For more than 60 years, employees of the Federal government have had the opportunity to participate in a group
life insurance plan. The Federal Employees Group Life Insurance program – which is also referred to simply as FEGLI – can provide eligible employees with a level of life insurance coverage that is right for them and their specific needs.
UNFORTUNATELY, THOUGH, THIS LIFE INSURANCE PROGRAM CAN OFTEN PROVIDE FEDERAL EMPLOYEES WITH A FALSE SENSE OF SECURITY – AND THERE ARE SEVERAL REASONS FOR THIS.
First, even though this coverage can offer your loved ones some amount of financial cushion in case of the unexpected, the actual dollar amount of FEGLI benefit can fall far short of what survivors actually need to cover debts, final expenses, and ongoing living costs going forward.
This is particularly true as FELGI coverage can essentially “evaporate” after a federal employee retires.
In addition, FEGLI can also be incredibly expensive from a premium cost perspective – especially when compared to individual life insurance coverage (which can also be a much more flexible form of protection).
With that in mind, if you’re a federal employee and you have anyone in your life who will be affected financially upon your passing, it can make a lot of sense to determine what your actual need for life insurance is, and where you may have some “gaps”.
In fact, in many cases, this can be crucial in ensuring that those you love and care about do not face significant financial hardship at an already difficult time in their lives.
IF YOU’RE NOT SURE WHETHER YOUR LOVED ONES WILL HAVE THE FINANCIAL PROTECTION THEY REQUIRE IF THE UNTHINKABLE WERE TO OCCUR, WE NEED TO TALK. AT BEDROCK INVESTMENT ADVISORS, WE ARE SPECIALISTS IN FEDERAL EMPLOYEES’ BENEFITS – SO WE CAN HELP YOU TO INTEGRATE WHAT YOU ALREADY HAVE WITH WHAT YOU REALLY NEED.
For more than 60 years, employees of the Federal government have had the opportunity to participate in a group life insurance plan. The Federal Employees Group Life Insurance program – which is also referred to simply as FEGLI – can provide eligible employees with a level of life insurance coverage that is right for them and their specific needs.
UNFORTUNATELY, THOUGH, THIS LIFE INSURANCE PROGRAM CAN OFTEN PROVIDE FEDERAL EMPLOYEES WITH A FALSE SENSE OF SECURITY – AND THERE ARE SEVERAL REASONS FOR THIS.
First, even though this coverage can offer your loved ones some amount of financial cushion in case of the unexpected, the actual dollar amount of FEGLI benefit can fall far short of what survivors actually need to cover debts, final expenses, and ongoing living costs going forward.
This is particularly true as FELGI coverage can essentially “evaporate” after a federal employee retires.
In addition, FEGLI can also be incredibly expensive from a premium cost perspective – especially when compared to individual life insurance coverage (which can also be a much more flexible form of protection).
With that in mind, if you’re a federal employee and you have anyone in your life who will be affected financially upon your passing, it can make a lot of sense to determine what your actual need for life insurance is, and where you may have some “gaps”.
In fact, in many cases, this can be crucial in ensuring that those you love and care about do not face significant financial hardship at an already difficult time in their lives.
IF YOU’RE NOT SURE WHETHER YOUR LOVED ONES WILL HAVE THE FINANCIAL PROTECTION THEY REQUIRE IF THE UNTHINKABLE WERE TO OCCUR, WE NEED TO TALK. AT BEDROCK INVESTMENT ADVISORS, WE ARE SPECIALISTS IN FEDERAL EMPLOYEES’ BENEFITS – SO WE CAN HELP YOU TO INTEGRATE WHAT YOU ALREADY HAVE WITH WHAT YOU REALLY NEED.