Page 48 - The Informed Fed--Hearn (edited 10.29.20)
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Extra Benefit at the time of diagnosis. This coverage allows ill employees
               to receive their benefits while they are living. This valuable coverage can
               allow employees to spend their final days with family and spare their
               loved  ones  the  financial  concerns  that  often  accompany  a  terminal
               illness.  Unfortunately,  this  coverage  is  very  rarely used  because  most
               employees  are  unaware  of  this  option.  Please  make  your  loved  ones
               aware of this valuable coverage and if you have coworkers who could
               use this coverage, bring it to their attention.

               Optional Insurance

                   Options  A,  B  and  C  each  add  a  different  benefit  to  the  FEGLI
               package. Employees can choose to add these when they are hired. These
               benefits may be reduced or canceled at any time but can only be added
               or increased during an open season which OPM occasionally offers, or
               following a qualifying event such as marriage, divorce or birth of a child.
                   OPTION A:  This coverage is something you  elected to pay  for
               when you were hired. Option A is a very straightforward coverage under
               your FEGLI. It provides a $10,000 death benefit to beneficiaries in the
               event of the employee’s death. Like most FEGLI insurance, the price
               does increase every 5 years, but because the overage is so small, the cost
               is usually not an issue. Some employees refer to this coverage as a very
               affordable burial policy.
                   OPTION  B:  This  life  insurance  option  is  very  popular  among
               federal employees. This option allows employees to take anywhere from
               1 all the way up to 5 times their base pay in additional life insurance if
               they choose to pay for it. In most cases, this decision is made when the
               employee is hired. A simple example would be if Bob has a $50,000 base
               salary and he took 5x Option B he would have an additional $250,000 of
               life insurance coverage. The cost of this coverage is based upon your age.
               The government devised the plan and pricing.





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