Continuation of Coverage after Retirement
Continuation of Coverage after Retirement
for
Calculated on
FEGLI Announces NEW 2016 Premiums. More Information
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Summary Report | |||||||
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Basic Insurance Amount at Retirement Age at Retirement = |
Amount after final reduction (you elected ) |
Extra Benefit | Total Basic Life Insurance including Extra Benefit | Monthly cost before Age 65: | Monthly cost at Age 65* and after: | ||
For Basic | For | Total | |||||
Basic Retirement | Basic Amount Reduced | Extra Benefit | BasicCost65 | MonthlyBasicBefore65 | MonthlyBasicAfter65 | MonthlyBasicBefore65+MonthlyBasicAfter65 | MonthlyBasicAfter65 |
The Extra Benefit reduces 10% of the original amount each year until at age 45 you will have no Extra Benefit. * The change in premiums is effective the first of the month following the month in which you reach age 65. After age 65, Basic life insurance is free for all retirees. The 50% and No Reduction premiums continue for life. |
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Option A - Standard | ||||||||||||||||
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Effective at the end of the month after the month in which you become age 65 or retire (if later), your Option A coverage will reduce by 2 percent of the pre-retirement amount per month until it reaches 25% of the pre-retirement amount ($2,500.00). Coverage is free after you turn age 65 or retire (if later). You cannot choose No Reduction for Option A. | ||||||||||||||||
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Show me how the cost of my Option A - Standard Insurance will change over time after retirement. |
Option B - Additional | ||||||
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Amount at Retirement (Number of Multiples = OptionB) |
Amount at age 65 | Amount after Final Reduction | Monthly Cost | |||
Number of Multiples | Number of Multiples | |||||
OptionBCoverage
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No Reduction
OptionBNoReduction |
Full Reduction
OptionBReduction |
No Reduction
OptionBNoReduction |
Full Reduction
OptionBReduction |
Cost at the age of retirement you selected
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Cost at Age: |
(OptionBNoReduction/OptionB)* OptionBCoverage
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(OptionBFullReduction/OptionB)* OptionBCoverage
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(OptionBNoReduction/OptionB)* OptionBCoverage
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$0.00
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CostFBI(m)
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Show me how the cost of my Option B - Additional Insurance will change over time after retirement. |
Option C - Family | |||||||
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Amount at Retirement (Number of Multiples = OptionC) |
Amount at age 65 | Amount after Final Reduction | Monthly Cost | ||||
Number of multiples | Number of multiples | ||||||
No Reduction
OptionCNoReduction |
Full Reduction
OptionC - OptionCNoReduction |
No Reduction
OptionCNoReduction |
Full Reduction
OptionC - OptionCNoReduction |
Cost at the
age of retirement you selected |
Cost at Age:
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Spouse: | FormatCurrency(OptionC * 5000) | FormatCurrency(OptionCNoReduction*5000) | FormatCurrency(OptionCFullReduction*5000) | FormatCurrency(OptionCNoReduction*5000) | $0.00 | FormatCurrency(CostFCI(m)) | |
Each eligible child: | FormatCurrency(OptionC * 2500) | FormatCurrency(OptionCNoReduction*2500) | FormatCurrency(OptionCFullReduction*2500) | FormatCurrency(OptionCNoReduction*2500) | $0.00 | ||
Show me how the cost of my Option C - Family Insurance will change over time after retirement. |
Change to the amount of your Basic Insurance over time | |||||||
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Monthly reductions thereafter = (Based on ). |
Change to the cost of your Option B - Additional Insurance over time (Number of Multiples = OptionB) | ||||||||||
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The cost of Option B - Additional insurance depends on your age, in five year age brackets and the number of multiples. As an annuitant, you pay the same rates for Option B as employees do until you reach age 65. When you have a birthday that moves you to another age group, the change in premiums will be effective at the beginning of the month following your birthday, and will be reflected in the annuity payment that you receive the following month. | ||||||||||
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Change to the cost of your Option C - Family Insurance over time | ||||||||||
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The cost of Option C - Family insurance depends on your age, in five year age brackets. As an annuitant, you pay the same rates for Option C as employees do until you reach age 65. When you have a birthday that moves you to another age group, the change in premiums will be effective at the beginning of the month following your birthday, and will be reflected in the annuity payment that you receive the following month. | ||||||||||
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