O/T - FEGLI Open Season September 2016
Posted: Wed Aug 17, 2016 7:23 pm
To anyone who is a Federal employee or whose spouse is one, this is the first FEGLI open season in 12 years and is a golden opportunity to get more life insurance if you need it. No physical, no medical questions, etc. Unfortunately, the insurance doesn't take effect until October 2017 (or at least that's the way I read it) but still....for someone who has had a cancer diagnosis....the idea that you can get any life insurance after a diagnosis is fantastic.
Spouses can only get up to $25K in insurance but still....better than nothing.
Just throwing this out there as a piece of info for anyone who might be able to benefit from this scenario. If anyone know the answer to this next question, please chime in. If we purchase some Option B (extra term insurance) for hubby....he can still keep that when he retires, correct? He's planning on retiring in 7 years and I'm not confident that there will be another open season before then so am contemplating purchasing a unit now....just to have. If he can't keep it after retirement, not sure it matters much now anyway.
Spouses can only get up to $25K in insurance but still....better than nothing.
Just throwing this out there as a piece of info for anyone who might be able to benefit from this scenario. If anyone know the answer to this next question, please chime in. If we purchase some Option B (extra term insurance) for hubby....he can still keep that when he retires, correct? He's planning on retiring in 7 years and I'm not confident that there will be another open season before then so am contemplating purchasing a unit now....just to have. If he can't keep it after retirement, not sure it matters much now anyway.