Reply to FEGLI is kind of a ripoff, right?

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Reply to "FEGLI is kind of a ripoff, right?"

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]I’ve been a fed for over 15 years and am about to turn 55, which means my FEGLI premiums are about to increase by about 25%. The problem is, I’m reasonably healthy (I don’t smoke, run half marathons, good vitals) and, with FEGLI, I’m probably subsidizing the less healthy feds. I’ve checked out some other options online and it looks like I can do much better. I’m plann8ng to be with the government for another 12-15 years. Is there any good reason to stick with FEGLI?[/quote]

I'm curious to hear if you get a good rate on the open market at 55 yo, even if you are in good shape. And also, do you need life insurance anymore?

DH and I got 30 year life insurance at the age of 30. The idea is that by 60, the kids are grown and out of college, we have reasonable savings, and we will no longer want to pay for the (greatly increased) premiums anymore.[/quote]

OP here: I have two kids, a sophmore in HS and a 5th grader (got a late start on the parenting thing). According to some on-line resources, a $750K policy with a 15 year term would be $135/mo. [/quote]

So you need life insurance for another 15 years?  Don't you have a term policy already, the FEGLI limits are pretty modest for this area.[/quote]

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