• Fully Underwritten(blood work, meeting with a nurse)
• Simplified Underwriting (just answering a few health questions)
• Guaranteed Issue (your covered, that's it)

FEGLI life insurance is term life insurance, (for a term of years, not permanent or cash value life insurance) most employees don't understand this. Your premiums will increase over 2,000% or 20 times over your employment years. Most Federal employees think their FEGLI life insurance is a permanent type of life insurance, coverage that will last them a lifetime. This is not the case, i.e. "for a term of years". Personnel does a good job on explaining most benefits BUT this is where they come up short in most cases. FEGLI life insurance is a true group life insurance policy. When you are hired, you can sign up for up to 5 times your salary in additional group life insurance coverage, this coverage is "guaranteed coverage" with no underwriting questions asked. Most employees don't understand how group insurance works, the best way to explain group insurance is to say "spread the risk". This is good for most group insurance benefits but group life insurance is different. Federal employees who are healthy are paying a higher rate on life insurance to compensate for the not-so-healthy employees. This is where the employee is own their own to understand how their FEGLI life insurance works. We have helped Federal employees for over a decade understand their FEGLI life insurance as well as all their benefits that will help them secure a good retirement and financial future.

THINGS TO BE CAREFULL OFF!

What we call "the used car salesman life insurance quote", what does that mean, if you have searched the Internet for life insurance or FEGLI life insurance replacement quotes, you will run into these types of life insurance quotes on some web sites. The company will ask you some questions about your height, weight, your health, smoker or not and then, BOOM, you get the "used car life insurance quote". The low ball quote that sounds to good too be true, most of the time it is. Their hook is to get you to fill out a life insurance application, go through underwriting process, meet with the nurse and give blood, give doctors records, then, most times, you get the bad news, you did not get the rate that you were quoted; you get a rate that can be many times higher than you were quoted. Then they try to convince you to take the more expensive life insurance policy, just think how easier it would have been if you find out before hand about the rates you may be paying. This is what we call the "used car salesman life insurance quote", please don't fall for this.

Also be careful of a web site or company that is only trying to sell you term life insurance. Term life insurance is great low cost coverage BUT what if you need life insurance coverage that will last your life time or into your retirement. What if you work longer than you think, need to grow your TSP more, your kids are in college longer than you thought, what if things "change", these are the what ifs in life. Remember term is only for a period of term years (10-20-30 years), one solution that may make since is a combination policy. This is when you apply for a small permanent policy with a term rider. Example: $100,000 of permanent life insurance, to age 121, then a term life insurance policy of $400,000 to age 65. With a policy like this, you will have coverage $500,000 while your family would need to replace your salary and then $100,000 for the rest of your life to cover expenses that you would not like to leave your loved ones to cover.

Types of Life Insurance

There are really only two types of life insurance; permanent and term. Group life insurance is a whole different area; we offer fully underwritten, simplified underwriting, and guaranteed issue. Fully underwritten insurance is a great help for federal employees that are in good health. They can apply for a fully underwritten policy and if in good health, replace their FEGLI life insurance and save money, the bad news, if you get rated because of health concerns, the insurance rating may follow you in the MIB, medical information bureau; this is like your credit report. Simplified underwriting works great for the person that may not be in the best of health and doesn't want to go through the hassle of blood work or meeting with an examiner. Guaranteed issue life insurance is best for the federal employee that is in bad health or knows that they can’t get any coverage the conventional way, it may be as easy as answering one question; are you working? If you can answer yes you may be covered.

Permanent life insurance has been called “cash value” life insurance. But to use this product effectively the agent, for the benefit of the client, the agent should strip the cash value out of the policy and make the policy last a life time, hence the name permanent life insurance as opposed to term life insurance which is sold for a certain amount of time. These life insurance policies have been sold wrong for many years, agents have sold the “cash value” as an investment but for the best benefit, permanent life insurance should be offered as life insurance for the rest of your life.

Insurance Products we offer:

• Term, whole life, universal life, index universal life
• Short term disability insurance, short term disability with an accident plan, accident only disability
• Cancer plans, group coverage
• Annuities, fixed and indexed

Fully underwritten: meeting with a nurse, giving blood & supplying doctors records.

Simplified underwriting: answering a few health questions on the application and not meeting with a nurse.

Guaranteed issue: if your health is questionable, answer only one question, "are you at work" (guaranteed issue).*

And all this is through payroll deduction.

Here is one example of a Federal employees FEGLI Life Insurance premium:

In this example:

Employee making $45,000 a year with five times their salary for life insurance and family coverage; this is how your premiums will increase.

Their premiums, and yours will increase over 2,000% or 20 times as you get older, regardless of salary increases.

We set ourselves apart from the competition by offering payroll deduction group life insurance. We also travel the country giving retirement benefits and seminars so that we can work with federal employees first hand and help them to better understand what is best for them when it comes to their life insurance needs and planning. We have also hosted a radio show for three years titled "Financial Planning for Life" where we took many phone calls on the air from federal employees about their insurance benefits. We are the experts in federal employee's group life insurance and financial planning. We look forward to working with you.

*certain restrictions apply.

Contact us today for more information by requesting a FREE Consultation with one of the best Insurance agents for federal employees!