FEDS - should I drop FEGLI insurance?

[Anonymous]

Yikes. I didn't realize it was so bad comparatively. Don't know that I have time to shop around nd find a better deal during open season in the next week though.

[Anonymous]

You can drop fegli at any time. It is only adding it that is limited to life events.

[Anonymous]

If the basic insurance for FEGLI is costing you a fortune, it will probably be free soon (at 65) so I wouldn’t drop it. If you have any of the other coverages I would drop those.

[Anonymous]

I dropped it when I was young- last open season for FEGLI (very rare), I added basic back because you can take it into retirement. I learned that it was good at a retirement seminar

[Anonymous]

Appreciate this thread as well, especially as it will be free once I have FEGLI. I am 44, and pay roughly $44 a month for a $1 mil policy. But the premium will double when I turn 45..

Definitely need to shop around to see if it is worth keeping, especially as it becomes free when you turn 65.

I don't fully understand the retirement impacts and will need to explore this. As it looks like in order to retain the policy after retirement, I need to retire on an immediate annuity?

[Anonymous]

I’ve heard it is not worth it once you turn 40.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I found a much better deal with WAEPA

WAEPA is also a terrible deal as it's not level term. You'll always do better 8n the private market 7nless you are massively unhealthy or like to jump out of planes.

I don't need level term. I've been reducing the amount of coverage every few years since my needs are less.