TIMEFRAME FOR DESIGNATION OF ALTERNATE BENEFICIARIES AND PAYMENT OF BENEFITS UNDER DEPARTMENT OF VETERANS AFFAIRS LIFE INSURANCE PROGRAMS.

SEC. 2. TIMEFRAME FOR DESIGNATION OF ALTERNATE BENEFICIARIES AND PAYMENT OF BENEFITS UNDER DEPARTMENT OF VETERANS AFFAIRS LIFE INSURANCE PROGRAMS. (a) National Service Life Insurance.—Section 1917(f)(1) of title 38, United States Code, is amended— (1) in subparagraph (A), by striking “two years” and inserting “one year”; and (2) in subparagraph (B), by striking “four” and inserting “two”. (b) United States Government Life Insurance.—Section 1952(c)(1) of such title is amended— (1) in subparagraph (A), by striking “two years” and inserting “one year”; and (2) in subparagraph (B), by striking “four” and inserting “two”. (c) [38 U.S.C. 1917 note] Effective Date.—The amendments made by this section shall apply with respect to the death of an insured person occurring on or after the date that is two years before the date of the enactment of this Act.