Introduced in Senate (04/18/2002)
Robert Carey Service Disabled Veterans' Insurance Act of 2002 - Requires service-disabled veterans, upon payment of premiums, to be granted life insurance by the United States. Requires such veterans, in order to be eligible for such insurance, to be: (1) discharged or released from active military service under other than dishonorable conditions; (2) disabled to a degree of ten percent or more; and (3) under age 65. Provides insurance amounts, with limits dependent upon the existence of other insurance purchased through the Department of Veterans Affairs. Terminates required premium payments at age 70. Bases premium rates on the Commissioners 1980 Standard Ordinary Basic Table of mortality, with a five percent annual interest rate. Requires: (1) lump-sum settlement payments; and (2) coordination with the current Service Disabled Veterans' Insurance Program (requiring such Program to also use the 1980 mortality table). Requires the Secretary of Veterans Affairs, periodically, to review the suitability of the 1980 mortality table and, if necessary, recommend an alternative table.