I FEGLI, Group and Term Life Policies
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I FEGLI, Group and Term Life Policies

 

Program

Manual Section

ALTCS

MA705P

 

Procedures

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.