Content Overview
- Summary
- How To Apply For A Living Benefit: Individual Policy
- How To Apply For A Living Benefit: Group Policy
- If You Have Federal Employees Group Life Insurance (FEGLI)
- What About Confidentiality Of My Medical Information?
- When You Receive Payment For A Living Benefit
- Precautions To Take When You First Contact A Life Insurance Company
How To Apply For A Living Benefit
If You Have Federal Employees Group Life Insurance (FEGLI)
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With FEGLI, if you have both basic and additional insurance: you can only accelerate the death benefit of the basic coverage so you receive money now. You can't accelerate any of the additional coverages.
Once a FEGLI policy is accelerated, the remainder cannot be assigned. However, if you convert the entire amount of insurance, then accelerate, you may be able to accelerate a percentage of ALL the insurance -- and probably even be able to sell the remainder.
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