A bill to encourage persons to join and remain in the Reserves and National Guard by providing full-time coverage under Servicemen's Group Life Insurance for such members and certain members of the Retired Reserve up to age 60.

(LATEST SUMMARY)

Authorizes the Secretary of the Army or the Secretary of the Navy to allow a member of the National Guard who is not on active duty to make allotments from his military pay for the payment of premiums under a group life insurance program sponsored by the military department of the State in which such member holds his National Guard membership or by the National Guard association of such State if the State or association concerned has agreed in writing to reimburse the United States for all costs incurred by the United States in providing for such allotments. Declares that the amount of such costs and procedures for reimbursements for such costs received by the United States from the State or association concerned shall be credited to the appropriations or funds against which charges have been made for such costs.

Provides that the United States shall not be liable for any losses or damages suffered by any officer or employee of the United States in administering the allotment program authorized under this Act. Adds 37 U.S.C. 707