For the first time in 12 years, the Federal Employees Group Life Insurance Program (FEGLI) is having an Open Season and it starts, Sept. 1.
The FEGLI Open Season allows eligible employees to enroll in FEGLI life insurance or increase their coverage up to the program maximum without having a qualifying life event, answering medical questions, or having a physical exam.
Here are some advantages of the FEGLI Program and this Open Season:
– Competitive group premiums with convenient payroll deduction
– You can elect coverage as little as about one years salary, as much as about six years salary, and many options in between
– You can elect Option C coverage on the lives of your spouse (up to $25,000) and eligible dependent children under age 22 (up to $12,500 for each eligible child)
– No medical questions to answer and no physical exam
– Extra Benefit automatically enhances Basic coverage for enrolled employees under age 45, at no additional charge
– You can continue your FEGLI coverage into retirement if you meet all of the requirements
There is a one year delayed effective date before your Open Season coverage becomes effective. Your new coverage will be effective the first day of the first full pay period that begins on or after October 1, 2017, as long as you meet pay and duty status requirements. For most biweekly employees, this means your new coverage will be effective October 1, 2017. You will not pay premiums for your new coverage until your new coverage is effective.
Thinking about retirement? For any FEGLI coverage you wish to bring into retirement, you must have that coverage for your last five years of Federal service, among other requirements. If you plan to retire before October 2022 (five years after the soonest your Open Season coverage could come into effect), consider this when making your Open Season election.
Employees may enroll between September 1-30, 2016 by logging into their Employee Benefits Information System (EBIS) account at https://www.ebis.army.mil/ or by speaking to an ABC-C Benefits Specialist at (877) 276-9287, (785) 240-2222 or DSN: 520-2222 between the hours of 6 am to 6 pm (Central Time).
Visit www.opm.gov/FEGLIopenseason for more information.
