Reg Jones Expert's View

If you are enrolled in the Federal Employees’ Group Life Insurance program Basic insurance, you can enroll in Option C. Unlike Basic and the other two forms of optional coverage, in which you as the enrollee are the insured person and a benefit on your death is paid to someone else, Option C – Family provides coverage on eligible family members – your spouse and unmarried dependent children under the age of 22 – and you are the beneficiary.

Note: While Option C doesn’t apply to domestic partnerships, civil unions or other family arrangements not formally recognized as marriage, it does include a common law marriage if recognized under state law.

As with Options A and B, the coverage is paid fully out of your own pocket.

If you enroll in Option C, you can elect up to five multiples of coverage, with each multiple equaling $5,000 for your spouse and $2,500 for each of your eligible children. The premium cost per multiple is a function of your age. Here are the premiums you’d pay for each multiple of that coverage while an employee.

Under age 35 $0.22
Age 35 through 39 $0.27
Age 40 through 44 $0.41
Age 45 through 49 $0.59
Age 50 through 54 $0.92
Age 55 through 59 $1.48
Age 60 through 64 $2.70
Age 65 through 69 $3.14
Age 70 through 74 $3.83
Age 75 through 79 $5.26
Age 80+ $7.20

At retirement, you have the option of retaining the coverage you had as an employee. If you do, you’ll continue to pay the premiums for each multiple of coverage.

Under age 35 $0.48
Age 35 through 39 $0.59
Age 40 through 44 $0.89
Age 45 through 49 $1.28
Age 50 through 54 $1.99
Age 55 through 59 $3.21
Age 60 through 64 $5.85
Age 65 through 69 $6.80
Age 70 through 79 $11.40
Age 80+ $15.60

With one exception, you will no longer have to pay any premiums for your coverage if you are retired and reach age 65. It will automatically decline at the rate of 2 percent per month for 50 months until it reaches zero. Here’s the exception. If you are an employee who is on the verge of retiring, you have the option of keeping up to the full amount of your coverage and continuing to pay the premiums.

Read more about FEGLI and FEGLI coverage changes at ask.FEDweek.com