The bill amends Section 30-3-40.4 of the General Laws in Chapter 30-3, which pertains to the National Guard. The amendment involves the reimbursement of life insurance premiums for National Guard members who have been mobilized for more than thirty days and who have elected coverage under a term life insurance policy issued by the federal government. The key changes include an increase in the maximum amount of coverage for which the state will reimburse the premiums from four hundred thousand dollars ($400,000) to five hundred thousand dollars ($500,000). This means that if a National Guard member elects coverage exceeding this amount, the state will only reimburse the cost of premiums up to the first five hundred thousand dollars of coverage.

The explanation provided by the Legislative Council clarifies that the purpose of the act is to raise the amount of life insurance provided at no charge to Rhode Island National Guard members who are called up for federal duty to five hundred thousand dollars ($500,000). The act is set to take effect immediately upon passage. The insertions in the bill include the new coverage amount of five hundred thousand dollars ($500,000), and the deletions include the previous coverage amount of four hundred thousand dollars ($400,000).

Statutes affected:
2352: 30-3-40.4