Federal gov't retiree life insurance

[theoldnorthstate]

It is in $10K increments. You can buy multiple units (20K, 30K, etc) It is not based upon salary

But like golfduo, I already had insurance and saw no need to buy more given that it is just me, my kids are grown, etc. However, I did not realize that the $10K would be available free of charge after 65.

Then I am not a life insurance fan anyway so I probably wouldn't have hung on for that $10K anyway

[Bureaucratic]

FEGLI is an excellent benefit for those who have need of it. It's a complex program but in brief there are four parts.

Basic: the insurance amount is the annual salary rounded up to the next even $1000, plus $2000.
Option A: adds $10,000.
Option B: adds 1 to 5 multiples of the annual salary rounded up to the next even $1000.
Option C: adds coverage for spouse and children.

Full details are at opm.gov but federal employees and retirees will already have some familiarity with this.

[oldsoldier1976]

I am not a fan of Life Insurance either. I didn't put any on my daughter but did insure my wife and I. For me the only reason to insure is income replacement. Outside of that why have it at all. If I were single and didn't have anyone to protect with income then I would forgo it all together.

[RosalitaOjita]

I have been retired for 4 yrs now from Federal government and opted not to continue the FEGLI. It just didn't seem worth it with the reduction every year and the amount I had paid into it over 29 years. I opted for a life insurance policy with USAA and the cost is reasonable, will never increase and the payout will not decrease with age.