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Fegli beneficiary Form: What You Should Know

You must fill in the form by the due date. Do not file form until the due date (See instructions) (Please see F.S. Title 32, Section 1006-6B). To review the information in this filing, visit the SF 2823 website for the latest version (last checked: 09/05/18). You must read the SF 2823 before filling out this form. Filling out the form will not affect your legal obligation to pay the premium at the time of death. If you wish to make any changes to your legal obligation to make payments at the time of death, you must file a new SF 2823 with changes that will affect your legal obligation.

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Video instructions and help with filling out and completing Fegli beneficiary

Instructions and Help about Fegli beneficiary

Well let's just jump right into life insurance not a fun subject everyone locks likes to talk about but something we must discuss in sound financial planning as you plan for a successful retirement first we need to talk about the basics of FEGLI you see on your screen here we have the basic benefit that is your annual pay rounded up to the next 1000 plus $2,000 so if your annual pay were seventy one thousand two eighty five your coverage would be seventy four thousand dollars now this basic benefit of FEGLI comes with some extra coverage if you're under age 45 it doubles the amount of insurance if you're under 35 and from thirty six to forty five the benefit decreases ten percent per year until you're at age forty five and just the basic benefit applies so that's FEGLI basic now on top of that we have several other options option a comes with additional ten thousand dollars worth of coverage if you choose it then option B has additional coverage one to five times your annual salary then option C has family insurance you can get increments of five thousand dollars for your spouse up to twenty five thousand dollars and increments of twenty five hundred dollars for each child a maximum amount per child of twelve thousand five hundred dollars now let's pull out your pay stub if you have one handy pull that out I want to show on screen a copy of one and if you will see under deductions and we've actually circled it in a red circle on the screen you'll see the word FEGLI and an amount under your current deductions this is what you're currently paying for FEGLI now you have to watch sometimes you'll have FEGLI mentioned...

FAQ - Fegli beneficiary

How do I check my FEGLI beneficiary?
To find out who you've designated as beneficiaries, go to your servicing personnel office and check your Official Personnel File (OPF). That way you can make sure that the designations of beneficiary you originally made are still the ones you want to receive the benefits in the event of your death.
Who can change the beneficiary on a life insurance policy?
The policy owner is the only person who can change the beneficiary designation in most cases. If you have an irrevocable beneficiary or live in a community property state you need approval to make policy changes. A power of attorney can give someone else the ability to change your beneficiaries.
How long does it take to receive FEGLI death benefits?
How Long Does It Take for FEGLI to Pay? Federal Employee Group Life Insurance (FEGLI) death benefits should be paid by the insurance company within 30 days from the date a beneficiary filed a notice of claim and submitted all necessary supporting documents.
What is the death benefit for FEGLI?
Option C - Family, insures an employee's eligible family members from one to five multiples of coverage, with each multiple equal to $5,000 upon the death of a spouse and $2,500 upon the death of an eligible child. Federal retirees may have FEGLI coverage if they met the requirements to carry FEGLI into retirement.
How much is FEGLI death benefit after retirement?
It provides your beneficiaries with a $10,000 death benefit in the event of your death.
What is the beneficiary form?
The beneficiary designation forms allow you to name primary and secondary beneficiaries. Your primary beneficiaries are the first people or entities that you want to receive your benefit after you die.
How long does it take to get a check from FEGLI?
How Long Does It Take for FEGLI to Pay? Federal Employee Group Life Insurance (FEGLI) death benefits should be paid by the insurance company within 30 days from the date a beneficiary filed a notice of claim and submitted all necessary supporting documents.
How do I claim FEGLI life insurance?
You can report an annuitant's death online or you can call OPM Retirement at 1-888-767-6738. If you believe the retiree was enrolled in FEGLI Life Insurance and that you are a beneficiary, you can download a claim form and mail it to OFEGLI, an office of MetLife.
Does FEGLI pay lump-sum?
You may elect to receive a lump-sum living benefit payment from FEGLI if you are terminally ill and have a documented medical prognosis that you are not expected to live more than nine months.
How much is the FEGLI death benefit?
Each multiple is equal to $5,000 for your spouse and $2,500 for each of your eligible dependent children. For example, if you elect three multiples and your spouse dies, you would receive $15,000 (3 X $5,000). If one of your eligible dependent children dies, you would receive $7,500 (3 X $2,500).
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