The complexities of retirement planning and insurance coverage often present a challenge for federal employees. Among these complexities is Federal Employee Group Life Insurance (FEGLI) and the different types of policies that are available. This is an important benefit for federal employees so we want to help you understand all of your options and make the best choices for your financial future.

Federal Employee Group Life Insurance (FEGLI) policies are intricate, and they vary widely in terms of who needs them, who doesn't, and what alternatives are available. These policies offer a 75% reduction option, which allows you to keep your coverage for free if you retire past the age of 65. Moreover, the affordability of basic group life insurance as you near retirement is an essential aspect to consider.

In this discussion, we will decode the complex aspects of FEGLI policies, from basic coverage to Part A, B, and C. Understanding the ins and outs of these policies can be a challenge, but with the expert insights from Gregory Jameson from Federal Retirement Experts, you can confidently navigate these complexities.

Here’s some of what we discuss in this episode:

0:00 – Intro

1:42 – The basic coverage you automatically enrolled in

2:42 – Reduction options available in retirement

7:19 – Option A coverage

8:17 – Option B is a big step up in cost

13:31 – Every 5 years the premium increases for Option B

15:00 – Option C