Basic FEGLI facts
Federal Employees Group Life Insurance (FEGLI) can be transported into retirement. As with your Federal Employee Health Benefis (FEHB) each employee must meet the five year or earliest opportunity to enroll requirement to continue coverage into retirement.
If you fail to meet the time requir
ement prior to retirement,
- Also Read: Top TSP Withdrawal Strategy: Compare Tax, Age, and Federal Retirement Rules
- Also Read: Roth TSP Financial Advisor Considerations and Withdrawal Options
- Also Read: TSP Loan Pitfalls: Weighing Borrowing Risks and Impact on Retirement Savings
The cost of your life insurance depends on a number of factors:Â your age, the amount of coverage selected, and health risk factors. If you decide to convert some or all of your policy, the good news is you will not be subject to a medical examination to qualify for conversion.
It should also be noted that there is generally no open season for FEGLI. However, in the rare instance where there is an open season, it is generally not open to retirees.
It should be further noted that accidental death and dismemberment coverage available to you as an active employee is not available to you in retirement as part of the government’s insurance program.
Know the facts about FEGLI as life insurance is a very important part of the planning process to RETIRE WELL.
P. S. Always Remember to Share What You Know.
Federal and Postal Retirement Planning
