MERGER OF RETIRED RESERVE SERVICEMEMBERS’ GROUP LIFE INSURANCE AND VETERANS’ GROUP LIFE INSURANCE AND EXTENSION OF VETERANS’ GROUP LIFE INSURANCE TO MEMBERS OF THE READY RESERVE.

SEC. 402. MERGER OF RETIRED RESERVE SERVICEMEMBERS’ GROUP LIFE INSURANCE AND VETERANS’ GROUP LIFE INSURANCE AND EXTENSION OF VETERANS’ GROUP LIFE INSURANCE TO MEMBERS OF THE READY RESERVE. (a) Definitions.— Section 1965(5) is amended— (1) by adding “and” at the end of subparagraph (B); (2) by striking out subparagraphs (C) and (D); and (3) by redesignating subparagraph (E) as subparagraph (C). (b) Persons Insured.— Section 1967 is amended— (1) in subsection (a)— (A) by inserting “and” at the end of paragraph (1); (B) by striking out paragraphs (3) and (4); and (C) in the matter following paragraph (2), by striking out “or the first day a member of the Reserves, whether or not assigned to the Retired Reserve of a uniformed service, meets the qualifications of section 1965(5)(C) of this title, or the first day a member of the Reserves meets the qualifications of section 1965(5)(D) of this title,”; and (2) by striking out subsection (d). (2) by striking out subsection (d). (c) Duration and Termination of Coverage.— Section 1968 is amended— (1) in subsection (a)— (A) by striking out “subparagraph (B), (C), or (D) of section 1965(5)” in the matter preceding paragraph (1) and inserting in lieu thereof “section 1965(5)(B)”; (B) by striking out the period at the end of paragraphs (1) and (2) and inserting in lieu thereof a semicolon; (C) by striking out the period at the end of paragraph (3) and inserting in lieu thereof “; and”; (D) in paragraph (4)— (i) by striking out “one hundred and twenty days after” in the matter preceding subparagraph (A) and all that follows through “(A) unless on” and inserting in lieu thereof “120 days after separation or release from such assignment, unless on”; (ii) by striking out “prior to the expiration of one hundred and twenty days” and inserting in lieu thereof “before the end of 120 days”; (iii) by striking out the semicolon after “such assignment” and inserting in lieu thereof a period; and (iv) by striking out subparagraphs (B) and (C); and (E) by striking out paragraphs (5) and (6); and (2) in subsection (b), by striking out the last two sentences. (d) Deductions.— Section 1969 is amended— 110 STAT. 3338 (1) in subsection (a)(2), by striking out “is assigned to the Reserve (other than the Retired Reserve)” and all that follows through “section 1965(5)(D) of this title,”; (2) by striking out subsection (e); and (3) by redesignating subsections (f) and (g) as subsections (e) and (f), respectively. (e) Conversion of SGLI to VGLI.— The Service members’ Group Life Insurance of any member of the Retired Reserve of a uniformed service shall be converted to Veterans’ Group Life Insurance effective 90 days after the date of the enactment of this Act.