Life Insurance
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FEGLI FAQ's
Federal Employees' Group Life Insurance
(FEGLI)
The
Federal Employees' Group Life Insurance
(FEGLI) Program
is the
largest group life insurance program in the world, covering over 4
million Federal employees and retirees, as well as many of their
family members.
FEGLI
provides group term life insurance. As such, it does not
build up any cash value or paid-up value. It consists of Basic life
insurance coverage and
three options
. In most cases, if you are a new Federal
employee, you are automatically covered by Basic life insurance and
your payroll office deducts premiums from your paycheck unless you
waive the coverage. In addition to the Basic, there are
three forms of Optional
insurance
that you can
elect. You must have Basic insurance in order to elect any of the
options. Unlike Basic, enrollment in Optional insurance is not
automatic -- you must take action to elect the options.
The cost of Basic insurance is
shared between you and the Government. You pay 2/3 of the total
cost and the Government pays 1/3. Your age does not affect the cost
of Basic insurance. You pay the full cost of Optional insurance,
and the cost depends on your age.
The Office of Federal Employees'
Group Life Insurance (OFEGLI), which is a private entity that has a
contract with the Federal Government, processes and pays claims
under the
FEGLI
Program.
FEGLI is a great benefit- to
findout more visit the
FEGLI Web site
or use the following links:
To find out how your divorce, new
marriage, birth of a child and other life altering events can
affect your benefits, visit our
Life Changing Events
page.
Questions or comments regarding Civilian Pay, please
contact your Customer Service Representative (CSR)
.
