Group Life Insurance
As part of its benefits program, the Board offers
term life insurance coverages, which provide financial protection
for you and your family. As a Board employee, you are eligible to
elect life insurance coverage in one or both of the following plans:
- Board Employees' Group Life Insurance (BEGLI)
- Federal Employees' Group Life Insurance (FEGLI)
This section contains a detailed
of the FEGLI Plan.
The Federal Government established the Federal Employees'
Group Life Insurance (FEGLI) Program on August 28, 1954. It is the
largest group life insurance program in the world, covering over
4 million Federal employees and retirees, as well as many of their
FEGLI provides group term life insurance. As such,
it does not build up any cash value or paid-up value. It consists
of Basic life insurance coverage and three options. In most cases,
if you are a new Federal employee, you are automatically covered
by Basic life insurance and your payroll office deducts premiums
from your paycheck unless you waive the coverage. In addition
to the Basic, there are three forms of Optional insurance that you
can elect. You must have Basic insurance in order to elect any of
the options. Unlike Basic, enrollment in Optional insurance is not
automatic you must take action to elect the options. See
Choosing the Right Amount Of Life Insurance
The cost of Basic insurance is shared between you
and the Government. You pay two-thirds of the total cost and the
Government pays one-third. Your age does not affect the cost of
Basic insurance. You pay the full cost of Optional insurance, and
the cost depends on your age.
FEGLI Calculator to
- Determine the face value of your FEGLI life
- Calculate how much you are paying for this
coverage, and see how choosing different Options can change the
amount of your life insurance and your premium withholdings
- See how the life insurance carried into retirement
will change over time.
here for a complete printable FEGLI guide.
The Office of Federal Employees' Group Life Insurance
(OFEGLI), which is a private entity that has a contract with the
federal government, processes and pays claims under the FEGLI Program.
Extensive additional information is available on
FEGLI Coverage website.