The Office of Personnel Management has kicked off a life insurance coverage election event on Thursday through Sept. 30 to help eligible employees choose the type of insurance for them and their family members.
The Federal Employeesâ Group Life Insurance Open Season provides Option C coverage selection for federal employees through the human resources office of the workersâ respective agencies, OPM said Wednesday.
âThis Open Season will give eligible enrollees an opportunity to reassess their insurance needs and select the appropriate amount of coverage that is right for them and their families,â said Beth Cobert, OPM acting director.
Coverage will take effect on Oct. 1, 2017 for most biweekly employees and on Oct. 14, 2017 for Postal employees as there will occur a one-year delay for coverage chosen through the September 2016 FEGLI Open Season.
During the one-year waiting period, enrollees will not have to pay for their new coverage and will only begin payment once their new coverage becomes effective.
All rules for continuing FEGLI into retirement will apply to employees who will retire in October 2022 or later.
One requirement for retiring employees is that they must have the coverage throughout their last five years of government service, or their periods of service if they retire with less than five years of service, to apply for coverage.