Tag: FEGLI

FEGLI

FEGLI or the Federal Employee Group Life Insurance is a group life insurance policy that covers most of the federal employees.

Federal Employee Health Benefits and FEGLI at Retirement – Robb Fenton

health benefits Robb Fenton

If you’re a federal employee who is considering retirement and you are covered by both the FEHB (Federal Employee Health Benefits) program for health insurance and the FEGLI (Federal Employee Group Life Insurance) plan for life insurance coverage, then you may need to factor in what your options are in terms of taking these benefits with you when you go. This is because, while there are ways of maintaining this protection, there are distinct criteria that you will need to meet in order to continue the coverage after you become a retiree.

How to Continue FEHB Coverage After Retirement

In order to be eligible for continuation of your FEHB coverage after retirement from service, there are two primary criteria that you must meet. First, you will need to have retired on an immediate annuity. This means that you will have to have a retirement annuity that starts accruing no later than one month following the date of your final separation from service.

In addition, you will also have to have been either continuously enrolled as an employee or as an eligible covered family member in any of the FEHB plans during the five years of service that immediately preceded your retirement. (It is important to note that it is not required that you be enrolled in the same plan for each of these five years).

If, however, you have less than five total years of service leading up to your retirement, then you will need to have been enrolled in a FEHB plan during all of your time of service since the first opportunity that you had to enroll.

Continuing Your FEGLI Benefits

fegli Robb Fenton

In order to keep your basic FEGLI coverage in retirement, you will also need to have five years of service. If so, you will have three options in how you may retain these benefits. These include the following:

  • 75% Reduction – With this option, a reduction in coverage will begin the second month following your 65th birthday, or the second month following your retirement, whichever occurs later. Then, the coverage will decrease by 2% every month until it reaches 25% of its original amount, where it will then level out.
  • 50% Reduction – With this option, you can retain 50% of your original amount of coverage. The reduction also starts during the second month after your 65th birthday, or the second month after retiring – whichever occurs later. With this option, the coverage will decrease by 1% every month until it gets to 50% of its original amount.
  • No Reduction – With the no reduction option, you may retain the full amount of your FEGLI benefit.

Options for Those Not Eligible to Keep Their Benefits

If you are not eligible to continue your FEHB or FEGLI benefits, then you may still have various options. For example, with the FEHB plan, you will have an extension of 31 days of coverage at no cost to you. Following that time, you can either drop the plan altogether, or convert it over to an individual contract. You may also request a Temporary Continuation of Coverage. This will allow you to continue the FEHB benefits for up to 18 months at a premium cost of 102%.

For the FEGLI plan, you will also have a no-cost 31-day coverage extension. However, after that time period has elapsed, you will only be able to either drop the coverage completely, or to convert some or all of the benefit over to an individual policy and likewise pay the premium out-of-pocket.

More from Robb Fenton

Robb Fenton
When Are FEDS Eligible for Retirement  by Robb Fenton 

Robb Fenton Author Page 

Robert H Fenton

FEGLI Open Season Begins for Federal Employees’ Benefit

The federal employees who have wanted to join FEGLI or increase their FEGLI coverage can now easily do so as the open season with regard to it has begun. This will not apply to people who have retired. The last open season occurred in 2004. Experts say it’s high time for employees to reassess their insurance.

FEGLIDetails on FEGLI Open Season for Federal Employees

The FEGLI or Federal employees’ Group Life Insurance’s open season has begun and it would continue throughout September. As a part of this phase, the federal employees can enroll themselves for this plan or they can change the coverage.

The FEGLI Data

As per the Office of Personnel Management, about 2.4 million feds have been benefiting from FEGLI. It includes employees of the semi-independent U.S. Postal Service. This number is 89 percent of those who are eligible for the plan.

