A bill to amend title 38, United States Code, to authorize the Administrator of Veterans' Affairs to waive payment of premiums on term life insurance during the continuance of certain disabilities beginning after the insured's sixty-fifth birthday.

Eliminates the: (1) requirement that a disability must have begun before the insured's sixty-fifth birthday for purposes of a total disability waiver of premiums under veterans' (National Service Life) five-year level premium insurance; and (2) provision prohibiting the waiver of any National Service Life Insurance premium becoming due prior to January 1, 1965, in any case in which the insured's total disability began between his sixtieth and sixty-fifth birthday.