I am aware of the FEGLI cost structure, both as an employee and as a retiree.
As a federal employee, you have the option of getting life insurance through the Federal Employees Group Life Insurance (FEGLI) program. FEGLI is group term insurance that has a basic benefit and three add-on options. It can be a great tool, but costs may spiral out of control as you get older. The basic benefit cost doesn’t increase as you age, but the options’ costs increase every five years – and dramatically so.
Don’t delay evaluating your situation and weighing your options. Pull out your pay stubs and receipts and see what you’re paying for life insurance and FEGLI benefits. Do you know all of your current and future options? Do you understand the costs and benefits of your plan? If not, it’s time to study up and consult a professional. Learn more below.