As a new federal employee, you are automatically enrolled into the Federal Employees Group Life Insurance (FEGLI) program. You can, of course, specifically provide a waiver that lets you cancel your enrollment.
It doesn’t happen often, but in the rare instance that you get entangled into erroneous FEGLI coverage, it may be a good idea to know beforehand how to correct the error.
One of the aspects that many insureds who have made a FEGLI assignment neglect to find out is about what rights they retain after assignment, and what rights are transferred to the assignees.
When you join federal employment, you are automatically enrolled into the Federal Employees Group Life Insurance (FEGLI) program. So you don’t really have anything much to do as far as shopping around to buy life insurance is concerned.
You can continue your FEGLI into retirement. But what happens to FEGLI if you seek disability retirement at an earlier date and OPM approves it?
The VOLI has all the information you need, including the types of coverage you are enrolled for, the amount of coverage you had as a federal employee before reduction, your post-retirement reduction choices, and the exact amount of coverage you will have after the reductions are complete.
Federal Employees shop around for FEGLI savings or look for other similar life insurance products that give them the same protection and cover at a lower price.
It’s important to understand how the Federal Employees' Group Life Insurance (FEGLI) Program is designed to reduce the cover for retirees in a phased manner.
There are three reasons why you might need to use the FEGLI calculator.