In order to receive the death benefit from a FEGLI life insurance policy, the named FEGLI beneficiary or other individual must submit a FEGLI claim form.
In some cases, a Federal employee may want or need to either cancel or reduce the amount of life insurance coverage that they have through the FEGLI program.
Despite FEGLI's high costs, enrolling in FEGLI up until a certain age has some very nice benefits.
The Federal Employees' Group Life Insurance program (FEGLI) is available to most Federal government employees, including those who are part-time.
FEGLI (Federal Employee Group Life Insurance) Coverage As a federal employee, you are automatically covered by FEGLI (Federal Employees Group Life Insurance), unless you have waived the option. You cannot be covered by the optional FEGLI coverage plans if you have waived your basic FEGLI coverage. The government pays for one-third the cost of your basic …
FEGLI offers Basic and Optional coverage options for participants. You should be cautious, however, of the costs of FEGLI as you age.
Are you a federal employee or retiree and worried about the right insurance policy? Then you should compare FEGLI against alternatives to get the best price.
The average person could not answer the question ‘What is FEGLI?’ Even most federal employees don’t fully understand FEGLI, how it works and what the benefits and detractions of the program are. Most believe that FEGLI is a governmental organization that provides insurance to federal and postal employees – the truth is far from it. …
In a FEGLI open season, a person employed by the federal governments can enroll him/herself for FEGLI coverage.
One of the biggest considerations when choosing federal life insurance coverage is the overall cost of the policy.