Requirements for Keeping Life Insurance in Federal Retirement

You can keep your basic life insurance in retirement if all of the following conditions are met:

  1. 1. You have coverage when you retire;
  2. 2. You have not converted coverage to an individual policy;
  3. 3. Your annuity must begin within 30 days or, if you are retiring under the Minimum Retirement Age (MRA) plus 10 provision of the Federal Employees Retirement System (FERS), health and life insurance coverages are suspended until your annuity begins, even if it is postponed; and
  4. 4. You were insured for life insurance for the five years immediately preceding retirement or the full periods of service when coverage was available.

 

You can keep your optional life insurance in retirement if all of the following conditions are met:

  1. 1. You are eligible to continue your basic coverage; and
  2. 2. You were covered by the optional life insurance for the five years immediately preceding retirement or the full periods of service when coverage was available, if less than five years.

 

The requirements for continuing life insurance cannot be waived because OPM has no authority to grant such waivers. If you are not eligible to continue your life insurance coverage, you will be given the chance to change it to an individual policy.

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