Through the Federal Employees’ Group Life Insurance (FEGLI) Program, most federal employees are eligible for a Group Term Life insurance policy. However, life insurance purchased through the FEGLI program is owned by the employer and does not build paid up or cash value.
Federal Employees’ Group Life Insurance comes in four parts:
Basic Insurance – Employees
For that coverage, you’ll pay two-thirds of the bi-weekly premiums and the government will pay the rest. The U.S. Postal Service pays the entire cost of USPS employees’ Basic Life Insurance.
If you are under age 45, the Basic Insurance Amount of coverage is increased at no additional cost to you (Extra Benefit). If you are age 35 or younger, the coverage is doubled. However, beginning at age 36 the multiplier used to determine your additional coverage declines by 10 percent per year until it reaches zero at age 45.
Basic Insurance – Retirees
To carry your FEGLI Basic coverage into retirement, you must either have been enrolled in it for the five consecutive years immediately before you retire or from your first opportunity to enroll in the program.
Decisions Upon Retirement
Reduction in Coverage
Globe Life currently has more than $80 billion of insurance in force.
Helping individuals and families since 1951, Globe Life is committed to providing policyholders with a lifetime of superior service.
We are proud to provide Americans with an answer to their growing and ever-changing insurance needs.
Globe Life continues to receive one of the highest national industry ratings – [A+ (Superior)] Financial Strength Rating from A.M. Best Company (as of [7/18]).* With more than [4.2 million**] policies in force, our Company ratings speak for themselves.