[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: 5CFR870.906] [Page 392] TITLE 5--ADMINISTRATIVE PERSONNEL CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT (Continued) PART 870--FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM--Table of Contents Subpart I--Assignments of Life Insurance Sec. 870.906 Cancellation of insurance. (a) The right to cancel (or reduce) insurance transfers to the assignee; the insured individual cannot cancel (or reduce) insurance after making an assignment. (b) The assignee has the right to cancel insurance according to the provisions of Secs. 870,502 and 870.505. When there is more than one assignee, all assignees must agree to the cancellation. A cancellation of Basic insurance also cancels all Optional insurance.