[Code of Federal Regulations]
[Title 5, Volume 2, Parts 700 to 1199]
[Revised as of January 1, 2001]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR870.205]

[Page 370]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
          CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT (Continued)
 
PART 870--FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM--Table of Contents
 
                Subpart B--Types and Amount of Insurance
 
Sec. 870.205  Amount of Optional insurance.

    (a) Option A coverage is $10,000. Effective for pay periods 
beginning on or after October 30, 1998, Option A cannot exceed this 
amount. Exception: This does not apply to annuitants who retired with a 
higher amount of Option A before the removal of the maximum on Basic 
insurance (the first pay period beginning on or after October 30, 1998).
    (b)(1) Option B coverage comes in 1, 2, 3, 4, or 5 multiples of an 
employee's annual pay (after the pay has been rounded to the next higher 
thousand, if not already an even thousand). Effective for pay periods 
beginning on or after October 30, 1998, there is no maximum amount for 
each multiple.
    (2) The amount of Option B coverage automatically changes whenever 
annual pay is increased or decreased by an amount sufficient to raise or 
lower pay to a different $1,000 bracket.
    (c) Effective April 24, 1999, Option C coverage comes in 1, 2, 3, 4, 
or 5 multiples of the following amounts: $5,000 on the death of a spouse 
and $2,500 on the death of an eligible child. Payments are made to the 
insured individual.

[62 FR 48731, Sept. 17, 1997, as amended at 64 FR 72461, Dec. 28, 1999]