One of the most critical issues that you need to be clear about when it comes to your Federal Employees Group Life Insurance (FEGLI) are your beneficiaries.
USPS Life Insurance for Postal Service employees is provided through the Federal Employees Group Life Insurance (FEGLI) Program. The USPS Life Insurance will pay 100 percent of the cost of your FEGLI Basic life insurance coverage, and you pay 100% of the cost of FEGLI optional insurance components, such as FEGLI Option B or Option …
FEGLI was authorized through the Federal Employee's Group Life Insurance Act (FEGLIA – S. 3681) passed by Congress and signed into law by President Eisenhower.
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.