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What does Fegli Basic Life Insurance entail? Can someone explain what Fegli Basic Life Insurance is?
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Fegli Basic Life Insurance refers to the Federal Employees' Group Life Insurance program, which provides group term life insurance to eligible federal employees. The coverage includes a basic life insurance benefit, as well as options for additional coverage. The basic life insurance coverage under Fegli is based on the employee's annual rate of basic pay, rounded up to the next higher thousand, plus an extra $2,000. This coverage can be further enhanced with additional options such as Option A (Standard Optional Insurance), Option B (Additional Optional Insurance), and Option C (Family Optional Insurance). The premiums for these additional options are paid by the employee and are based on the employee's age and the amount of coverage selected. It's important for federal employees to understand the details of Fegli Basic Life Insurance and the available options to make informed decisions about their life insurance coverage.
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