About FEGLI

Some people might not be aware of what FEGLI is. It is a term type insurance that allows a person to have basic coverage equal to the salary of an employee rounded to next $1000 plus $2000. It has an option for $10,000 in additional coverage. Additionally, it has an option for up to five times the salary of an employee rounded to the next $1,000 and an optional coverage of about $12,500 for each dependent child who is less than 22 years of age and an optional coverage of $25,000 on the spouse of the employee.

The Costs

The premium an employee has to pay varies by age. The enrollees need to pay the full cost. The exceptions are agencies paying two-thirds of the cost of basic insurance or the USPS paying the full cost of that coverage for all its employees. It is pertinent to add here that some premium rates increased and decreased in January this year due to claim patterns.

The Last Open Season

The last open season was in 2004 which reiterates the fact that FEGLI open seasons are rarer when compared to the vision or dental insurance programs or the federal health insurance programs. Officials state that in the prior open season about 146,000 changes took place. These changes were related to increases in existing coverage and new enrollments

Expert Advice

The OPM’s Assistant Director for Health Care and Insurance, Alan Spielman believes that the federal employees should look hard at and reassess their insurance premium as soon as possible to make the most of FEGLI open season.

Higher FEGLI Rates in 2016 by Kevin Wirth

Kevin Wirth discusses the Higher FEGLI rates in 2016

If you’re enrolled in the FEGLI (Federal Employees’ Group Life Insurance) program, either as an employee or a retiree, you may have recently noticed that your premiums have increased. This is because the FEGLI plan has changed its premiums for those who are currently enrolled, effective as of the first pay period of 2016.

FEGLI

Although the rise in cost is considered to be “slight” for older enrollees (and in fact the cost for those who are in the younger age brackets has actually gone down), the increase in premium can nevertheless be difficult for some who have not had a pay raise lately, or who are living on a fixed income.

Yet, if you’re planning to cancel your FEGLI coverage due to the higher premium, you may want to consider all of your alternatives prior to moving forward, as well as the financial consequences of going without this important financial protection.

For example, most people carry life insurance so as to ensure that their loved ones will not have to endure some type of financial hardship upon their passing. With that in mind, ask yourself what type of debt you may be leaving behind, such as:

  • Unpaid mortgage balance
  • Personal loans
  • Auto loan(s)
  • Credit card debt
  • Any business loans or debt

You may also have additional financial needs to cover, such as a surviving spouse and / or dependent’s ongoing income – especially if retirement income sources will be reduced or eliminated upon your passing.

In addition, today, even the cost of basic final expenses can exceed $9,000 in many areas of the country now. This is especially the case when factoring in elements such as a burial plot, head stone, transportation, and obituary notices.

So, while the cost of your FEGLI premium may be rising, the cost of going without life insurance protection could be a great deal more. If this particular coverage is too cost prohibitive, though, there may be other options available in terms of an individual life insurance policy or a final expense life insurance plan.

More From Kevin Wirth:

Getting Started Early for a Successful Retirement by Kevin Wirth

Kevin-Wirth.com

Kevin Wirth Author Page

Federal Employees Eligible Retirement by Kevin Wirth

Getting Started Early for a Successful Retirement by Kevin Wirth

Kevin Wirth Explains How to Get Started Early for a Successful Retirement

Nearly everyone dreams about the day they can retire. Regardless of whether you plan to hike in the mountains, relax on the beach, or volunteer in a faraway place, one thing is for certain, and that is in order to have a successful retirement, a good plan should ideally be in place.

Unfortunately, though, not everyone has the opportunity to do an ample amount of long-term planning. That may be due to an unexpected health situation, an offer of early retirement, or some other event that has moved up the clock on your leaving the world of employment.

In any case, the good news is that you still have some options on your side for making the most of your finances, as well as your insurance benefits, for your retirement years. The best way that you can ensure success beforehand, then, is to start by taking a good inventory of what you’ve got.

