Federal Employee Life Insurance
You or your family’s life can be changed in an instant. If you or a loved one passes away, your family will not only go through a period of grief, but they may be overwhelmed and burdened with the new financial challenges placed upon them. This is particularly important if the deceased was the breadwinner of the home. Luckily, by being prepared with life insurance, many financial concerns are diminished.
Benefits of FEGLI
Life insurance provides monetary benefits to cover many of the expenses that are associated with the deceased’s death. Some policies will also offer enough coverage to pay daily living expenses until everyone can get back on their feet and out of financial bondage. A few additional benefits of life insurance policies include:
● They are typically very flexible.
● There are many tax benefits.
● The premium is usually very small each month making it possible to receive coverage for all of your family members.
● It gives you peace of mind knowing that when a tragedy occurs, you can focus on the grieving process rather than your finances.
See coverage and rates in the charts below
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What is FEGLI Alternative?
FEGLI Alternative is a life insurance program for federal employees. It provides life insurance coverage for employees up to the age of 100. Unfortunately, most federal employees will lose their FEGLI coverage when they enter retirement, but FEGLI Alternative ensures that they always have the coverage no matter what stage of life they may be in. Plus, plans are available for the entire family including children. Coverage ranges from $25,000 to $100,000.
Keep in mind that your bi-weekly premiums will depend on your age, your coverage, and whether you are a tobacco user. Premiums can be paid on a bi-weekly basis.
For more information on the FEGLI Alternative and coverage options, contact Secure Choice today.