Law Enforcement Officers Group Life Insurance Act

Law Enforcement Officers Group Life Insurance Act - Authorizes the Attorney General to purchase from life insurance companies a policy or policies of group life insurance to provide the benefits specified under this Act.

Provides that each such life insurance company must: (1) be licensed to issue life insurance in each of the fifty States of the United States and in the District of Columbia; and (2) as of the most recent December 31 for which information is available to the Secretary have in effect at least one percent of the total amount of group life insurance which all life insurance companies have in effect in the United States.

Provides that any purchased policy will automatically insure any law enforcement officer employed on a full time basis by a State or local government which has applied to participate in the insurance program and agrees to deduct from such officer's pay the amount of the premium, to be forwarded to the proper federal agency. Specifies the amount of life insurance an officer may receive on the basis of their pay rate.

Provides that each policy purchased under this Act shall contain a provision, in terms approved by the Attorney General, to the effect that any insurance thereunder on any law enforcement officer shall cease thirty-one days after: (1) his separation or release from full-time duty as such an officer; or (2) discontinuance of his pay as such an officer, whichever is earlier.

Provides that each policy purcased by the Attorney General under this Act shall contain a provision for the conversion of such insurance effective the day following the date such insurance would cease. Specifies that during the period such insurance is in force the insured, upon request to the office, shall be furnished a list of life insurance companies participating in the progam established under this Act and upon written application (within such period) to the participating company selected by the insured and payment of the required premiums be granted insurance without a medical examination on a permanent plan written by such company which does not provide for the payment of any sum less than the face value.

Requires that during any period in which a law enforcement officer is insured under a policy of insurance purchased by the Attorney General under this Act, his employer shall withhold each month from his basic or other pay until separation or release from full-time duty as a law enforcement officer an amount determined by the Attorney General to be such officer's share of the cost of his group life insurance and accidental death and dismemberment insurance.

Sets forth the order of precedence in which the survivors of the officers will be awarded insurance benefits.

States that such policy issued under this title shall include a schedule of basic premium rates and provide for the readjustment of rates.

Authorizes a State or unit of local government having an existing program of group life insurance for law enforcement officers to apply for Federal assistance for such program under such rules and regulations as the Attorney General may establish. Authorizes to be appropriated such sums as may be necessary to carry out the provisions of this Act.

Establishes an Advisory Council on Law Enforcement Officers Group Life Insurance consisting of the Attorney General as Chairman, the Secretary of the Treasury, the Secretary of Health, Education, and Welfare, and the Director of the Office of Management and Budget. Provides that the Council shall meet once a year, or more often at the call of the Attorney General, and shall review the administration of this Act and advise the Attorney General on matters of policy relating to activities thereunder.