The bill amends Section 30-3-40.4 of the General Laws concerning the National Guard, specifically addressing the reimbursement of life insurance premiums for mobilized members. It establishes that any National Guard member who elects coverage under a federal term life insurance policy in an amount in excess of five hundred thousand dollars ($500,000) will receive reimbursement from the general fund for the premiums attributable to the first five hundred thousand dollars of coverage under said policy. The bill increases the maximum coverage amount eligible for reimbursement from four hundred thousand dollars ($400,000) to five hundred thousand dollars ($500,000). This change aims to enhance the financial support provided to Rhode Island National Guard members during federal duty, ensuring they have adequate life insurance coverage at no cost to them. The act is set to take effect upon passage.

Statutes affected:
5053: 30-3-40.4