Welcome Guest! To enable all features please Login or Register.

Notification

Icon
Error

Financial Discussion

It is always wise to have a secure financial foundation. Here is a place to ask questions, exchange ideas and share information on how to make the most of your money.


To read today's top news stories on federal employee related news visit FederalDaily.com.
Options
Go to last post Go to first unread
Mike in VT  
#1 Posted : Tuesday, January 12, 2021 4:28:53 AM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 3/26/2009(UTC)
Posts: 1,220

Thanks: 24 times
Was thanked: 84 time(s) in 79 post(s)
I've seen a few articles mentioning that FEGLI really isn't a good deal past a certain point (45 years old +). I read an article that there are a few options that more than double the benefit, for far lower premiums. Are there any recommended life insurance plans/companies from the folks here?
Raoul  
#2 Posted : Tuesday, January 12, 2021 4:57:42 AM(UTC)

Rank: Senior Member

Groups: Registered
Joined: 6/30/2009(UTC)
Posts: 438
Man
United States
Location: the moral high ground

Thanks: 5 times
Was thanked: 42 time(s) in 32 post(s)
Around age 45 I kept FEGLI Option A (the basic) and dropped all additional options.
I switched to WAEPA for additional coverage, there are many comparison charts.
However, WAEPA is term insurance cheap when you switch and expensive when you're old.

When I retired, the kids were gone, the mortgage was gone, the debt was gone.
Life insurance is not a retirement plan so, I dropped WAEPA.
I kept the FEGLI Option A into retirement.

I just turned 65 and my FEGLI life insurance is free.
It will reduce over the next three years to 25% of its face value.
Just enough to plant me.
Retired July 2011
thanks 1 user thanked for this useful post.
Mike in VT on 1/13/2021(UTC)
roger.d  
#3 Posted : Friday, January 15, 2021 5:21:43 PM(UTC)
roger.d

Rank: Senior Member

Groups: Registered
Joined: 8/25/2016(UTC)
Posts: 5,069
United States
Location: Midwest

Thanks: 136 times
Was thanked: 957 time(s) in 777 post(s)
There are a few term life insurance shopping sites on the internet.

Select Quote and Zander Insurance come to mind. You might want to put in bogus contact information when filling out their forms so you don't receive follow up phone calls.

These sites will give you quotes from top name brand insurance companies.
Rss Feed  Atom Feed
Users browsing this topic
Guest
Forum Jump  
You cannot post new topics in this forum.
You cannot reply to topics in this forum.
You cannot delete your posts in this forum.
You cannot edit your posts in this forum.
You cannot create polls in this forum.
You cannot vote in polls in this forum.


This page was generated in 0.178 seconds.