The requirements for continuing your FEGLI life insurance into retirement are explained in the FEGLI Handbook.
If you meet the requirements, you must choose what will happen to your Basic when you turn 65 or retire, whichever is later. Your choices are:
75% Reduction: your Basic coverage reduces 2% each month until it reaches 25% of its pre-reduction amount. Your Basic is free (no premium) once the reductions begin and remains free until your death.
50% Reduction: your Basic coverage reduces 1% each month until it reaches 50% of its pre-reduction amount. There is an extra premium for this choice that you will continue to pay until you die, switch to 75% reduction, or cancel Basic.
No Reduction: your Basic coverage does not reduce. You maintain the same amount of Basic coverage you had when you stopped being enrolled as an employee. There is a larger extra premium for this choice that you will continue to pay until you die, switch to 75% Reduction, or cancel Basic.
If you select 75% or 50%, the reduction begins the second month after your 65th birthday, or the second month after you retire, whichever is later.
To see the different premiums for the different choices, visit Premiums for Annuitants.
To make your choice, submit SF 2818 to your human resources office shortly before you retire. If you do not turn in the form, you will be defaulted to 75% Reduction.
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