This article was originally published June 11, 2018
Because keeping Federal Employee Group Life Insurance (FEGLI) coverage post-retirement can be an expensive choice, be sure to look into the various options available to retirees. Keeping all of the coverage, half the coverage, or dropping the insurance entirely are avenues worth exploring because maintaining a FEGLI policy could be wise dependent on one’s health and eligibility for a private plan. A surprising amount of federal retirees, however, overlook the available possibility of keeping 25% of FEGLI basic coverage at no cost in retirement. There are several nuanced technicalities to consider, but having some life insurance coverage without the obligation of paying any further premiums can be enticing.
–Until Next Time,
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