Return to Pointer View home page September 24,  2004

FEGLI open season almost over

Story and photo by Kathy Eastwood 
Staff Writer

No one enjoys talking about it, but nearly everyone needs life insurance.  Average funeral costs are $6,000, according to the National Association of Funeral Directors, and smart planning now can help defray those costs for loved ones.

The Federal Employee Group Life Insurance program is amid a rare open season now through September 30 in celebration of the 50 years the program has been available to federal employees.

In 1954, Congress passed a law creating the FEGLI program to provide affordable life insurance to federal employees through salary deduction, according to the FEGLI web site www.fegli2004.opm.gov.

 “The last open season was in 1999 and no one knows when the next open season will be,” said Peggy Hoffman, a human resource assistant in the Civilian Personnel Advisory Center here.

“This rare event gives employees an opportunity to begin or change life insurance coverage without a medical exam or answering health questions.

 “Coverage and payments by payroll deduction will not take effect until September 2005 and people should keep that in mind when enrolling or adding coverage,” she added.

There are several life insurance choices for employees.  Basic insurance provides term life at group rates. Basic life  insurance amounts are determined by taking an employee’s yearly salary, rounding it to the next thousand and adding two thousand. The government pays one-third of the cost and includes an extra benefit to employees under the age of 45 at no extra cost, and accidental death and dismemberment coverage. 

“You must have the basic coverage to be eligible for the additional coverages of options A, B and C,” Hoffman explained.

Employees must make changes through the  Army Benefits Center at 1-877-276-9287 or https:www.abc.army.mil. No hard copies will be accepted. For more information, call 938-3943.