FEGLI Life Insurance Review [2024]
FEGLI life insurance provides death benefits for employees of the federal government. Life insurance through FEGLI is determined by the employee's salary and age and can even continue after retirement. You can move your FEGLI life insurance policy to a private policy if you wish.
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Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
UPDATED: Aug 11, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
UPDATED: Aug 11, 2024
It’s all about you. We want to help you make the right life insurance coverage choices.
Advertiser Disclosure: We strive to help you make confident life insurance decisions. Comparison shopping should be easy. We are not affiliated with any one life insurance company and cannot guarantee quotes from any single company.
Our life insurance industry partnerships don’t influence our content. Our opinions are our own. To compare quotes from many different life insurance companies please enter your ZIP code above to use the free quote tool. The more quotes you compare, the more chances to save.
On This Page
- FEGLI is a group term life insurance policy through the U.S. federal government.
- You can pick your beneficiaries under FEGLI like any other life insurance policy.
- FEGLI was established in the summer of 1954.
Anyone who works for the United States federal government will eventually see FEGLI life insurance deducted from their paychecks. FEGLI is a government-issued life insurance policy. The costs vary like any term life insurance quotes.
Unlike personal term life insurance, FEGLI tends to increase as your yearly income goes up. However, you can convert your FEGLI life insurance into a private life insurance policy.
To learn how to convert your FEGLI group term life insurance, read our guide. If you want to compare FEGLI life insurance rates to those of life insurance companies in your area, enter your ZIP code in the FREE online tool above.
What is FEGLI?
The Federal Employees’ Group Life Insurance (FEGLI) is a group life insurance program that gives federal employees term life insurance. Life insurance rates are deducted from checks every two weeks or whatever pay period that’s set up by the employee’s workplace.
FEGLI started on August 29, 1954. The program is still in effect and holds a FEGLI open season, which ends on December 15. FEGLI life insurance open season runs parallel to the Healthcare Marketplace.
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How does FEGLI differ from WAEPA?
The Worldwide Assurance for Employees of Public Agencies (WAEPA) is a nonprofit organization formed by federal employees in 1943. Under WAEPA, federal employees can receive cheaper and more reliable life insurance options.
WAEPA is known for issuing life insurance rates that are 89 percent lower than FEGLI. Like FEGLI, WAEPA is group term life insurance and provides life insurance for over 46,000 policyholders.
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Can you find out how much FEGLI life insurance you have?
There are several ways to find out how much FEGLI life insurance you have. However, it depends on your position.
How do I find out how much FEGLI I have as an annuitant?
- Log on to the U.S. Office of Personnel Management’s (OPM) Retirement Services Online. Review and print out a Verification of Life Insurance (VOLI) — a form that shows the amount of coverage and types of FEGLI insurance you have.
- Request a VOLI from OPM by emailing [email protected]. Be sure to include your retirement claim number (also known as CSA/CSF). You won’t be able to get FEGLI beneficiary records online.
You can call OPM toll free at 1-888-767-6738. To file a FEGLI life insurance claim, you can use the FEGLI life insurance phone number at 1-8006334542.
How can federal employees locate FEGLI benefits?
Talk to your human resources coordinator and ask about your FEGLI benefits. Human resources should have an Official Personnel Folder (OPF), which is information containing your FEGLI benefits.
Is there a FEGLI calculator?
OPM allows guests and federal employees to estimate the cost of FEGLI insurance using their automated calculation website. You’ll have to enter your name (optional), current salary, current age, payment schedule, insurance option, and whether you’re a United State Postal Employee.
Once you put in all the required information, you see the estimated FEGLI payment, FEGLI life insurance payout and FEGLI life insurance payout timeline. If you want to calculate FEGLI life insurance, check out the FEGLI life insurance payout calculator.
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What are the FEGLI conversion rates?
FEGLI conversion rates are life insurance rates calculated after you’ve ended your FEGLI policy. You can convert your FEGLI policy to a private life insurance company with no medical exam. However, be prepared to provide one just in case the life insurance company asks for it.
The best time to convert your FEGLI policy is when you’re leaving federal work, changing jobs that don’t have FEGLI, or if you retire without meeting specific coverage requirements.
FEGLI life insurance rates appear as more affordable than private life insurance, but the rates are close to the average costs of other life insurance companies. The average term life insurance cost is $14 to $19 per month.
How does FEGLI work?
