Life Insurance Options For Federal Employees
Basic coverage is calculated at current salary rounded upward to the next 1 000 plus an additional 2 000.
Life insurance options for federal employees - Fegli coverage consists of basic life insurance with three forms of optional insurance available. Fegli was created in 1954. The federal employees health benefits fehb program.
What benefits are available to federal employees heading into retirement. 10 01 am edt august 17 2020. The office of personnel management opm administers the program and sets the premiums.
The federal employees group life insurance fegli program is a life insurance program for federal and postal employees and annuitants authorized by law chapter 87 of title 5 united states code. Employees must be careful to select. The fegli regulations are in title 5 of the code of federal.
Federal employees group life insurance fegli provides group term life insurance. By tammy flanagan national institute of transition planning july 13 2017 in last week s column we took a look at the federal employees group life insurance program. Basic and three options a b and c.
The federal employees group life insurance fegli program is the largest group life insurance program in the world covering nearly four million active and retired federal employees. Federal employees retirees and their survivors enjoy the widest selection of health plans in the country. Life insurance options for civilian federal employees shane canfield ceo of waepa explains the importance of life insurance and waepa s ability to provide coverage for feds at lower rates.
Fegli is a form of group term life insurance. Most employees are eligible for fegli coverage. The term policies don t build cash or paid up value.
Federal employees group life insurance fegli coverage costs options. It is the largest group life insurance program in the world covering over 4 million federal employees and retirees as well as many of their family members. You can do so by using form sf 2818 continuation of life insurance as an annuitant or compensationer.
The federal government established the federal employees group life insurance fegli program on august 29 1954. The plan offers four levels of coverage. Learn more about fegli coverage and options option a standard.
Weighing your life insurance options. The amount of insurance formerly known as optional insurance is 10 000 at retirement. Life insurance options for civilian federal employees.
