Understanding Your FEGLI Coverage, by Todd Carmack
July 13, 2014 / by Todd Carmack
The cost or ‘premium’ paid to maintain FEGLI almost doubles every 5 years. At age 65, you may elect to reduce coverage by 2% a month for 50 months until it reaches 0, or continue to pay premiums. by Todd Carmack
The Order of Precedence has no attachment to your Will. The Federal Government does not get involved in Wills and Probate. Instead, if there is no assignment of your insurance and no valid court order exists then the order is as follows ranging from first to sixth and in that order:
Assignment of Benefits – Employees can, as of a law passed in 1994, assign their Basic, Standard Optional and Additional Optional life insurance to an individual, individuals, a corporation or an irrevocable trust.
FEGLI Option C In previous articles we discussed Basic insurance and Options A and B and various FEGLI rates. Now let’s talk about the third option under the Federal Employees Group Life Insurance – Option C. Option…
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