Page 49 - The Informed Fed--Hearn (edited 10.29.20)

A list of prices per thousand dollars of insurance coverage (rates
effective as of January 1, 2019) is listed below. As you can see the cost
rises dramatically at age 50 and beyond.

Federal Employees’ Group Life Insurance (FEGLI) Program
Rates:

Option B Premium Biweekly Monthly
per $1,000 of
Insurance Age Band
Under 35 $0.02 $0.043
35–39 $0.03 $0.065
40-49 $0.08 $0.152
50-54 $0.13 $0.238
55-59 $0.23 $0.433
60-64 $0.52 $0.953
65-69 $0.62 $1.170
70-74 $1.14 $2.080
75-79 $1.80 $3.900
80 and over $2.40 $5.72

As you can see from the chart, rates increase as you age. They don’t
increase very quickly until age 50, and then things get very costly, very
fast. The reason they increase is because the employee did not have to
take a physical to get this additional coverage. The only thing the
insurance company knows about you is your age, so that is the basis they
use to increase coverage. As you get older, you are more likely to pass
away so they charge you more.
*Special Note: You want to look for life insurance in the private
sector, which could be more cost effective and offer more benefits.
Almost any insurance plan you find in the private sector will provide a
level death benefit and level premiums as well. For example, using rates

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