Besides saving you significant amounts of money, the plans we offer federal employees have “Living Benefits” attached to them that can pay Lump Sum Benefits if you experience one of 18 “Triggers” such as a Major Heart Attack, Invasive Cancer, or even a stroke.
Since 2001, we have given over 250,000 federal employees the opportunity to reduce their FEGLI costs by as much as 75%, and over the course of time, these savings can amount to a truly significant amount of money.
We saw one Case Study where a 60 year old male federal employee saved $163,000 over 20 years, with an initial annual savings of $2650. In another instance, we saw a 54 year old female federal employee save $2400 a year, with a 20-year savings of $177,000.
Naturally, you can use these savings in many different ways, such as a vacation, paying down your credit card debt, or even putting them to work towards increasing your TSP Account Value, with the multiplying impact of matching funds.
Our Fed Term FEGLI Savings Calculator will show you how much you can potentially save, and if you add those savings to your TSP Account, how much these savings will accelerate your TSP account value over time.
And if you already have private insurance, this is a good chance to save some money as well and get better coverage.
Paul and Jeannette Hoffmann