You’ll pay about 15¢ for every $1,000 of coverage in a bi-weekly paycheck and 32¢ per month for every $1,000 of coverage. FEGLI life insurance increases every five years.
However, when you convert, your rates are not determined by paycheck, it’s determined by age and health. Therefore, you’re likely to receive a flat rate per month, but it’ll increase at a higher rate under private life insurance.
If you’re going to convert to a whole life insurance policy, check out the top whole life insurance companies.
Top 20 Whole Life Insurance Companies by Market Share
| Companies | Direct Written Premiums | Market Share |
|---|---|---|
| Northwestern Mutual | $10,517,115,452 | 6.42% |
| Metropolitan Group | $9,821,445,953 | 6.00% |
| New York Life | $9,925,848,300 | 5.68% |
| Prudential | $9,128,805,060 | 5.57% |
| Lincoln National | $8,769,303,774 | 5.36% |
| MassMutual | $6,854,713,057 | 4.19% |
| Aegon | $4,809,856,650 | 2.94% |
| John Hancock | $4,640,905,017 | 2.83% |
| State Farm | $4,633,004,963 | 2.83% |
| Minnesota Mutual Group | $4,422,100,028 | 2.70% |
| Guardian Life | $4,033,541,401 | 2.46% |
| Pacific Life | $3,755,606,213 | 2.29% |
| Nationwide | $3,364,808,181 | 2.05% |
| AIG | $3,336,397,453 | 2.04% |
| AXA Equitable | $3,051,945,849 | 1.86% |
| Voya Financial | $2,526,828,268 | 1.54% |
| Brighthouse Financial | $2,519,733,116 | 1.54% |
| Protective Life | $2,403,640,825 | 1.47% |
| Primerica | $2,375,786,190 | 1.45% |
| Sammons Enterprises | $2,321,529,722 | 1.42% |
These companies are considered the best because of their place in the United States life insurance industry. Their rates are competitive, so be sure to use our FREE comparison tool to compare life insurance rates.
What does the FEGLI continuation of life insurance mean?
When a federal employee retires or receives payments from FEGLI, they’ll have an option to continue using FEGLI as their life insurance provider.
They’ll need to fill out the OPM Continuation of Life Insurance Coverage form. Once they complete it, return the FEGLI life insurance form to the OPM as soon as possible.
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
What’s the bottom line?
FEGLI group term life insurance is one of the benefits for federal employees. As long as you work for the federal government, you’ll have FEGLI. If you want a permanent life insurance policy, you’ll need to find a private life insurance company.
You don’t have to keep FEGLI. Convert your FEGLI policy into a permanent life insurance policy with a life insurance company.
Ready to buy life insurance? Before you commit to converting your FEGLI life insurance, enter your ZIP code in the FREE comparison tool below to compare multiple companies in your local area.
Frequently Asked Questions
What is FEGLI?
FEGLI stands for Federal Employees’ Group Life Insurance. It is a group life insurance program that provides term life insurance coverage for federal employees.
How does FEGLI differ from WAEPA?
WAEPA, or Worldwide Assurance for Employees of Public Agencies, is a nonprofit organization that offers life insurance options for federal employees. WAEPA provides cheaper and more reliable life insurance rates compared to FEGLI.
How can I find out how much FEGLI life insurance I have?
To find out your FEGLI coverage, you can contact the Office of Personnel Management (OPM) at 1-888-767-6738 or use their online estimation tool.
What are the FEGLI conversion rates?
FEGLI conversion rates refer to the rates calculated when converting a FEGLI policy into a private life insurance policy. These rates are determined based on your age and health.
What does the FEGLI continuation of life insurance mean?
When a federal employee retires or leaves federal service, they have the option to continue their life insurance coverage under FEGLI by filling out the OPM Continuation of Life Insurance Coverage form and submitting it to the OPM.
Your life insurance quotes are always free.
Secured with SHA-256 Encryption
Brad Larson
Licensed Insurance Agent
Brad Larson has been in the insurance industry for over 16 years. He specializes in helping clients navigate the claims process, with a particular emphasis on coverage analysis. He received his bachelor’s degree from the University of Utah in Political Science. He also holds an Associate in Claims (AIC) and Associate in General Insurance (AINS) designations, as well as a Utah Property and Casual...
Licensed Insurance Agent
Editorial Guidelines: We are a free online resource for anyone interested in learning more about life insurance. Our goal is to be an objective, third-party resource for everything life insurance-related. We update our site regularly, and all content is reviewed by life insurance experts.
