FEGLI Counseling For Federal Employees
If you are a new federal employee, you probably need some help understanding all the federal employee benefits and perks that are now available to you. One of these benefits is the Federal Employees Group Life Insurance (FEGLI) program.
There are plenty of resources- for instance, the FEGLI Handbook, that can help you grasp the eligibility requirements, coverage amounts, options, rates and other aspects of this program. New employees can also pick up a lot of information during their orientation. Your employing offices will explain the life insurance program and provide a copy of the SF 2817 Life Insurance Election and the FE 76-21 FEGLI Booklet (FE 76-20 for Postal Service employees).
But the truth is that reading hundreds of pages of ‘official-speak’ can be just as confusing, especially to new federal employees. This is where the U.S. Office of Personnel Management (OPM) makes it easy for you by requiring federal agencies to make insurance information and counseling available to employees.
Federal Agency FEGLI Counseling Programs
In fact, OPM encourages agencies to develop custom counseling programs designed to meet the needs of their specific employees. If requested, OPM will additionally provide required technical assistance about life insurance benefits to agency headquarters Insurance Officers. Agency HR staff can additionally be sent to continuing education training conferences that are periodically hosted by OPM.
There are also insurance service providers who provide more in-depth and structured FEGLI counseling. This includes a needs analysis that looks at your current coverage and helps you find out exactly how much federal life insurance coverage you need, how much coverage you should seek for your spouse and children, etc.
The counseling will also provide with a comparison of alternative life insurance coverage and rates from other providers, taking into consideration how much you will be paying over the long-term during your entire federal employment through to retirement and beyond into your post-retirement life.
More Info about US Postal Insurance