Insurable interest

0

Q. I chose an insurable interest annuity when I retired in 1998. I have since separated (never married this individual) and I just found out they have married. How can I stop this insurable interest annuity and will I be able to stop my deductions from my monthly retirement check? I was a Department of Defense CSRS employee.

A. The only circumstances that allow for a cancellation of an insurable interest annuity are listed in https://www.opm.gov/retirement-services/publications-forms/csrsfers-handbook/c052.pdf. You’ll find them at Section 52A4.1-3. Unfortunately, none of them apply to your situation.

Share.

About Author

Reg Jones was head of retirement and insurance policy at the Office of Personnel Management. Email your retirement-related questions to fedexperts@federaltimes.com.

Leave A Reply