Losing FEGLI Coverage – What If It Happens? Sponsored by: Flavio, Joe Carreno

Flavio, joe carreno

As per Flavio, joe carreno ,Unfortunately, there are certain circumstances in which you may lose FEGLI coverage. Although leaving the government (not including retirement) is the most common reason, this also includes:

 

•    Terminated annuity

•    Moving across to a new role with no FEGLI coverage provision

•    When pay/annuity after deductions is too small

•    When in a non-pay status for one full year

 

According to Flavio, joe carreno, Of all these reasons, the most common two are when leaving the government and when moving to a role (even a federal job) where FEGLI coverage isn’t provided. Sometimes, it’s an intermittent or temporary position expected to end within a year.

 

What happens when coverage is lost? Along with a free 31-day extension, you’re also entitled to convert existing coverage to an individual policy. As long as you have this coverage under Basic, Option A, or Option B, there’s no need to show medical insurability evidence. Remember, you’ll pay for 100% of this new policy rather than just a portion as a group policyholder.

 

In terms of payments, they will depend on four main factors:

 

•    Policy type

•    Amount of insurance

•    Risk category (on the end date of group insurance)

•    Age

 

Flavio, joe carreno said Please note that you have 31 days to apply from the day coverage stops; from here, it can be written at an amount less than or equal to the coverage in the group policy.

 

In the future, you could return to a federal job where FEGLI coverage is provided. If this is the case, you may be entitled to re-enroll. For example, assuming you’re medically insurable, you can do this in an open season. Alternatively, a certain life event may have occurred, such as the birth of a child or marriage. Sadly, it’s incredibly difficult to get back in once retired.

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