Directs the military department to reimburse active duty national guard members the cost of life insurance premiums for insurance purchased through the federal service members' group life insurance program. Reimbursements shall be made for premiums up to four hundred thousand dollars in coverage and shall be made only when national guard members are on active duty. Under this provision, "active duty" means deployed outside the United States.

Provides that the act shall be null and void if appropriations are not approved.