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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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Mike in VT  
#1 Posted : Thursday, January 14, 2021 3:51:29 AM(UTC)

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My wife is wanting to increase her FEGLI benefits; however, it mentions that can only be done during an open season. The catch...I can't find when open season is. It's not during the normal Nov/Dec. season like other insurances. On top of that, the information says they don't have one very often. How am I supposed to increase her FEGLI if an open season is unknown?

Thank you.
Tanker1497  
#2 Posted : Thursday, January 14, 2021 3:04:09 PM(UTC)

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FEGLI, only has open season's when the decide too. I only remember a few in 32 years working. If its a life changing event it becomes an open season. Birth, Death, Divorce, Marriage...
roger.d  
#3 Posted : Friday, January 15, 2021 2:32:11 PM(UTC)
roger.d

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In the 15 years I have been a Federal Employee, there has only been 1 open season for life insurance. That was around 13 years ago.

FEGLI becomes more expensive as you age. If you wife is healthy, see what is available on the open market for "term" life insurance. . There are several websites that are reputable that give you quotes for the major insurance companies.
Socialist governments traditionally do make a financial mess. They always run out of other people’s money. --Margaret Thatcher
thanks 1 user thanked roger.d for this useful post.
Mike in VT on 1/19/2021(UTC)
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