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Hello folks and welcome back to federal employee benefit advisors Facebook page previous segment we talked about option B federal employer life insurance FEGLI option B which is multiples of the salary and today we're going to get into the another part of federal put your life insurance another option and that is the basic also known as regular now if you're a postal employee you don't pay for basic unless you retire prior to age 65 if you retire prior to age 65 then you are going to pay for basic or regular if you choose to keep it and now keep in mind that basic life insurance is just like option B it's designed to go away it's not permanent life insurance now the reasons the reason that basic is going to what go away is because whenever you make an election when you retire you're going to elect a seventy five a fifty four a zero percent reduction in the death benefit all right now so you could lose 75 percent or you can lose 50 percent again FEGLI is designed to go away now if you choose the 0% option which in most case you're not going to want to do that it becomes unaffordable that's why we say it's designed to build away but you make that election whenever you completed your retirement paperwork if you decide to keep basically regular now for those non postal federal employees that you are going to pay for basic life insurance and it's a 15 cents per value so in calculating that we need to take the salary in this case we have an example of a federal employee making seventy five thousand four hundred and thirty-two dollars a year well the first thing we do is we round that up to the nearest thousand so that brings us to seventy-six thousand and then another two thousand dollars is added to that death benefit bringing the grand total to 78,000 that's the death benefit based on that salary now keep in mind unlike on TV that increases in cost every five years basic life insurance with FEGLI is only going to increase if your salary increases so if your salary increases then the cost is going to increase because if your salary increases the death benefit goes up according based on this formula so in calculating its cost we take 78 we have 78,000 it at 78 times 0.15 and that's 11 dollars and 70 cents per pay period okay and to calculate that out on a monthly basis which is the way I like to do it because I pledge you my personal expenses on a monthly basis as I'm sure most of you do that raise it 25 35 months so the COS bonus is 25 35 per month all right now there's a there's also in place here with the basic life insurance what's known as extra benefit very rarely if ever over 21.