As benefit advisors, the most common life insurance question we’re asked is: "Why do I need life insurance?” The answer to this is simple, you don’t; you’ll be dead. Life insurance is about creating financial protection for your family. It is purchased so that your family is not left with debts they’re unprepared for. Mortgage payments, car payments, and daily expenses can add up fast and are always changing, so making sure you have proper financial protection in place is critical to both financial and estate planning.
How much life insurance do I need?
Everyone is different, just as their life insurance needs are. We all carry different levels of debt and assets, and this comes into play when deciding how much life insurance we need to purchase. By completing our complimentary Life Insurance Needs Analysis Questionnaire
we can help you better analyze your financial situation to find a life insurance value that suits your needs. Whether you’re checking up on your current life policy or looking to purchase a new policy, our needs analysis is a great resource at your disposal.
Is FEGLI Option "B” right for me?
Most federal employees can greatly improve their Federal Employees Group Life Insurance (FEGLI) Option "B” coverage, when compared to products available in the commercial marketplace. Through the FedAdvantage life program we can help you compare your current FEGLI Option "B" with the highest rated, most competitive insurance carriers in the industry today. In many cases, we are able to offer savings of 50%-80% off the FEGLI published government rates, and for employees over the age of 50, the savings can exceed $100,000 or more over twenty years.
How can private insurance save on premium?
Guaranteed Rates. Many private insurance companies underwrite policies based on your current health status, and more often than not, will offer you guaranteed rates for the life of your policy. Even though your employer contributes to the cost of your basic FEGLI, you are stuck paying 100% of the cost of your optional coverage. Additionally, the premium of the multipliers increase every 5 years. For many employees, the continued increases cause the insurance to become unaffordable later in their careers.
We got you covered!
FedAdvantage provides answers to your questions regarding life insurance, so you can make the best decisions for you and your family. We offer you the following complimentary no obligation services:
- Life Insurance Comparisons: Unsure of which insurance carrier to choose? Want to look at private insurance but don’t know where to start? Our life insurance comparisons take the top rated insurance carriers in the nation and show side by side quotes, bringing the insurance carriers to you.
- Life Insurance Consultations: Term, Whole Life, Universal Life, FEGLI; with so many life insurance options, it can be hard to determine what is right for you, not to mention how much insurance to purchase. Every single person has a different situation, and our consultations are designed to find the program that best suits your needs.
- Impaired Risk Life Insurance: Don’t let a medical condition keep you from obtaining life insurance. Every carrier views each health situation differently, and our impaired risk life insurance program is designed to find the carrier that wants to work with you.
- FEGLI Comparison: This detailed cost versus benefit analysis of your FEGLI compares your FEGLI coverage and premium to private life insurance. We will take a look at your FEGLI as both an active and retired employee. How much money can you save?