Life Insurance
Protect Your Family’s Financial Future
As a federal employee, you may have Federal Employees’ Group Life Insurance (FEGLI) through your job. But is it enough? FEGLI can become expensive over time, and it may not provide the coverage your family truly needs. Having the right life insurance plan ensures your loved ones are financially secure, no matter what happens.
Why Federal Employees Need Private Life Insurance
- More than 40% of Americans have no life insurance or don’t have enough coverage. (LIMRA, 2023)
- FEGLI costs increase every five years, making it one of the most expensive group life insurance plans in the long run. (OPM, 2024)
- 70% of households would struggle financially within months if the primary earner passed away. (LIMRA, 2023)
- The average federal employee pays significantly more for FEGLI than they would for a private life insurance policy. (OPM, 2024)
While FEGLI offers basic coverage, many federal employees find better, more affordable options through private life insurance.
How Life Insurance Works with FEGLI
- FEGLI is Not Always the Best Deal – FEGLI gets more expensive as you age, and costs skyrocket after age 50. Private policies lock in lower rates for life.
- FEGLI May Not Be Enough – Basic FEGLI coverage equals one year of salary, which may not be enough to cover your mortgage, debts, or children’s education.
- FEGLI Ends if You Leave Federal Service – If you retire or leave government employment, your FEGLI benefits are limited or lost, while a private policy stays with you.
- Private Life Insurance Saves You Money – Many federal employees replace FEGLI Option B with a private term or whole life policy and pay less for better coverage.
Frequently Asked Questions (FAQs)
What’s the difference between term and whole life insurance?
- Term Life Insurance: Covers you for a set period (10, 20, or 30 years), providing affordable, high coverage for your family.
- Whole Life Insurance: Provides lifelong coverage, builds cash value, and can be used for retirement planning or wealth transfer.
How much life insurance do I need?
A general rule is 7-10 times your salary to cover mortgage, debts, living expenses, and future needs for your family. We help federal employees find the right amount of coverage based on their specific situation.
How does private life insurance compare to FEGLI?
Private life insurance is often cheaper than FEGLI and provides locked-in rates that don’t increase as you age. Plus, it’s customizable and stays with you even if you leave federal service.
Can I get life insurance even if I have health conditions?
Yes! We work with top-rated insurance providers who offer flexible underwriting. Even if you have pre-existing conditions, we can help you find coverage that works for you.
Can I use whole life insurance for retirement planning?
Absolutely! Whole life insurance builds cash value, which grows tax-free and can be used for supplemental retirement income, emergencies, or legacy planning.
What happens if I leave my federal job?
Unlike FEGLI, our private life insurance policies stay with you, no matter where you work. You’ll have continuous protection for your family.
How do I get started?
It’s simple! Schedule a free consultation, and we’ll help you compare term and whole life options to find the best coverage for your needs.
Protect Your Loved Ones Today
You work hard to provide for your family—make sure they’re financially secure, no matter what. With affordable term life insurance and long-term whole life options, we help federal employees get the right coverage at the right price.
Ready to get started? Contact us today for a free quote!