Getting All of Your Retirement Ducks in a Row

As you plan for this next phase of your life, the most important aspects from a planning standpoint will include the following:

  • Insurance – Because health care can be a retiree’s biggest expense, you will want to make sure that you have good coverage here. If you won’t be eligible for Medicare yet, and if being added to a spouse or partner’s employer-sponsored health plan also isn’t an option, then there are ways that you can take your FEHB (Federal Employees’ Health Benefits) with you – provided that you meet certain criteria. You will also want to ensure that you don’t leave your loved ones vulnerable to financial hardship when it comes to life insurance. So, be sure that you check into either an individual plan of coverage, or consider taking your FEGLI (Federal Employees’ Group Life Insurance) coverage with you in retirement.
  • Financial – A good, solid financial plan is also an essential aspect of a successful retirement. This is because in order to live the lifestyle that you desire, you will need a way to replace your current income. Therefore, you should start by obtaining an approximation of how much you will be receiving from your retirement annuity when that time comes. If you’re covered by FERS, inquire as to how much income you’ll get from Social Security benefits, too. Because this income won’t likely be enough to completely replace your employer’s salary, you will also want to give yourself a boost by maxing your contributions while you still can to the TSP (Thrift Savings Plan). This will help you to obtain a larger amount of payout when the time comes to convert your savings into income down the road.

Once you have actually decided when the big day will be, you will want to get your retirement paperwork filled out in plenty of time. Typically, you should do so approximately two months prior to your actual date of retiring. This will help to ensure that all goes well – and just in case there are any glitches, you will have some time to get things straightened out and back on track.

More from the Author: Kevin Wirth

Kevin Wirth Author Page

Kevin D. Wirth and Associates – Federal Retirement Experts

Federal Employees Eligible Retirement by Kevin Wirth

Higher FEGLI Rates in 2016 by Kevin Wirth

FEGLI and the Living Benefit by Paul Kalra

Paul Kalra, FEGLI and the Living Benefit

Paul KalraPaul Kalra is a financial planner and federal retirement expert in Lake Forest, California.

Although most people purchase life insurance for the death benefit protection that it provides, many may not realize that there are other ways in which this financial tool can be used in taking care of additional needs while the insured is still alive.

Commonly referred to as “living benefits,” some life insurance policies today will allow an insured to access the death benefit funds if he or she meets certain criteria, such as being diagnosed with a terminal illness. Today’s FEGLI (Federal Employees’ Group Life Insurance) plans may allow a participant to access this type of feature.

Should the enrollee have a documented medical prognosis whereby he or she has a life expectancy of nine months or less, then they may elect to access a lump sum of cash from their FEGLI plan.

The amount of the lump sum that can be accessed is equal to the participant’s Basic life insurance amount, plus any amount of extra benefit for those who are under the age of 45, that is in effect nine months following the date that the Office of Federal Employee’s Group Life Insurance receives the completed living benefits claim form.1

It is important to note that when living benefits are accessed from a FEGLI policy – or from any life insurance policy – the amount that is taken from the policy will reduce the amount of funds that will be payable to the policy’s beneficiary at the time of the insured’s death.

In the case of living benefits on a FEGLI policy, an annuitant is not eligible to elect only a partial amount of benefit from the plan. Therefore, while an employee may opt to take just a portion of their insurance funds, if an annuitant elects living benefits, his or her survivors will not be eligible for any Basic insurance benefits at the time of the individual’s death.

More about Paul Kalra, CFP, ChFC, CLU:

Paul Kalra has been providing financial services for over 25 years to doctors, business owners and others nearing or in retirement. After a successful career with John Hancock Financial Services,in 2002, Mr. Kalra founded his own firm, Signature America Financial Planning Services, Inc. in Lake Forest, CA.

In his practice as a financial planner, Paul Kalra has found that when people are nearing their retirement years, they are faced with confounding decisions about their retirement plans, 401(k)’s, IRA’s, Social Security, Medicare, life insurance, wealth-preservation and estate planning. What motivated him to focus his practice on helping people in their 50’s and 60’s was when Mr. Kalra began facing such decisions himself and realized that the answers would have been very tough if he were not a financial planner.

