Q: I am a 57-year-old FERS employee. For the last 20 or so years of my 27-year career, I have carried a private life insurer (WAEPA) instead of FEGLI. Would it be beneficial to me to switch back to FEGLI, which I believe now has lower premiums? Also, how long would I have to carry FEGLI before I could retire?
A: I have no idea if it would be beneficial for you to switch. However, if you do, you would need to be enrolled in FEGLI for five consecutive years before you retire to carry that coverage into retirement.