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Federal Employees Benefits Q &A

Do you have questions about your federal employee CSRS or FERS pension/annuity or federal employee retirement planning? Concerns about your Thrift Savings Plan (TSP) account or what about federal employee pay and leave issues?

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The Q&A forum is moderated by Ed Zurndorfer -- an expert on federal employee benefits -- and a Certified Financial Planner, chartered life underwriter and chartered financial consultant in Maryland.

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#1 Posted : Tuesday, November 10, 2020 7:37:10 AM(UTC)

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I was going to increase my life insurance this open season since we bought a house earlier in the year. I learned that, per the OPM site, Life Insurance has it's own separate open seasons, with no dates planned at this time. https://www.opm.gov/FAQs...9-4fb5-a356-d93311a482e1

My question is, they offer the option to increase out of open season with a medical evaluation paid for by the employee (out of pocket). Looking at the form, it looks fairly easy. With other life insurance options, they are known to draw blood and do lab work. Am i correct in understanding this request and health form (SF 2822) does NOT require lab work?

Hypothetical....if i do the SF 2822, physician says im good, no blood work required, do they have the ability to pull lab work from some general repository from Quest/Labcorp (if one even exists) and see that i have had lab work that shows a slightly elevated LDL cholesterol level? A year or so ago i inquired for a private policy and they gave me an increased premium for coverage ($400k/$190 mo.) for my age, mid 30s, which i did not accept.

Another hypothetical, if i do the SF 2822 and they either deny the request bc of the LDL or offer a higher premium for the coverage, and i decline coverage, when open season does come around, am i eligible to just increase coverage at that point or will the 2822/lab work still effect coverage or premium(s)?


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