What is optional life coverage?
Optional term life insurance is additional coverage you can purchase through your employer that is over and above the basic life insurance coverage you get through an employee benefits plan. Your employer typically pays the premium for the basic coverage, and you pay the full premium for any optional term life you buy.
What are Fegli options AB and C?
Three types of Optional insurance: Option A—Standard, in the amount of $10,000; Option B—Additional, in an amount from one to five times your annual rate of basic pay after rounding your salary up to the next $1,000; Option C—Family, one to five multiples of coverage for your spouse and your eligible dependent children …
What is Fegli code B0?
LIST OF NEW FEGLI CODES. A0 Ineligible. B0 Waived. C0 Basic only.
What are Noa codes?
NOA codes are the specific personnel action used to create or change a civilian personnel record.
What does optional insurance mean?
Optional insurance means the insurance that a beneficiary can elect in addition to the basic insurance under the federal employees’ group life insurance (FEGLI) program.
What are optional benefits?
Optional Employee Benefits Employers Can Provide. These generally include benefits such as unemployment insurance, workers’ compensation, and leave related to personal or family-related medical needs.
What is Fegli optional AB?
FEGLI Option B is essentially term insurance – with a guaranteed renewable five year term. This plan in particular can insure you for as much as 1, 2, 3, 4, or even 5 times your Annual Salary rounded up to the nearest $1,000.
What is Fegli code?
Life Insurance (FEGLI): As a new employee, you are automatically enrolled in Basic FEGLI (code C0), which is effective on your first day at work in a pay and duty status. You can waive FEGLI coverage at any time by completing the SF-2817 and submitting the form to personnel.
What is FERS code KF?
• KF – FERS-FRAE (Further Revised Annuity Employees) and FICA. • M – FERS and FICA –Special (for Firefighter and Law Enforcement Officers) • MR – FERS-RAE and FICA – Special (for Firefighter and Law Enforcement Officers) • MF – FERS-FRAE and FICA – Special (for Firefighter and Law Enforcement Officers)
What is a Nature of Action Code?
Nature of Action. (1) The nature of action (NOA) is the phrase that explains the action that is occurring (such as “appointment” or “promotion”). Each nature of action has a unique numerical code that identifies, for statistical and data processing purposes, that particular nature of action.
What does Realfnment SF 50 mean?
Definitions. a. A realignment is the movement of an. employee and employee’s position when: — an organization change (such as. reorganization or transfer of function)
What kind of life insurance does OPM have?
FEGLI is group term life insurance. It does not build up cash value. You cannot take a loan out against your FEGLI insurance. OPM has a contract with the Metropolitan Life Insurance Company (MetLife) to provide this life insurance. MetLife has an administrative office called the Office of Federal Employees’ Group Life Insurance (OFEGLI).
Is there a life insurance program for federal employees?
The Federal Employees’ Group Life Insurance (FEGLI) Program is a life insurance program for Federal and Postal employees and annuitants, authorized by law (Chapter 87 of Title 5, United States Code). The Office of Personnel Management (OPM) administers the Program and sets the premiums.
Who is covered by Option C life insurance?
Option C provides life insurance for your spouse and eligible dependent children. When you elect Option C coverage, all of your eligible family members are automatically covered.
Who are federal employees group life insurance ( FEGLI )?
The Office of Federal Employees’ Group Life Insurance (OFEGLI), which is a private entity that has a contract with the Federal Government, processes and pays claims under the FEGLI Program.