First published on CompareFEGLI.com
When to Use the FEGLI Calculator
You won’t often be called upon to calculate your coverage amount and premium for your Federal Employees’ Group Life Insurance (FEGLI) life insurance.
There are three reasons why you might need to use the FEGLI calculator. The first time will be when you are hired as a federal employee, and then on the rare occasion that you get to modify your FEGLI coverage amounts and options.
For the record, this is only possible when there is a FEGLI Open Season, or when you are able to submit evidence of a qualifying life event (QLE) that makes you eligible to modified FEGLI coverage and options.
The third time you will need the FEGLI calculator is when you retire. FEGLI rates and coverage change quite a lot post-federal retirement, so you will need to know the changed premiums and reducing coverage amounts.
How to Use the FEGLI Calculator…….. Read More