Maintaining Your FEGLI Eligibility in Retirement by Robert Yeszerski

FEGLI information from Robert Yeszerski

Robert Yeszerski
Robert Yeszerski is a Retirement Benefits expert in Hawaii.

Robert Yeszerski believes that if you are a federal employee and you’re considering retirement soon, you may be thinking about the type of life insurance protection that you should retain so that your loved ones will not be left with financial hardship upon your passing.

One way to ensure that you will have a certain amount of life insurance protection is to retain your FEGLI (Federal Employees Group Life Insurance) coverage – even after your employment ends.

In order to be eligible to keep these FEGLI benefits, you must have been enrolled in the plan for at least five years prior to your retiring. If you have not been in service for at least five years, then you should have been enrolled in the plan at least from your earliest opportunity to have enrolled.

 

Keeping FEGLI Coverage in Retirement

Provided that you do meet all of the required criteria and you opt to maintain your FEGLI coverage in retirement, you will have three options regarding what will happen with your coverage when you either turn 65 or you retire – whichever event occurs later. Your options will include the following:

  • 75% Benefit Reduction – If you choose the 75% benefit reduction option, your basic FEGLI coverage will reduce by 2% each month until it reaches 25% of its initial amount. At that time, the coverage will remain level. There will then be no premiums due.
  • 50% Benefit Reduction – By choosing the 50% benefit reduction option, your coverage will be reduced by 1% each month, until it reaches 50% of its original amount. There is an additional premium that will be due for this option, unless you opt to change over to the 75% option or cancel your basic coverage.
  • No Benefit Reduction – With the no benefit reduction option, you are eligible to retain the full amount of your FEGLI coverage. This means that you will retain the same amount of basic coverage that you had when you ceased being enrolled as a covered employee in the plan. There is also a premium charged for this option, unless you switch over to the 75% reduction option or you cancel your basic coverage.

If you are not eligible to keep the FEGLI plan based on the five years of service requirement, but you would still like to retain your benefits, you may be able to convert your coverage into an individual plan. Otherwise, you will be required to drop the FEGLI coverage upon your retirement.

 

More about Robert Yeszerski

Robert Yeszerski Author Page

 

Making Wise FEGLI Assignment Decision In Today’s Market

Making wise FEGLI assignment decision in today’s market

fegliYou may allocate your Federal Employees Group Life Insurance or FEGLI to one or more persons, firms or trusts. Task implies that you consent to surrender responsibility for Basic, Standard Optional and Additional Optional life coverage scope until the end of time. The trustee turns into the recipient yet you must keep on paying any relevant premiums.

There are three primary things you need to consider before going ahead with the FEGLI protection. To comply with a Court Order–You may make a task of your gathering life coverage keeping in mind the end goal to consent to a court request for separation. Doling out extra security scope to a previous life partner gives a way to guarantee the court that life coverage advantages will be payable to a previous spouse or his or her assigned recipient. Otherwise under the extra security law, a FEGLI protected individual may change his or her assignment of recipient whenever.

For Inheritance Tax Purposes– usually if a task is made no less than three years before a singular’s demise, the FEGLI protection is viewed as a “gift” to the chosen one, instead of a piece of the domain of the safeguarded. Current government domain charge law permits a boundless conjugal finding for that divide of the gross home went to a surviving partner. Along these lines, there is no obvious prompt duty point of preference to doling out responsibility for life coverage arrangement to a companion. Notwithstanding, since state charge laws shift and duty ¬savings under government or state law can be extensive if FEGLI protection continues are not subject to domain charges, it is vital to counsel an able home expense consultant. A determination in respect to whether the extra security continues are incorporated into your gross bequest should at last be made by the IRS. In endeavoring to decide the expense impact of a task, you ought to refer to tax duty laws, case law and IRS regulations. Likewise, you ought to think about getting as a decision from the IRS.

To Obtain Accelerated Death Benefits–You can dole out your extra security to a viatical settlement firm on the off chance that you are in critical condition so as to get a bit of the estimation of your disaster protection before your passing. Consider first whether you could achieve the same objective by choosing a Living Benefit, be that as it may.

