Premium Comparison Calculator
Basic life insurance is equal to the greater of (a) your annual rate of basic pay rounded up to the next $1,000 plus $2,000
or (b) $10,000. The Federal Government pays one-third of the cost of your Basic life insurance. The U.S. Postal Service
pays 100% of the cost of Basic for Postal Service employees. Basic insurance includes the Extra Benefit and Accidental
Death and Dismemberment coverage.
Premiums for Basic coverage depend on the amount of Basic you have, not on your age. Federal employees currently pay 15
cents per thousand dollars of Basic coverage.
The Extra Benefit is provided to employees under age 45 at no additional cost. This extra benefit doubles the amount of
Basic life insurance payable if you are age 35 or younger. Beginning on your 36th birthday, the Extra Benefit decreases
10% each year until at age 45 there is no Extra Benefit.
Accidental Death and Dismemberment coverage provides additional funds in the event of a fatal accident or an accident that
results in the loss of a limb or eyesight. For benefits to be paid, the loss must ocurr not more than one year after the
accident and be a direct result of bodily injury sustained from that accident, independent of all other causes. AD&D
Insurance is provided at no additional cost. Accidental Death & Dismemberment coverage is an automatic part of Basic and
Option A insurance for employees.
Option A Standard
You may elect Option A Standard Life Insurance in the amount of $10,000.
Option B Additional
You may elect Option B Additional Life Insurance in an amount equal to one, two, three, four or five times your annual
basic pay (after rounding up to the next $1,000).
Option C Family
You may elect Option C Family Life Insurance to provide coverage for your spouse and eligible dependent children. When
you elect Option C, all of your eligible family members are automatically covered. You may elect either one, two, three,
four, or five multiples of coverage. Each multiple is equal to $5,000 for your spouse and $2,500 for each of your eligible
For example, if you elect three multiples, that means that if your spouse dies, you would receive $15,000 (3 times $5,000).
If one of your eligible dependent children dies, you would receive $7,500 (3 times $2,500).
Each multiple is a unit. For example, if you elect two multiples, that means you have two multiples on your spouse and two
multiples on your eligible dependent children. You cannot elect a number of multiples for your spouse that is different
from the number of multiples for your eligible dependent children.
Eligible dependent children must be unmarried and under age 22, or if age 22 or over, incapable of self-support because of
a mental or physical disability that existed before the child reached age 22. Eligible dependent children include your
natural children, adopted children, stepchildren (if they live with you in a regular parent-child relationship), recognized
natural children, and foster children (if they live with you in a regular parent-child relationship). Stillborn children
are not covered.
You receive Option C benefits; you cannot designate a beneficiary.