A bill to amend title 38 of the United States Code in order to waive the payment of premiums for U.S. Government life insurance by certain persons who have attained age 70.

Provides that under such regulations as the Administrator of Veterans' Affairs may promulgate, payment of premiums on United State Government Life Insurance shall be waived during any time after which the insured has attained the age of 70 and has paid premiums on the insurance for not less than 25 years.