Program |
Manual Section |
ALTCS |
Federal Employee Group Life Insurance (FEGLI) policies do not have a cash surrender value (CSV). Face values can vary but do not affect eligibility. Process the application without verifying the face value. You do not need a DE-204 Verification of Life Insurance Form.
Use the following procedures to verify FEGLI policies and enter the information into HEAplus:
Step |
Action |
1 |
Verify the customer has USOPM benefits by obtaining proof of current income. |
2 |
Enter the FEGLI policy into the system as “Term or Group Insurance”. |
3 |
Use $10,000.00 as a standard face value unless you already have proof of a higher amount. |
4 |
Do not send a DE-204 form to USOPM or their contracting provider Metropolitan Life Insurance Company. |
NOTE Accidental Death and Accidental Death and Dismemberment policies do not have a CSV. These policies are entered as “Term or Group Insurance” policies in the system. These policies also do not need a DE-204 form when the type of policy is verified.