A couple focuses to note are – By doling out your extra security, you surrender the privilege to assign recipients and to lessen the measure of protection scope (regardless of the fact that the expense is more than you can manage). Family Optional disaster protection can’t be appointed, in light of the fact that, by law, no one but you can be the recipient. On the off chance that you relegate your life coverage to more than one individual, you must indicate the rate offers for every individual. You are not allowed to name unexpected appointees in the occasion the essential chosen one predeceases you. In the event that the trustee does not assign a recipient, the chosen one is the recipient and will be paid after your passing. This is basically how FEGLI works.

Viatical Settlements and FEGLI

FIRST PUBLISHED ON COMPAREFEGLI.COM

FEGLI and Viatical Settlements

viatical settlementsViatical Settlements, in case you didn’t know, are defined as the sale of a policy owner’s existing life insurance policy to a third party for more than its cash surrender value, but less than its net death benefit.  The buyer becomes the policy owner and pays the premiums, and gets the death benefits when you die.

Where FEGLI is concerned, there is no cash value, but that’s not stopping you from assigning it to one or more assignees, and one of these may be a viatical settlement company. READ MORE:

MORE FEGLI ARTICLES:

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI Death Benefits Claim Guide

FEGLI Death Benefits Claim Guide

death benefits FIRST PUBLISHED ON COMPAREFEGLI.COM If you die while still covered by your FEGLI life insurance, your designated beneficiary or beneficiaries need to file a claim for FEGLI death benefits. The following links contain useful resources to aid beneficiaries in how to pursue these benefits.   READ MORE:

 

MORE FEGLI RELATED ARTICLES:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

 

Death Benefits: Trustee Designation For FEGLI

FIRST PUBLISHED ON COMPAREFEGLI.COM

Trustee Designation For FEGLI Death Benefits

death benefitsDid you know that federal employees and retirees can establish a trust to receive your FEGLI death benefits? This can be done through an inter vivos (living) trust, or through a testamentary trust that is created through your will upon your death. Your survivors and beneficiaries can then purse the claims to receive the benefits they are due. The following links contain more resources for a survivor seeking to receive FEGLI death benefits. Be sure to remain informed and take advantage of every resource involving FEGLI and receiving death benefits.

 

These links will give you more information about FEGLI and survivor benefits. Stay informed! READ MORE:

 

OTHER FEGLI RELATED ARTICLES:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

FEGLI Accidental Death and Dismemberment Benefits

First published on CompareFEGLI.com

accidental deathFEGLI Accidental Death and Dismemberment (AD&D) Benefits

You or your beneficiaries can claim FEGLI accidental death and dismemberment (AD&D) benefits when you, as the insured, suffer from loss of life, limb or eyesight. The following  READ MORE:

OTHER FEGLI RELATED ARTICLES:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

 

Concurrent Employment: How Much FEGLI Coverage Do You Get?

First published on COMPAREFEGLI.COM

How Much FEGLI Coverage Do You Get With Concurrent Employment?

concurrent employmentConcurrent employment, in this reference, is where a federal employee is working for and earning federal wages from more than one agency. If you’re wondering when and how this is possible, there are certain situations which make it possible.

For example, you could be temporarily be reassigned to another agency, while still being expected to do some of the work you were already doing for your original employing agency. You could be in nonpay status for a position, and be asked to serve in another capacity for the interim.

