Posts tagged Life Insurance
Life Insurance For the Living

Pt 2: Chronic Illness

In the first article of this series we learned that Living Benefit Riders are additions to a life insurance policy that allow the policy owner to accelerate a portion of the Death Benefit during their lifetime in the event of a qualifying emergency.  Holistically designed life insurance plans coordinate Living Benefit Riders that provide access to tax-efficient emergency funds by “accelerating” some or all of the policy’s Death Benefit.  In this article we will continue to explore the ways in which Living Benefits are utilized and the real world application of these features.  For this conversation, though, the emphasis will be finding the most tax-efficient manner to provide for Long Term Care and discuss the different options commonly available to today’s federal employees.

Read More
Life Insurance For The Living

Part 1: Critical Illness & Terminal Illness

Let me open up with a simple question, how much of your FEGLI coverage is available for you to access while you still have a pulse?

Some of you may scoff and say, “Duh, NONE! It’s life insurance, clearly it is not meant for me!”

Now, while we are all well aware of the traditional application for life insurance… What if your life insurance could also provide coverage for you, the owner, during your lifetime?What if there was a way to access a portion of your Death Benefit in the case of a non-fatal emergency?There is! Strategies designed using Livin
g Benefits do exactly that

Read More
Timing the FEGLI

When It’s Best To Be Part of & To Stand Out From The Masses

When looking at the FEGLI there are 3 main factors in evaluating whether or not it is still the best option for coverage at this point in your life/career.  The first is your ability to qualify through the underwriting process for individual protection – generally determined by the combination of your age, health, and lifestyle habits (smoking, home-made-parachute skydiving etc).  The second is the time horizon for your protection needs - eventually the vast majority of Feds will be priced out of the FEGLI coverage (usually in their 50’s and 60’s).  The third factor is in determining what you want/need your life insurance to protect you from…

Read More
Pension Max vs SSB

A Fresh Take on an Age Old Debate

                In this article, we are looking specifically at the Surviving Spouse Benefit (SSB)– a benefit available to both CSRS and FERS retirees that provides a continuation of a portion of your FERS/CSRS pension to your surviving spouse should you predecease him or her. 

The goal of the SSB is to provide income continuation to your surviving spouse in order to help them maintain the standard of living your family is currently accustomed to.Much like life insurance, the Surviving Spouse Benefit has a cost (premium) and only begins replacing income to your spouse after you pass away and full pension payments end.

Read More