FEGLI – Option A – Standard Insurance
FEGLI – Option A
FEGLI Option A – Standard Insurance has a face value of $10,000 when you retire. However, if you retired before October 30, 1989, your Option A insurance might have been slightly higher. If you have FEGLI Option A- Standard Insurance, it will begin to decline or decrease in value at the rate of 2 percent each month starting approximately 2 months after you reach age 65 or at retirement, whichever comes later.
As such the value of your FEGLI Option A-Standard Insurance will continue to decrease until it reaches 25 percent of the original face value or $2500. The $2500 amount or 25 percent of the original face value $10,000 under Option A will be the value of your insurance upon your death.
Unless you cancel your FEGLI Option A-Standard Insurance, premiums will be deducted from your annuity through the end of the month in which you reach age 65. If your birthday comes on February 2, and you are turning 65 years of age, then the premiums will be deducted until the end of February, after which they will cease.
Take your time in reviewing your options and what they entail for you in retirement as you build your arsenal of facts and options to retire well.
P. S. Always Remember to Share What You Know.
RELATED TOPICS – More Federal and Postal Insurance Information
Federal Employees Health Benefits (FEHB)
Federal Flexible Spending Account (FSAFEDS)
Federal Long Term Care Insurance Program (FLTCIP)
Federal Employees and Medicare
Federal Employee Dental and Vision Insurance Program (FEDVIP)
