FEGLI Calculator

FEGLI Solutions

We offer three different solutions: Permanent, term-life and combo life insurance policies.

• Permanent Life Insurance*
  
  Permanent life insurance refers to coverage that never expires, unlike term life insurance. Most permanent life insurance combines a death benefit with a savings component. Whole life and universal life insurance are two primary types of permanent life insurance. Permanent life insurance policies enjoy favorable tax treatment. Permanent life insurance policies have higher premiums than term life insurance policies BUT the death benefit does not expire after a specific number of years like term life insurance. Term life insurance is like “renting” life insurance. 
  
  
• Term life insurance*
  
  Term life insurance guarantees payment of a stated death benefit to the insured's beneficiaries if the insured person dies during the specified term. These policies have no value other than the guaranteed death benefit and don't feature a savings component (as is found in permanent life insurance products). Term life premiums are based on a person's age, health, and life expectancy.
  
  Depending on the insurance company, it may be possible to turn term life into permanent life insurance. You can purchase term life policies that last 10, 15, 20 years, or more, and can usually renew them for an additional term. After the Initial coverage years, your premiums can increase as much as 700-800%, with the costs increasing every year. 
  
  
• Combo Polices*
  
  These are policies that combine permanent and term life insurance. The advantage is that you get the best of both worlds; You get a permanent life insurance policy “for life’* and a term life insurance policy. This will give you a way to cover you and your loved ones with a better life insurance solutions at a lower cost.