Unlock Affordable Protection
Explore FEGLI Option B
Say Goodbye to Expensive Premiums: FEGLI Option B Provides Cost-Effective Solutions for Federal Employees
Welcome to FEGLI Option B: Your Path to Affordable Protection
Welcome to the world of FEGLI Option B, where affordable protection meets peace of mind. Designed specifically for federal employees, FEGLI Option B offers a unique blend of flexibility, reliability, and guaranteed coverage to safeguard your loved ones and secure your financial future.
At its core, FEGLI Option B functions as term insurance with a guaranteed renewable five-year term. This means you have the flexibility to adjust your coverage according to your evolving needs, ensuring that you’re always adequately protected. Plus, with coverage options ranging from 1 to 5 times your annual salary, rounded up to the nearest $1,000, you have the power to tailor your policy to suit your individual circumstances.
However, it’s essential to understand that while FEGLI Option B provides valuable benefits, it’s crucial to weigh your options carefully. As the comptroller General of the United States highlights, private sector insurance programs often offer greater coverage at lower costs compared to the FEGLI program. This insight may come as a surprise to many federal employees, especially considering the significant rate increases associated with FEGLI Option B, particularly after the age of 45.
That’s why more and more federal employees are exploring the possibilities offered by low-cost level term life insurance policies. These alternatives provide comparable coverage at a fraction of the cost, empowering you to protect your loved ones without breaking the bank.
Join us as we delve deeper into the world of FEGLI Option B, explore its benefits and limitations, and discover how you can make informed decisions to secure your financial future with confidence.
How Much Does FEGLI Option B Cost?
When it comes to protecting your loved ones and securing your financial future, finding the right insurance plan is paramount. That’s why it’s essential to compare your options carefully to ensure you’re getting the best value for your money.
The Federal Employees’ Group Life Insurance (FEGLI) program, including Option B, has long been a popular choice among federal employees. However, recent insights from the Comptroller General of the United States shed light on an important consideration: private sector insurance programs often offer greater coverage at lower costs compared to FEGLI.
While FEGLI Option B provides valuable benefits, including a guaranteed renewable five-year term and coverage multiples based on your annual salary, it’s essential to be aware of the potential drawbacks. One significant factor to consider is the cost, particularly the substantial rate increases that occur every five years, especially after the age of 45. For example, premiums for FEGLI Option B can increase by as much as 2254% from age 45 to age 75.
In contrast, private sector insurance programs typically offer more competitive rates and greater coverage options. By making the switch to a low-cost level term life insurance policy, many federal employees have been able to secure comparable coverage at a fraction of the cost, freeing up valuable resources for other financial priorities.
By conducting a thorough cost comparison between FEGLI Option B and private sector insurance programs, you can make an informed decision that aligns with your budget and coverage needs. At Gundy Insurance Group, we’re here to help you navigate your options and find the insurance solution that’s right for you.
Rates for FEGLI Option B
Understanding the rate structure of FEGLI Option B is essential for making informed decisions about your insurance coverage. Below, we’ve outlined the biweekly and monthly rates per $1,000 of coverage for each age group:
Rate Option
| Age Group | Biweekly Rate per $1,000 | Monthly Rate per $1,000 |
| Under 35 | $0.02 | $0.043 |
| 35–39 | $0.02 | $0.043 |
| 40–44 | $0.03 | $0.065 |
| 45–49 | $0.06 | $0.130 |
| 50–54 | $0.10 | $0.217 |
| 55–59 | $0.18 | $0.390 |
| 60–64 | $0.40 | $0.867 |
| 65–69 | $0.48 | $1.040 |
| 70–74 | $0.86 | $1.863 |
| 75–79 | $1.80 | $3.900 |
| 80 and over | $2.88 | $6.240 |
As you can see, the rates for FEGLI Option B increase with age, with significant jumps occurring at key milestones such as turning 45, 55, and 60. It’s important to note that while the rates may seem low initially, they can escalate rapidly, with premiums increasing by as much as 2254% from age 45 to age 75.
