FEGLI in Retirement

Federal Employee Group Life Insurance (FEGLI) is a benefit that retiring federal employees will need to make a decision on. This video goes through your options and how each of them work.

[@AxelQC]

So if you accept 75% reduction, you get premium-free life insurance which is about enough to pay for your funeral.

[@FederalRetirementPlanning]

yes, once you are age 65 or when you retire. Whichever is older

[@iggi70]

I’m on OPM Disability in my 50’s. Selected none and 4x FEGLI. I also have term LI 250k from USAA good until 68. Just covering bases just in case.

[@user-sb6qe4lz6k]

Great content

[@FederalRetirementPlanning]

Thank you!

[@lydialee5444]

My husband is now 65 , last year he change his life insurance to warpath. Would he still qualified for the 65 no premium in feeling? . He plan to retire next March. Thanks

[@WilliamPerez-od9jo]

Option B right now before retirement I have a multiple of 2. But now that I'm retiring on October 31st and I'm working on my retirement paperwork, what does the multiple do for me if I will be turning 65 on October 27 just before my retirement date and selecting Full Reduction at retirement and according to the chart it is free with a reduction of 2% until I turn 70 that the coverage of $425,000 turn to $0. Not sure what to select as number of No Reduction multiples. Please advise at your earlies convenience.

[@FederalRetirementPlanning]

if you select no reduction you will continue to pay for it. Full reduction means you won't pay premiums after 65 or retirement and it will be reduced by 2% a month

[@juanriollano484]

I medically retired OPM do I still have to pay my premium? I medically retired at 50. Thank you for what you do.

[@FederalRetirementPlanning]

i believe you still have to make payments until age 65 when your Basic and A premiums would cease

[@misskay2538]

I’m retiring in September and this FEGLI is confusing!!! So my HR folks said I’m eligible for $150K basic. I will elect 2x under option B. So does that mean my total coverage will be $300K? If I elect the 50% reduction, will my insurance coverage be reduced to $150K after age 65? I’m so confused and HR is not helpful.

[@FederalRetirementPlanning]

Basic and B r different. Basic would b 150k and B would b something like 296k. If u are in good health you should pursue a private policy in place of option B

[@FederalRetirementPlanning]

50% ONLY applies to Basic coverage

[@misskay2538]

@@FederalRetirementPlanning I have type 2 diabetes so I’m not sure if I would be able to get an outside policy

[@FederalRetirementPlanning]

@@misskay2538 it's possible. Option B will get costly as you age

[@salahglobal3026]

Thank you very much for the great information. Question: Do I need to list my ex-spouse on my FERS retirement application if we were married for less than 10 years (25 years ago)? Thank you!

[@FederalRetirementPlanning]

no, there is no requirement to do that. A divorce decree may make you do it but opm doesn't have a requirement for you to name a non spouse.