Local Expert FEGLI Experts
Comparefegli.com becomes the first FEGLI option B search engine to offer consultation from local FEGLI experts.
CompareFEGLI.com, a web based FEGLI calculator and search engine, holds the distinction of being the first FEGLI Option B insurance comparing website to offer people the chance to connect with a network of local financial professionals for consultation on their FEGLI coverage.
“We feel that a computer can only guide a person to a certain extent, but often times, there are particular situations where one option may be better than another. This is where our local network of financial professionals comes into play” said a spokesperson for FEGLI.
By using professional help from people who excel in the finance field, CompareFEGLI.com hopes to provide users with the best insurance options and alternatives available to them.
“While FEGLI does provide a host of amenities such as federal employee retirement benefits, it can be incredibly expensive for people close or in retirement. Our network of financial professionals aims to inform the user of the best insurance plans according to their particular situation.”
FEGLI is a life insurance policy for federal employees which offer them various benefits. However, FEGLI has widely been criticized for the high premium associated with it, along with the non-fixed contractual terms and insurance fee.
At every 5 year bracket (starting at 35), FEGLI rates are subject to change, increasing in price nearly 400% from age 45 to age 60. Compared to a fixed 20 year insurance plan, FEGLI can cost several times higher, along with a high total accumulated cost over the time period.
Unfortunately, most users aren’t aware of the numerous options available to them, due to the slew of insurance terminologies and companies offering various long term plans.
While insurance policies may offer attractive perks such as a lower annual premium, they might be subject to an increasing rate after every few years, which the user may not be aware of. CompareFEGLI tries to educate users on the long term effects of these policies, along with the total accumulated costs and savings, thanks to the network of local financial professionals.
www.comparefegli.com is an online resource website for comparing various FEGLI rates in all 50 states. The service can compare up to 3 insurance policies with the default FEGLI for the user to decide which is best for them.