INFORMATION TO BE PROVIDED MEMBERS CONCERNING AUTOMATIC MAXIMUM COVERAGE OF $200,000 UNDER SERVICEMEN’s GROUP LIFE INSURANCE.

SEC. 404. INFORMATION TO BE PROVIDED MEMBERS CONCERNING AUTOMATIC MAXIMUM COVERAGE OF $200,000 UNDER SERVICEMEN’s GROUP LIFE INSURANCE. Section 1967, as amended by section 402(b), is further amended by inserting after subsection (c) the following new subsection (d): “(d) Whenever a member has the opportunity to make an election under subsection (a) not to be insured under this subchapter, or to be insured under this subchapter in an amount less than the maximum amount of $200,000. and at such other times periodically thereafter as the Secretary concerned considers appropriate, the Secretary concerned shall furnish to the member general information concerning life insurance. Such information shall include— “(1) the purpose and role of life insurance in financial planning; “(2) the difference between term life insurance and whole life insurance; “(3) the availability of commercial life insurance; and “(4) the relationship between Servicemembers’ Group Life Insurance and Veterans’ Group Life Insurance. ”.