admin/excused/annual

Termine

Trusted Contributor
Messages
344
The guy who does the NATCA-sponsored retirement seminar said FEGLI is a great option if you can't get any other insurance because they can't deny you for any kind of pre-existing condition. However, because they'll accept anyone, they're more expensive than most other insurance plans even after the FAA kicks in for you, so if you can get approved for other insurance that's generally better. Plus the premiums keep going up and up and up as you get older. He said they almost always recommend people get out of FEGLI as soon as possible, except maybe if they're a couple years from retirement and there's not much point.

I have WAEPA, which is cheaper than FEGLI (I'm paying a quarter as much for a little more coverage than before I switched) but also has increasing premiums as you age. NATCA apparently partners with Southern Insurance Group, I haven't looked into them very much.

He said the idea is to put aside enough into your TSP and Roth IRA that you create your own life insurance, as those accounts go directly to your beneficiaries when you die.
 

Phillyman2633

Legendary Member
Messages
879
View attachment 3895



Ah I assume that FEGLI was fixed from the moment you start paying for it. This is what I put in as someone from basics- is my math wrong and did I f up or am I covered for 90 grand? Of course this is very low since its basics pay but I assume that it'll go up as I start a facility? Please correct me if my logic is wrong.
FEGLI is fine if you're under 30 but as soon as you hit 30 and every birthday after, the premiums increase and are stupid expensive by the time you hit retirement age. Your best bet is to get private life insurance and do a 30 year term if you're under 30...I signed my paperwork like 2 months after my 30th birthday and they let me backpay 2 premiums to lock in the lower under-30 rate, otherwise I'd have paid like an extra $5/mo over the 30 year term so I saved money.

I got coverage through AOPA which ends up being $105/mo for $1.5m coverage but that's only because I wanted coverage for when I fly. If I got the same coverage without pilot coverage, my premium would have been around $67/mo. It sounds a lot higher than your FEGLI premiums at $18/mo but I'm getting 3x the coverage than I would have through FEGLI and also if you look at the premium structure, you end up paying like $140/mo when you're over 50 or something crazy.

If you dont have a pre-existing condition, private life insurance is the way to go...if you do the math you'll save a couple grand over 30 years and get much higher coverage than you could through FEGLI.
 
S

SIXTY-NINE

Guest
FEGLI is fine if you're under 30 but as soon as you hit 30 and every birthday after, the premiums increase and are stupid expensive by the time you hit retirement age. Your best bet is to get private life insurance and do a 30 year term if you're under 30...I signed my paperwork like 2 months after my 30th birthday and they let me backpay 2 premiums to lock in the lower under-30 rate, otherwise I'd have paid like an extra $5/mo over the 30 year term so I saved money.

I got coverage through AOPA which ends up being $105/mo for $1.5m coverage but that's only because I wanted coverage for when I fly. If I got the same coverage without pilot coverage, my premium would have been around $67/mo. It sounds a lot higher than your FEGLI premiums at $18/mo but I'm getting 3x the coverage than I would have through FEGLI and also if you look at the premium structure, you end up paying like $140/mo when you're over 50 or something crazy.

If you dont have a pre-existing condition, private life insurance is the way to go...if you do the math you'll save a couple grand over 30 years and get much higher coverage than you could through FEGLI.
Great advice, thanks for the information!
 

Termine

Trusted Contributor
Messages
344
How do I cancel my FEGLI, and should I sign up with another life insurance before I do?


Fill, print, sign, snail-mail to the Benefits Operations Center.

If you want to keep having life insurance I would recommend getting that lined up before canceling FEGLI because you need a qualifying life event to get back in, they almost never have open seasons.
 

slim

Active Member
Messages
89
I switched my life insurance recently and went from having coverage at 5x pay at $71/month to a 1 million policy at $45/month. Locked in til age 54 at which point I should not need life insurance because I should be self insured.
 

Roger_Roger

Trusted Contributor
Messages
412
I switched my life insurance recently and went from having coverage at 5x pay at $71/month to a 1 million policy at $45/month. Locked in til age 54 at which point I should not need life insurance because I should be self insured.

Which company are you using?
 

Termine

Trusted Contributor
Messages
344
What is the life insurance listed as on our paycheck. I don’t even know what I’m paying.

It's three separate line items:
  • FEGLI — Regular (based on your salary, and the Extra Benefit if you're under 45)
  • FEGLI — Optional (Option A, the flat $10k extra)
  • FEGLI — Additional (Options B and C, the multiples of your salary and insurance for your dependents)
Plus the FAA kicks in toward your Regular premium, that's a line item in the "benefits paid by govt" section.
 

Dialoutmfer

Active Member
Messages
92
Please consider continuing the basic portion of FEGLI as it is not priced as the rest. The premiums do not go up as you age and the FAA pays 1/3 of the premium cost. Also at retirement if you choose the 75% reduction it is a great deal. If your coverage was $175,000 that coverage would continue till age 65 when the coverage level would go down 2% a month. So just after age 68 your coverage would reach $43750. It would remain there until you die. The premium at age 65 would go to $0 and stay there until you die. It’s not a huge death benefit but after age 65 it is free. The additional coverages of FEGLI do get very pricy as you age but the basic coverage is actually a bargain in the long term.
 

aaran34

Active Member
FAA
Messages
80
Facility
ZDV Denver Center
We are back to a normal schedule with some EA exceptions. Shift guidelines dropped from 12 to 8 on swings and 11 to 8 on days. They started scheduling EA days in order of who has the least amount of hours and seniority.

It is listed in webscheduler that you are on an EA recallable shift. First up for recall, second, etc. We were all briefed by the area rep that when you have that extra EA day you are recallable up to the first hour, after that you’re good.
 

GMX

Trusted Contributor
Messages
246
We are back to a normal schedule with some EA exceptions. Shift guidelines dropped from 12 to 8 on swings and 11 to 8 on days. They started scheduling EA days in order of who has the least amount of hours and seniority.

It is listed in webscheduler that you are on an EA recallable shift. First up for recall, second, etc. We were all briefed by the area rep that when you have that extra EA day you are recallable up to the first hour, after that you’re good.

So management is actually scheduling who to assign excused absences to based on a couple criteria, AND people can get a whole day off if the staffing permits? Nice. We don't have a system like that.
 

steakvendor

Member
Messages
70
FEGLI is fine if you're under 30 but as soon as you hit 30 and every birthday after, the premiums increase and are stupid expensive by the time you hit retirement age. Your best bet is to get private life insurance and do a 30 year term if you're under 30...I signed my paperwork like 2 months after my 30th birthday and they let me backpay 2 premiums to lock in the lower under-30 rate, otherwise I'd have paid like an extra $5/mo over the 30 year term so I saved money.

I got coverage through AOPA which ends up being $105/mo for $1.5m coverage but that's only because I wanted coverage for when I fly. If I got the same coverage without pilot coverage, my premium would have been around $67/mo. It sounds a lot higher than your FEGLI premiums at $18/mo but I'm getting 3x the coverage than I would have through FEGLI and also if you look at the premium structure, you end up paying like $140/mo when you're over 50 or something crazy.

If you dont have a pre-existing condition, private life insurance is the way to go...if you do the math you'll save a couple grand over 30 years and get much higher coverage than you could through FEGLI.
Pretty sure the premium goes up when you hit 35, not 30. Unless atc has some exemption that screws us
 
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