Basic Life Insurance Basics

Federal Employee Group Life Insurance is the insurance the majority of federal employees have.

Some basic facts on Federal Employee Group Life Insurance:

  • FEGLI is the largest group life insurance program in the world.
  • FEGLI covers over 4 million Federal employees and retirees, as well as many of their family members.
  •  The Federal Government established the Federal Employees’ Group Life Insurance (FEGLI) Program on August 29, 1954.
  • MetLife pays claims for FEGLI through the Office of Federal Employees’ Group Life Insurance.

Click here to view FEGLI’s Claims for Death Benefits Pages

How to Calculate Basic Life Insurance

To calculate your Basic Life Insurance amount:

  • Calculate your yearly salary
  • Round it up to the nearest thousand
  • Add two thousand


John’s base pay is $50,512/year.

Rounding his salary up to the nearest thousand equates to $51,000.

Add $2,000 equals $53,000.

So, in summary, John has $53,000 in Basic Life Insurance.

How much does Basic Life Insurance Cost?

AGE Biweekly Cost
(per $1000 of coverage)
Basic Monthly Cost
(per $1000 of coverage)
Any $0.15 $0.325

What about in retirement?

 Time 75% Reduction 50% Reduction No Reduction
Until the Month after your 65th Birthday $0.325 monthly $0.965 monthly $2.265 monthly
Starting the Month after your 65th Birthday Free $0.64 monthly* $1.94 monthly*

Important Tip***: Essentially, once you turn 65 or retire, whichever is later, your FEGLI Basic Life Insurance coverage will be reduced by 75% unless you pay to have it not reduce.

If you have any questions or comments feel free to leave it in the comments section below.

Thank You,

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Cooper Mitchell

Author Cooper Mitchell

Hello, I'm Cooper. I am the President of and an Investment Advisor Representative for Dane Financial, LLC. I specialize in helping Federal Employees better understand their benefits and prepare for retirement through Comprehensive Financial Planning and Investment Management. When I'm not helping federal employees, you can find me focusing on other entrepreneurial pursuits, spending time with my beautiful Wife, worshipping Christ, blogging, lifting (somewhat) heavy weights, and reading non-fiction.

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