FEGLI Recap
~~We are going to continue our discussion on making certain the provisions of FEGLI are clearly and completely understood. We discussed FEGLI Basic Insurance for those persons who retired before December 9, 1980, and before January 1, 1990.
Now let’s look at some other important time frames impacting Federal and Postal employees who retired after December 31, 1989 and going forward. Employees falling within this time category must all either elect the 75 percent reduction, the 50 percent reduction or No Reduction. Whatever your choice, if you retire before reaching age 65, you will be obligated to pay the same premium for your BASIC FEGLI as you did as an active employee until you reach age 65.
As in our previous posts, we are going to discuss each election separately starting with Option A – Standard FEGLI. Option A- Standard Insurance was previously referred to as Optional Insurance. Discussing the elections separately will hopefully allow you to analyze each provision and eliminate the confusion often encountered when one is saddled with reviewing too many things at once.
Let’s begin with Option A- Standard Insurance in the post to follow.
For information on FEGLI Option A
For information on FEGLI Option B
For information on FEGLI Option C
P. S. Always Remember to Share What You Know.
