Collapsing Life Insurance

Life Insurance. Those words are enough to make many people’s eyes roll over into the backs of their heads. Some people think it’s boring. Others simply don’t want to think about the fact that death is involved in anybody’s collection of “life” insurance. Still, each month, provides hundreds of million of dollars to widows, widowers, and […]

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OPM Breach: Update

OPM Hacked You probably remember that in early June, the Obama administration and OPM announced that the OPM systems were breached in April, and that the information of around 4 million Federal Employees was compromised. A Second Breach Unfortunately, we now know about a second, more severe breach of the same systems that exposed the information of […]

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The Service Computation Date Comes in Five Flavors

Comes in Five Flavors There are five different service computation dates that you should be familiar with.  They are used to determine your leave accrual rate, career tenure, in-grade pay increases, retirement eligibility, retirement annuity, retention position during a reduction in force, and TSP vesting. An Often Adjusted Date A Federal Employee’s service computation date (SCD) for most purposes is […]

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What is Life Insurance?

What is Life Insurance? The short answer is income replacement protection. But let’s dig in a bit deeper to see exactly what it means. Its Real Purpose Life Insurance is not a lottery ticket. It is simply meant to replace the income that is lost with the unexpected death of a loved one, so those left […]

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The CSRS Survivor Annuity vs. Life Insurance: The Dilemma

Survivor Annuity vs. Life Insurance:  The Conversation Starts The CSRS survivor annuity option is part of every federal retirement annuity.   This option is not free, but your spouse has to give consent if you decide not to take it. It can reduce your annuity up to 10% if your spouse is five or less years younger than […]

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FEGLI: The Basics – Coverage Options

What is Life Insurance? Life Insurance is a contract. If you pay the insurance company a certain amount of money each month and you die during the contract period, the insurance company will pay the person you select as your beneficiary a fixed amount of money. What is FEGLI? Federal Employee Group Life Insurance (FEGLI) […]

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Federal Employee Life Insurance Basics

Federal Employee Life Insurance: The Value in Just the Basics Federal Employee Life Insurance has many options but what is often lost with having so much choice is the value of the Basic coverage.  The Basic Federal Employee life insurance provided by FEGLI is a valuable Federal benefit that will come in handy for your family in time of […]

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Beneficiary Review

Back in 2012, Forbes online published an article titled “Dead man’s outdated beneficiary documents give one million to ex-wife.”  Can you imagine? This guy would probably be turning in his grave if he realized that he accidently gave one million dollars to the wrong person! The story goes on to explain how this man went to school, […]

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FEGLI: Not Just Another Pasta Course

When you started your job in one of those cavernous government buildings downtown, you probably knew that you were sacrificing the dream of a corner office or keys to the partners’ restroom in exchange for the infamous federal government employee benefits. The vacation, sick leave, telecommuting, healthcare, and Thrift Savings Plan are all wonderful, but the many […]

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FEGLI, Gesundheit, and Your Life Insurance Needs Assessment Test

Yesterday’s Fed Nav blog post, FEGLI, Not Just Another Pasta Course talked about how devastating it can be to choose the wrong Federal Employee Group Life Insurance plan. Before you make any decisions about what FEGLI option is right for you, taking a self-assessment needs test can help you choose the plan that meets your needs both […]

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