FEGLI – Federal Employee Group Life Insurance
As a Federal employee you have the option of participating in the Federal Employee Group Life Insurance (FEGLI) program. Within the FEGLI program there is Basic insurance and Options A, B, and C.
Basic benefit coverage is based on your salary. It is your annual basic pay rounded up to the next $1,000 plus $2,000. The cost of Basic coverage does not increase as you get older, only as your salary becomes larger, and then at retirement. You must enroll in Basic coverage in order to participate in any of the other FEGLI options.
For those employees under age 45, FEGLI provides an extra Basic coverage amount. It doubles the amount of death benefit for employees under age 35. Once an employee reaches age 36, the benefit decreases 10% per year until there is no extra benefit remaining.
Option A coverage is an additional $10,000 in benefit. Option B is additional death benefit based on multiples of salary, up to 5. Option C is coverage on spouses and children up to age 22. The cosy for all three of these options increases every 5 years.
We have created this short video to assist you in your understanding of the many FEGLI choices while employed and in retirement.