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OPM.gov / Frequently Asked Questions / Insure FAQ / Life
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Life

Questions and answers

If you are under age 65 when you retire, you will continue to pay premiums for your Basic and Optional insurance at least until you turn 65. Your retirement system will withhold the premiums from your annuity each month.

When you retire, you make reduction choices that determine whether your FEGLI life insurance (and premiums) reduce beginning at age 65 or when you retire, whichever is later:

  • Basic with 75% Reduction: your Basic coverage reduces 2% each month until it reaches 25% of its pre-reduction amount.  Your Basic is free (no premium) once the reductions begin and remains free until your death.
  • Basic with 50% Reduction: your Basic coverage reduces 1% each month until it reaches 50% of its pre-reduction amount.  There is an extra premium for this choice that you will continue to pay until you die, switch to 75% reduction, or cancel Basic.
  • Basic with No Reduction: your Basic coverage does not reduce.  You maintain the same amount of Basic coverage you had when you stopped being enrolled as an employee.  There is a larger extra premium for this choice that you will continue to pay until you die, switch to 75% Reduction, or cancel Basic.
  • Option A: your Option A automatically reduces 2% each month until it reaches $2,500.00 and remains free until your death.  There is no reduction choice for Option A.  Option A is free (no premium) once the reductions begin and remains free until you die.
  • Option B with Full Reduction: your Option B coverage reduces 2% each month until it reaches zero.  Your Option B coverage is free (no premium) once the reductions begin.
  • Option B with No Reduction: your Option B coverage does not reduce.  You maintain the same amount of Option B coverage you had when you stopped being enrolled as an employee.  There is an extra premium for this choice that you will continue to pay until you die, switch to Full Reduction, or cancel Option B.
  • Option C with Full Reduction: your Option C coverage reduces 2% each month until it reaches zero.  Your Option C coverage is free (no premium) once the reductions begin.
  • Option C with No Reduction: your Option C coverage does not reduce.  You maintain the same amount of Option C coverage you had when you stopped being enrolled as an employee.  There is an extra premium for this choice that you will continue to pay until you die, switch to Full Reduction, or cancel Option C.

Reductions begin the second month after you turn 65 or the second month after you retire, whichever is later.  If you do not submit a Continuation of Life Insurance (SF 2818) to your human resources office before you retire, your Basic will be defaulted to 75% Reduction, and your Option B and Option C will be defaulted to Full Reduction.

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