Federal Employees Group Life Insurance (fegli)
Definition of "Federal employees group life insurance (fegli)"
Plan administered through a primary private life insurer and reinsured through other private life insurers, providing a death benefit equal to:
- one year's salary for active employees at least age 45 until they reach age 65;
- two years' salary for active employees age 35 and under.
Popular Insurance Terms
Specifications dealing with exclusions, policy requirements, cancellations and related matters. Perils Most policies exclude enemy attack, invasions, insurrection, rebellion, revolution, ...
Record of ordinary policies that a combination agent is responsible for servicing. ...
Prepaid legal insurance coverage plan sold on a group basis. Entitles a group member to a schedule of benefits, at a stipulated premium, for adoptions, probates, divorces, and other legal ...
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Authority to act on behalf of an individual that terminates upon its revocation or death of that individual. ...
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Accounting rule found under the Generally Accepted Accounting Principles (GAAP) that prohibits the insurance company from restating assumptions that it made for interest earned, expenses ...
Institutional investment sold by life insurance companies that guarantees principal and offers withdrawal flexibility. This conservative investment, which can be used with a corporate ...
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