Thursday, September 1, 2016

FEGLI Open Season Starts Today!

FEGLI provides group term life insurance for federal employees and retirees.

The Federal Employees’ Group Life Insurance Program (FEGLI) open enrollment period begins September 1.

FEGLI provides group term life insurance for federal employees and retirees, as well as many of their family members.

During the 30-day open season, eligible Postal Service employees can enroll in FEGLI or increase their coverage up to the program maximum without having a "qualifying life event," answering medical questions or having a physical exam.

FEGLI highlights:
  • The program offers competitive group premiums with convenient payroll deduction.
  • You can elect optional coverage from as little as about one year’s salary to about five years’ salary, in addition to your basic coverage.
  • You can elect option C coverage on the lives of your spouse (up to $25,000) and eligible dependent children younger than age 22 (up to $12,500 for each eligible child).
  • Extra benefits automatically enhance basic coverage for enrolled employees younger than age 45, at no additional charge.
  • You can continue your FEGLI coverage into retirement if you meet all requirements.
Enrolled employees can cancel coverage, reduce coverage or change beneficiaries at any time. Employees do not need to wait until FEGLI open season to make these changes.

Source: LINK

No comments: