WHY FEGLI IS NOT YOUR BEST INSURANCE OPTION!
If you still have the federal employee group life insurance (FEGLI) then you most not be aware of changes in that program.
The cost will increase : when you retire or reach the age of 55 to 60 you will no longer be able to afford it. When you cancel your FEGLI you will not receive any of the premiums that you paid in over the years back. Thats why the Union has life plans in which your cost stays level ; and, you can also pick one of the cash value plans so you can receive money back should , in the future, you decide that you no longer need the coverage !
Here is an example of a female age 25 non tobacco making $ 40,000 a year . She will pay 14.00 biweekly for her FEGLI ; but , at age 60 depending on pay increases she will be asked to pay over $300.00 biweekly; over 600.00 a month ! T he Union has a plan where she can get the same 5 times her pay for the same 14.00 biweekly, and it is GUARANTEED to stay the same price until she is 90 years old . For a slightly higher premium, she can guarantee the price all the way out to age 120. $14 to FEGLI which goes up to $600 a month or $14 for the Union plan in which the premiums are guaranteed to stay the same until age 90...the same price the government is charging !
The Union has similar great deals on many other insurance offerings!
For no obligation information and an estimate contact Craig Schuff (817) 253-2696 from Benefit Architects!