FEGLI: CELEBRATING A LIFE WELL-LIVED
As I thought of our discussion about FEGLI, LIFE insurance coverage for federal and postal employees, the word LIFE kept jumping out at me. Although many of us think of life insurance primarily as death insurance, it really is insurance about LIFE.
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As such our discussion of life insurance is one of the critical components of what is needed to retire well. We have laid out the types of coverage, Basic and Optional, provided through your Federal Employees Group Life Insurance along with the provisions and the ability to transport coverage into retirement.
There is always the question of how much life insurance is needed. Although the answer to that question is as varied as the diversity of our individual needs, the common thread is what you need life insurance to do for you and your family.
Of course, there is the obvious, and for each of us, there will be individual desires and personal goals to fulfill. Whatever our need for life insurance, it is important to understand what our coverage entails and what it means in retirement. One thing we must take note of is that no increase in coverage can be made in retirement.
If your planning hinges upon needing additional life insurance to secure your individual goals, make it a part of your pre-retirement check-up list. We will provide a suggested pre-retirement check-up list, things to do before you retire in an upcoming post, to assist you in the planning process.
It feels good when you know you are putting your plans in order to protect yourself and your loved one. You are on your way to setting the course to retire well.
P. S. Always Remember to Share What You Know.
