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.

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

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?

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

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.

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

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.