Getting the Most of FEGLI (Federal Employee Group Life Insurance): The Ultimate Guide

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  • Опубликовано: 30 окт 2024

Комментарии • 41

  • @luckypenny4263
    @luckypenny4263 Год назад

    Great explanation

  • @deepimpression7277
    @deepimpression7277 Месяц назад

    Have had only basic for 25 years, immediate retirement this year in April due to stroke. Still fegli basic. 65th birthday this year also. I know coverage was reduced. And free now into retirement, but, can i borrow against it at the value it is now? Homeless with medical bills, but have pension with social security.

  • @JokaSwa99
    @JokaSwa99 4 месяца назад

    New usps hire. I’m 28, not married (yet), no kids (yet). I’m wondering what you would advise?

    • @PlanYourFederalBenefits
      @PlanYourFederalBenefits  4 месяца назад

      The need for life insurance decreases if you you don't have a close beneficiary.

  • @nightengale2123
    @nightengale2123 3 года назад +3

    FEGLI is expensive in retirement. Retiring in February after I turn 65, with no mortgage, no kids, a spouse who is all set, so taking 75% reduction which is no premiums after 65 and payout for me with my ending salary will be around $32k enough to cover funeral expenses.

  • @josephasfaw1954
    @josephasfaw1954 2 года назад

    Thank you.

  • @stellah1643
    @stellah1643 3 года назад +1

    I looked into other life ins. once i hit 40's. I went thru a person that worked with Fed. employees. Last year that policy (whole life) the company that had it, got in trouble and it's now not growing, reorganizing, something like that and 10 years later i get another for way more money! Very frustrating. When you look to get a different one go with a company that can be trusted! Buyer beware.

  • @melissascheller7458
    @melissascheller7458 2 года назад

    My understanding of life insurance is that the older you get the less you need. Kids are grown. If married and you both worked you both should have a retirement and SS. So no life insurance is a waste of money.

  • @studimeglio7110
    @studimeglio7110 3 года назад +2

    You need to do this for soon to retire people. I’m a little confused on it.

  • @benniebritt8057
    @benniebritt8057 2 года назад

    Thank you for sharing. Great content!

  • @Tkh21209
    @Tkh21209 2 года назад

    Is it sensible at 30 with eife and kkds to also get whole life insurance?

    • @PlanYourFederalBenefits
      @PlanYourFederalBenefits  2 года назад

      It depends on the situation but in many cases the problem can be solved with a good term policy

  • @gummo3q524
    @gummo3q524 3 года назад +1

    When you’re already in retirement and at age 65 when you say that your basic coverage is free does that mean that you no longer have to pay into the Fegli system but will still be covered?

    • @gummo3q524
      @gummo3q524 3 года назад

      But you will still be expected to pay for the coverage before age 65 correct?

    • @PlanYourFederalBenefits
      @PlanYourFederalBenefits  3 года назад +1

      As long as you picked the 75% reduction then the basic coverage will become free for you after 65 if you are already retired.

  • @dickinsonroxx
    @dickinsonroxx 2 года назад

    can u cancel ll life ins in retirement/ i tried and they are taking forever to cancel it thx

    • @PlanYourFederalBenefits
      @PlanYourFederalBenefits  2 года назад

      Yes, you can cancel

    • @dickinsonroxx
      @dickinsonroxx 2 года назад

      @@PlanYourFederalBenefits thx idid cancel in writing it takes like 5 months to go thru but itis retroactive thx

  • @b.williams3095
    @b.williams3095 2 года назад

    You mentioned dependent children under FEGLI option C. Is there an age limit?

  • @MattThatMatters
    @MattThatMatters 2 года назад

    I like your content. But please add chapters

  • @danjuhas3094
    @danjuhas3094 3 года назад

    dallen-- can not TELL you how ignorant i am. im USPS. signed on to (i think?) basic (25 years ago) because i thought one "was supposed to" do so. fast forward: im thinking "keep it so that whoever has to bury me wont be stuck with expenses". otherwise, MEH. im single, no kids. my neice will prob get stuck planting me.

    • @PlanYourFederalBenefits
      @PlanYourFederalBenefits  3 года назад

      Also, the Basic is generally free for USPS employees so that also plays a role.

  • @scotta5838
    @scotta5838 2 года назад

    Dallen - always great info! Question as I look at this for my family. If I had 30 years of service but was not my minimal retirement age (57) when I pass away. Would my wife qualify for a pension? If so, is it the full spousal benefit? Is it right away or would she have to wait until I would have been my minimal retirement age? Thanks again for you insights and passing of wisdom as we navigate these waters…

    • @PlanYourFederalBenefits
      @PlanYourFederalBenefits  2 года назад

      Yes, as long as she is the beneficiary for your pension then she would get a pension if you passed.

  • @markmurrell1894
    @markmurrell1894 3 года назад +6

    The only thing that's permanent about life insurance is the salesman's permanent need for a commission. Save up money throughout your life so that when you're older you become self insured. It works!

  • @danieljustdaniel9550
    @danieljustdaniel9550 3 года назад +4

    Have FEGLI plus a outside policy, the outside one expires next year after 20 years and now that I had prostate cancer the year i retired they can't insure me till at lease 5 years after i've been cancer free. So i will continue with Fegli for a while.

  • @kingnole7540
    @kingnole7540 3 года назад +1

    Dallen my man! How can you forget to mention the periodic FEGLI open seasons?? Last one was 2016, and 2004 before that...

  • @tgallegos5729
    @tgallegos5729 3 года назад

    FEGLI is a horrible policy. Get rid of it before you turn 30 or at the earliest opportunity and do yourself a favor.