In any case, the only eligibility requirement in cases of concurrent employment is that at least one of your positions should entitle you to be enrolled in FEGLI. So the next obvious question is about the coverage amount, and which agency will pay the government contribution towards your FEGLI premiums. READ MORE…

MORE FEGLI RELATED ARTICLES:

 

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

 

Impact of Breaks in Service on Your FEGLI Coverage

First published on CompareFEGLI.com

Impact of Breaks in Service on Your FEGLI Coverage

breaks in serviceIt’s not uncommon for federal employees to take breaks in service and then come back to work for their employing agency, reinstated into their prior position. Under such situations, what happens to your FEGLI coverage? READ MORE:

MORE FEGLI ARTICLES:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

 

Open Season: A Rare Time for FEGLI

FEGLI – A Rare Open Season

open seasonThere is a huge window of opportunity approaching, for the first time in 11 years the Office of Personnel Management (OPM) is permitting an open season for the Federal Employee’s Group Life Insurance (FEGLI) from September 1 to 30, 2016. In conjunction, the new 2016 premiums rates for FEGLI plans were also announced.

During the month-long open season, eligible federal employee can elect or increase their FEGLI life insurance through an online submission to their human resources office via the Employee Benefits Information System (EBIS).

“FEGLI open seasons are extremely rare, and the most recent open season was in 2004. This is great news” said Steve Beem, Human Resource Specialist assigned to the Fort Leonard Wood Civilian Personnel Advisory Center. Prior to 2004, there was an FEGLI open season in 1999.

The FEGLI program provides optional term life insurance for federal employees, with the option for the coverage to follow them into retirement. The basic form coverage is equal to the employee’s salary rounded up to the next $1,000 with an additional $2,000. Employees share the cost of being enrolled into the program. Employees pay two-thirds of the cost, with the exception of Postal Service employees, who relish in the Postal Service paying the full amount for its employees. Retirees are obligated to pay the entire cost.

Outside of the open season federal employees are only eligible to enroll or increase their FEGLI coverage in the instance of a life event, and retirees are not eligible to increase the coverage they carried over to retirement.

Underneath the newly adjusted 2016 premium rates, effective January 1, the following changes will be made to the FEGLI premium rates.

An employee with basic insurance coverage under the age of 65 is currently paying $2.27 per month, and will pay $2.46 next year; while a retiree over the age of 65 will pay an increased premium of $2.13 from its current $1.94. The premium increase for retirees is close to 10 percent.

Employees with the optional $10,000 add-on coverage will see a decrease in their premiums from 60 to 40 cents biweekly; with the exception of retirees, who will see no change to their current premium rate.

Also, employees who have elected for additional coverage in multiples of salary will experience a decrease in their premium rate, with the exception of enrollees 75 years of age and older.

Employees with family coverage up to the age of 35 will not experience a rate change. Employees ranging from ages 35 to 59 will enjoy a slight decrease in premium rates, while employees 60 to 69 maintain steady premium rates. Active employees 70 and older will pay a higher premium in 2016.

In the OPM notice, it was noted that “the legislative structure of the FEGLI Program assumes that we set premium rates for each age band independently of the other bands so that each age ban is financially self-supporting.”

However, federal employees need to be wary that the changes they make to their FEGLI benefits in September of 2016 will not become effective until the first full pay period of on or after October 1, 2017. OPM’s reason for the extensive delayed effective date is to minimize the risk that “less healthy individuals,” will use the rare occasion to increase their coverage.

The announcement of the uncommon open season and adjusted premium rates comes on the heels of the OPM announcing that premiums in the Federal Long Term Care Insurance Program had increased its premiums with no prior warning.

Historically, FEGLI open seasons are triggered by a change in the law or by trends in claims. “OPM has completed a study of funding and claims experience within the FEGLI Program. Based on this updated actuarial analysis of actual claims experience, OPM has determined that changes are required…These changes reflect updated mortality and claims rates from actual program experience with each FEGLI category,” stated a notice from the OPM Office.

According the OPM, a meager 7 percent of federal employees are enrolled in the long-term care program while an impressive 82 percent are enrolled in the FEGLI program.

FEGLI was established August 29, 1954 and quickly became the largest group life insurance program in the world; the program provides coverage to more than four million federal employees and retirees, to include many of the employee’s family members.

Normally, new employees are automatically enrolled into the basic term life insurance program with an automatic debit from the employees’ paycheck; unless the employee waives the coverage. For employees to receive the additional coverage options, they must take action to elect them; employees are not automatically enrolled as they are for the basic coverage.

