Securing America's Veterans Insurance Needs and Goals Act of 2010 or SAVINGS Act of 2010 - Requires a life insurance company, in order to provide life insurance for veterans under the Servicemembers' Group Life Insurance program, to: (1) provide financial counseling to the beneficiary or other person entitled to payment upon the establishment of a valid claim; and (2) include full disclosure with respect to such payment, including specified information with respect to interest payable and the various methods of receiving payment(s). Prohibits a company from charging fees to a payee for maintaining such payment with the company. Directs the Secretary of Veterans Affairs (VA) to include in each annual performance and accountability report submitted to Congress information concerning individuals receiving the counseling and disclosures required under this Act.
Requires: (1) the Director of the VA's Office of Survivor Assistance to attend each meeting of the Advisory Council on Servicemembers' Group Life Insurance; and (2) the Secretary to ensure that such Office has the necessary personnel to provide information on the receipt of such counseling.
Introduced in House
Introduced in House
Referred to the House Committee on Veterans' Affairs.
Committee Consideration and Mark-up Session Held.
Ordered to be Reported (Amended) by Voice Vote.
Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 111-628.
Reported (Amended) by the Committee on Veterans' Affairs. H. Rept. 111-628.
Placed on the Union Calendar, Calendar No. 368.
Mr. Filner moved to suspend the rules and pass the bill, as amended.
Considered under suspension of the rules. (consideration: CR H7020-7027)
DEBATE - The House proceeded with forty minutes of debate on H.R. 5993.
At the conclusion of debate, the Yeas and Nays were demanded and ordered. Pursuant to the provisions of clause 8, rule XX, the Chair announced that further proceedings on the motion would be postponed.
Considered as unfinished business. (consideration: CR H7258)
Passed/agreed to in House: On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 358 - 66 (Roll no. 552).(text: CR 9/28/2010 H7020-7021)
Roll Call #552 (House)On motion to suspend the rules and pass the bill, as amended Agreed to by the Yeas and Nays: (2/3 required): 358 - 66 (Roll no. 552). (text: CR 9/28/2010 H7020-7021)
Roll Call #552 (House)Motion to reconsider laid on the table Agreed to without objection.
Received in the Senate and Read twice and referred to the Committee on Veterans' Affairs.
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