Understanding these rate increases is crucial for planning your insurance coverage and budgeting for future expenses. At Gundy Insurance Group , we’re here to help you navigate the complexities of insurance pricing and find a solution that meets your needs without breaking the bank.
Key Insights on FEGLI: Higher Premiums Explained
- Non-smokers in good to moderate health could be charged up to 70% more by FEGLI. Why is that?
- Females in good to moderate health might face premiums up to 70% higher with FEGLI. What causes this?
- Healthy individuals, regardless of being male or female, could see their FEGLI premiums increase by up to 70%. What’s the rationale behind this?
FEGLI – OPTION B.
A non-nicotine user can save significant premium dollars
| Age Group | Biweekly Rate per $1,000 | Premium Increase |
| Under 35 | $0.02 | 0% |
| 35–39 | $0.02 | 0% |
| 40–44 | $0.03 | 50% |
| 45–49 | $0.06 | 100% |
| 50–54 | $0.10 | 66.7% |
| 55–59 | $0.18 | 80% |
| 60–64 | $0.40 | 122.2% |
| 65–69 | $0.48 | 20% |
| 70–74 | $0.86 | 79.2% |
| 75–79 | $1.80 | 109.3% |
| 80 and over | $2.88 | 60% |
Here is the chart depicting the percentage increase in life insurance premiums by age group. Each bar illustrates the rise in premium rates compared to the previous age band, clearly showing significant increases especially as ages progress beyond 55. This visual helps in understanding the cost progression as one ages within the FEGLI Option B life insurance plan.
Percentage Increase in Life Insurance Premiums by Age Groups
Since FEGLI Option B does not have any underwriting requirements, healthy employees end up sharing the cost with the not so healthy employees.
Unlock Your FEGLI Benefits Analysis — No Obligation
Unlock the untapped potential of your Federal Employees’ Group Life Insurance (FEGLI) with our in-depth benefits analysis. Our dedicated team of experts will meticulously evaluate your current plan, leaving no stone unturned, and provide you with a thorough comparison against the latest offerings from highly acclaimed private market carriers. Armed with this comprehensive understanding, you’ll gain invaluable insights into how your coverage measures up, empowering you to make informed decisions about your insurance strategy. Don’t settle for uncertainty—take advantage of this opportunity to unlock the full spectrum of benefits available to you with our detailed analysis, all without any obligation on your part. Seize control of your insurance future today!
What We Offer
- Comprehensive FEGLI Review: We’ll break down your current FEGLI benefits and show you where you stand.
- Private Market Comparison: See how your FEGLI benefits stack up against comparable plans from top-rated private insurers.
- Expert Guidance: Our team will provide insights to help you make informed decisions about your life insurance needs.
Why Choose Us?
- Tailored Insights: Get personalized analysis that respects your unique circumstances.
- No Pressure: There’s absolutely no obligation to make any changes unless you choose to.
- Trusted Expertise: Benefit from our experience in helping federal employees maximize their life insurance benefits.
- Don’t miss out on the opportunity to optimize your life insurance. Complete the form below and get your free FEGLI Benefits Analysis! Be sure to include your current Part B coverage amount if you know it.
WHAT OUR CUSTOMERS SAY
The Testimonials
Discover why federal employees are raving about their decision to switch to private sector insurance. Read real testimonials from satisfied customers.
"After years of uncertainty with FEGLI Option B, I made the switch to private insurance through Gundy Insurance Group. The difference in cost and coverage was astounding. Now, I have peace of mind knowing that my loved ones are well-protected, and I'm saving money in the process."
Will Taylor
Designer
"I can't say enough good things about Gundy Insurance Group. From the moment I reached out for a quote to the day my policy went into effect, their team was there every step of the way. Their expertise and professionalism are unmatched, and I would highly recommend them to anyone in need of insurance."
Keith Palmer
STYLIST
"The team at Gundy Insurance Group went above and beyond to help me find the right insurance plan for my needs. They patiently answered all of my questions and made sure I understood my options. Thank you for your support and for making the insurance process so seamless. I highly recommend them to anyone!
Paul Lawrence
LAWYER
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