FEGLI Changes Rates for Various Insurance Categories

According to a notice published in the Federal Register on September 9, 2021, the Office of Personnel Management (OPM) is announcing changes in premium rates for certain Federal Employees' Group Life Insurance (FEGLI) categories. The rate changes will go into effect on the first pay period beginning on or after October 1, 2021.

This notice announces changes to FEGLI Employee Basic, Option A (most age bands), Option B (most age bands), Option C (most age bands), and Post-Retirement Basic Insurance.

The new FEGLI insurance rates Employee Basic Insurance have changed to $0.16 bi-weekly and $0.3467 monthly. The new premium rates for Option A are $0.20 bi-weekly and $0.43 monthly for those 35 to 39 years old. For the same age group, Option B rates have changed to $0.02 bi-weekly and $0.043 monthly.

Bi-weekly rates for Option C are $0.24 and the monthly rates are $0.52. For more information on the changes that have been made to each form of coverage, the full notice can be found here.

Feds can also access the FEGLI calculator, a comprehensive tool launched by OPM to determine the face value of various combinations of FEGLI coverage, calculate premiums for the various combinations of coverage, understand how life insurance is carried into retirement, and much more.