The Office of Federal Employees’ Group Life Insurance is a private entity that has a contract with the federal government. The Office processes and pays claims beneath the FEGLI program.

OTHER FEGLI RELATED ARTICLES:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

Reemployed Annuitants and FEGLI

FIRST PUBLISHED ON COMPAREFEGLI.COM

FEGLI For Reemployed Annuitants

annuitantsSo you decided to hang up your federal employment boots and enjoy retirement benefits such as FEGLI for annuitants. But then you get lured back into the federal workforce, whether by want or need or the call of duty. Whatever the reason, one of the things you have to sort out here will be about your life insurance coverage. READ MORE:

MORE FEGLI ARTICLES:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

 

Pending Retirement Claims and FEGLI

FIrst published on COMPAREFEGLI.COM

FEGLI and Pending Retirement Claims

pending retirement

So you’re eligible for FEGLI and your life insurance coverage will continue when you are an annuitant after federal separation. But there’s a twilight zone in between the two, when your reettirement claim is pending. What happens to your coverage if you die in this twilight zone or if your insurance gets terminated? The following links discuss your pending retirement in further detail. READ MORE…

OTHER FEGLI ARTICLES:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

FEGLI Eligibility For Your Spouse

First published on CompareFEGLI.com

FEGLI Eligibility For Your Spouse

fegli eligibilityFederal employees are themselves automatically enrolled into the FEGLI life insurance program, but their family members are not. You can elect to include coverage and FEGLI eligibility for your spouse and children through FEGLI Option C. The following links contain more information about FEGLI eligibility for your further reading. Remember to stay informed and utilize every resource at your disposal.  READ MORE…

MORE FEGLI ARTICLES:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

 

Reconsidering FEGLI Life Insurance at Age 55

First published on COMPAREFEGLI.COM

Reconsidering FEGLI Life Insurance at Age 55

fegli life insuranceThe age of 55 is a critical milestone when it comes to federal retirement benefits and plans. If you have put in 30 years of service, this is the age when you become eligible to retire early and take full retirement benefits through the Federal Employees Retirement System (FERS) or Civil Service Retirement System (CSRS). Age 55 is also when you are able to start withdrawing your Thrift Savings Plan (TSP) fund investments without triggering the 10 percent penalty. You may believe this to be the case with FEGLI Life Insurance.

But when it comes to the Federal Employees Group Life Insurance (FEGLI) Program, it’s the reverse.  READ MORE…

OTHER FEGLI ARTICLES:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

 

FEGLI Eligibility For Children

First published on CompareFEGLI.com

FEGLI Eligibility For Children

FEGLI eligibility is not as simple as it may seem. Federal employees are themselves automatically enrolled into the FEGLI life insurance program, but their family members are not. You can elect to include coverage for your spouse and children through FEGLI Option C. The following links have more information regarding FEGLI eligibility. Be sure to use every resource at your disposal.  READ MORE…

MORE FEGLI ARTICLES TO READ:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide

 

FEGLI Eligibility: How to Request Reconsideration

First Published on CompareFEGLI.com

How to Request FEGLI Eligibility Reconsideration

Most federal and Postal Service employees are automatically enrolled into the Federal Employees Group Life Insurance (FEGLI) program when they are first hired. However, in the rare case that there is some confusion over your FEGLI eligibility for federal life insurance and you are not enrolled, it may be incumbent on you to request reconsideration. The following links contain more information about FEGLI eligibility. Be sure to use every resource at your disposal. READ MORE…

Other FEGLI Related Articles:

What is FEGLI Option A, Option B and Option C?

Evaluating your life insurance policy by Todd Carmack

Converting FEGLI to Individual Life Insurance After Separation From Federal Service

Who Gets Your FEGLI Life Insurance Benefits When You Die?

FEGLI – Federal Life Insurance Living Benefits Guide