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You pay 100% of the premiums for your FEGLI Option B coverage. Unlike your Basic Life coverage which offers a level premium for all employees; Option B charges based on your age and the premiums increase every 5 years. Since Option B provides the most life insurance coverage under FEGLI it's the most expensive.

FEGLI charges the same rates regardless of whether or not you smoke, your overall health or if you are a male or female. If you don’t smoke and are reasonably healthy or if you are a female you may be overpaying for your Option B coverage.

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What does Critical Illness insurance cover?

Critical Illness insurance covers a range of illnesses. Some examples include:

  • Cancer
  • Heart Attack
  • Stroke

Some people may end up using the lump sum to pay for everyday expenses such as mortgage or rent, groceries, increased costs associated with child care as significant others are attending doctor’s appointments or traveling with a loved one who has been diagnosed with a serious condition.  Others may choose to seek out experimental trials or take experimental drugs that are not covered by most insurance plans.  Some others may seek treatment at centers of excellence that are far from home and which require additional costs associated with travel or hotel stays .  

A major illness can happen at any time and leave you feeling emotionally, physically and financially overwhelmed. Critical Illness insurance can help you be financially ready in the event of a diagnosis, so you can focus on the most important part of the process – recovery. With Critical Illness, recovery doesn’t have to be a financial strain.