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Automatic Cancellation of Waiver
The automatic entitlement to Basic insurance and ability to elect Optional insurance if you are reinstated after a break in service of at least 180 days.
Living Benefits
Basic insurance benefits (full or partial) paid to you while you are still living, rather than paid to a beneficiary when you die. You must be terminally ill, with a life expectancy of 9 months or less, to qualify for a living benefit.
Option B
Coverage, equal to up to 5 multiples of your annual basic rate of pay, that you can elect in addition to Basic insurance. Also called additional optional insurance.
Annuitant
A former employee entitled to an annuity under a retirement system established for employees. This includes the retirement system of a nonappropriated fund instrumentality of the Department of Defense or the Coast Guard.
Designation of Beneficiary
Notice, signed by you and witnessed by two persons, indicating the person(s) you want to receive your life insurance benefits. The form generally used for life insurance designations is the Designation of Beneficiary form (SF 2823).
Assign and Assignment
Your irrevocable transfer of all ownership of FEGLI coverage (except Dismemberment coverage and Option C) to another individual, corporation, or trustee.
Incontestability
A statutory provision permitting erroneous enrollments that have continued for at least two years to become valid, if you have paid the applicable premiums during the period of erroneous coverage.
Option A
$10,000 in coverage that you can elect in addition to Basic insurance. Also called standard optional insurance.
Option C
Coverage, to insure your spouse and eligible child(ren), that you can elect in addition to Basic insurance. You can elect up to 5 multiples of the coverage amounts (each multiple equals $5,000 for a spouse and $2,500 for an eligible child). Also called family optional insurance.
Annuity
Retirement benefit paid on a monthly basis
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