Thursday, May 11, 2023
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
FEDERAL EMPLOYEES AGES 50+ ARE ELIGIBLE
WITHIN THE CONTINENTAL UNITED STATES
Click below to request your complimentary Federal Employee Benefits Analysis!
Get Retirement Ready!
Our personalized, complimentary pre-retirement analysis helps to explain your Federal benefits, how they work in retirement, and calculate your projected retirement income.
This comprehensive report will cover important areas of your retirement options including:
Federal Retirement Experts is a Jameson Financial Solutions company
Jameson Financial Solutions Cage: 88DU2
Serving Federal Employees Nationwide
We are an independent financial services firm helping individuals create retirement strategies using a variety of insurance products to custom-suit their needs and objectives. Federal Retirement Experts is a wholly-owned subsidiary of Jameson Financial Solutions Inc.
This material has been provided by a licensed insurance professional for informational and educational purposes only and is not endorsed or affiliated with the Social Security Administration or any government agency.
Any references to protection benefits or steady and reliable income streams on this website refer only to fixed insurance products. They do not refer, in any way, to securities or investment advisory products. Annuity guarantees are backed by the financial strength and claims-paying ability of the issuing insurance company. Annuities are insurance products that may be subject to fees, surrender charges and holding periods which vary by insurance company. Annuities are not FDIC insured.
The information and opinions contained in any of the material requested from this website are provided by third parties and have been obtained from sources believed to be reliable, but accuracy and completeness cannot be guaranteed. They are given for informational purposes only and are not a solicitation to buy or sell any of the products mentioned. The information is not intended to be used as the sole basis for financial decisions, nor should it be construed as advice designed to meet the particular needs of an individual’s situation.