What is Life Insurance? Life Insurance is an Insurance Policy in which you pay a small premium amount at a certain frequency and in return the insurance carrier agrees to pay a large sum to your beneficiaries in the event of your death. This tax-free lump sum will assist your beneficiaries in covering your final expenses, provide income protection, assist in estate planning and mortgage protection and will also assist in legacy purposes for your family and beneficiaries. There are Three Main Types of Life Insurance Policies which all offer unique strengths and benefits. 

The cost of your Federal Employee Group Life Insurance and the amount of coverage you receive from it are difficult to understand unless you know how it’s calculated.

Eligible new employees are automatically enrolled in FEGLI Basic unless they waive the coverage. You may have enrolled in FEGLI Option C for your family coverage. Like all the other options, you must have basic enrollment in order to be eligible for this plan.

FEGLI Option C is family coverage that allows you to insure your spouse and children through FEGLI.

Eligible new employees are automatically enrolled in FEGLI Basic unless they waive the coverage. You may have enrolled in FEGLI Option B for your coverage. Like all the other options, you must have basic enrollment in order to be eligible for this plan.

FEGLI Option B is essentially term insurance – with a guaranteed renewable five year term.

Eligible new employees are automatically enrolled in FEGLI Basic unless they waive the coverage. If you’re enrolled in Basic Coverage, you may have elected for Option A – also known as the Standard FEGLI option.

 FEGLI Option A is the cheapest life insurance option available to you. It’s an additional $10,000 in coverage, for which the cost increases every five years.

Every eligible federal employee is automatically enrolled into the Basic Federal Employee Group Life Insurance, unless you waived it when you were hired on or if you’ve canceled it since.