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If you are reemployed under conditions which terminate your annuity, your life insurance coverage as a retiree also ends without the right to convert to an individual policy. You can, however, acquire life insurance coverage as an employee, provided you are reemployed in a position which includes such coverage.
If your annuity continues during your reemployment and you are reemployed in a position which is excluded from life insurance coverage, you will retain any Basic and Optional life insurance coverages you have as a retiree.
If you are reemployed in a position with life insurance coverage, you will automatically acquire Basic life and any Option A and Option C coverage you have as a retiree or an employee unless you waive all insurance coverage.
Note: Any waiver of life insurance you file with your employing agency as a reemployed annuitant applies not only to your life insurance as an employee, but also to the insurance you have as a retiree.
You are eligible for Option A - Standard insurance unless you have on file a valid waiver of Basic life insurance or Option A insurance. In addition, you can acquire Option C - Family insurance as an employee, unless you have on file a valid waiver of Basic life insurance or Option C.
If you acquire the above life insurance coverage(s) as an employee, your employing agency will withhold the applicable premiums from your salary, and we will suspend your Basic life, Option A, and Option C during your reemployment. After your employing agency notifies us, we will stop withholding premiums for Basic, Option A, and Option C.
In this instance, your Option B coverage as a retiree (including any premiums withheld from your annuity) will be suspended during your reemployment after we receive proper notification from your employing agency.
Page updated January 27, 2003