutes of debate on H.R. 5993.
action_date: 2010-09-28
text: Considered under suspension of the rules. (consideration: CR H7020-7027)
action_date: 2010-09-28
text: Mr. Filner moved to suspend the rules and pass the bill, as amended.
action_date: 2010-09-28
text: Placed on the Union Calendar, Calendar No. 368.
action_date: 2010-09-28
text: Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 111-628.
action_date: 2010-09-28
text: Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 111-628.
action_date: 2010-09-15
text: Ordered to be Reported (Amended) by Voice Vote.
action_date: 2010-09-15
text: Committee Consideration and Mark-up Session Held.
action_date: 2010-07-30
text: Referred to the House Committee on Veterans' Affairs.
action_date: 2010-07-30
text: Introduced in House
action_date: 2010-07-30
text: Introduced in House