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
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Assembly of people formed only for obtaining group insurance. Such a group is uninsurable and violates underwriting principles concerning group insurance. ...
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Same as term Debit Insurance: life insurance on which a premium is collected on a weekly, bi-weekly, or monthly basis, usually at the home of a policyholder. The face value of the policy is ...
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