Group Life Insurance
Basic Life Insurance
Basic provides term life insurance at low group rates.
The federal government pays one-third of the cost of your Basic
life insurance. If you are eligible, you are automatically enrolled
in Basic unless you waive this coverage.
Your Basic Insurance Amount (BIA) is equal to the
greater of (a) your annual basic pay rounded up to the next $1,000
plus $2,000, or (b) $10,000.
FEGLI also offers an Extra Benefit to employees under
age 45, at no additional cost. This Extra Benefit doubles the amount
of life insurance payable if you are age 35 or younger. Beginning
on your 36th birthday, the Extra Benefit decreases 10% each year
until, at age 45, there is no Extra Benefit.