Understand exactly what your FEGLI coverage costs today, what it will cost at retirement, and whether it makes financial sense to keep it — or replace it.
Step 1 — Your Information
Find your FEGLI details on your Leave and Earnings Statement (LES) or pay stub under the "Deductions" section.
Found on your pay stub. Used to calculate Basic coverage.
I am a USPS / Postal Service employee
USPS employees: You do not pay premiums for Basic FEGLI while employed. However, you will be required to pay for Basic coverage after retirement. This calculator will reflect that difference.
Project salary with annual pay increase
Default 2%. Affects Basic and Option B coverage amounts.
Step 2 — Your Current FEGLI Coverage
Select the options you currently have enrolled. Check your pay stub deductions or your most recent SF-2817 form.
Basic Coverage
Your salary rounded up to the next $1,000 + $2,000. Required for all other options.
Option A — Standard
Flat $10,000 additional coverage. Fixed cost by age band.
Option B — Additional
1–5 multiples of your salary. Cost varies by age band.
Multiples:
Option C — Family
Covers spouse ($5,000/multiple) and children ($2,500/multiple). 1–5 multiples.
Multiples:
Step 3 — Post-Retirement Basic Coverage Election
At retirement, you must elect how your Basic coverage reduces after age 65. This is one of the most important — and often misunderstood — decisions in federal retirement.
Full Reduction
Coverage drops 2%/month at 65 until it reaches 25% of original value
Free after 65
No premium cost post-65. Benefit significantly reduced.
Half Reduction
Coverage drops 1%/month at 65 until it reaches 50% of original value
$0.30/$1,000/mo after 65
Moderate ongoing cost. Keeps half your coverage.
No Reduction
Coverage stays at 100% of original value for life
$1.10/$1,000/mo after 65
Higher cost but full benefit retained for life.
Click an option above to select it. We will calculate all three for comparison.
Step 4 — Private Coverage Comparison (Optional)
If you have a quote for private life insurance, enter the monthly premium here. We'll show you the total lifetime cost comparison so you can make an informed decision.
Enter your monthly premium from a private insurance quote.
The total death benefit of the private policy.
Note: Private coverage quotes vary by health, age, and policy type. This comparison uses your entered premium as a flat rate. Term life premiums are typically fixed; whole life may vary. Always verify with your insurance provider.
Your FEGLI Analysis
Current Coverage & Cost
Total Coverage
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Death benefit
Biweekly Premium
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Per pay period
Monthly Premium
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Per month
Annual Premium
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Per year
Projected Cost & Coverage Over Time
Post-Retirement Basic Coverage — All Three Options Compared
Breakeven Analysis — When Premiums Exceed the Death Benefit
At some point, the total premiums you've paid will exceed the value of the death benefit. This analysis shows that crossover point for each option.
FEGLI vs. Private Coverage — Lifetime Cost Comparison
FEGLI premium rates are based on current OPM published rates and are subject to change. Basic coverage = salary rounded up to next $1,000 + $2,000. Option B coverage = multiple × salary rounded up to next $1,000. Option C coverage = multiple × $5,000 (spouse) + multiple × $2,500 (each eligible child). USPS employees do not pay Basic premiums while employed but pay post-retirement. Post-retirement cost calculations assume retirement at the entered retirement date. Age band rates apply to the employee's age at each point in the projection. This calculator is for educational purposes only and does not constitute insurance or financial advice. Consult a licensed federal benefits specialist before making coverage decisions.
Is your FEGLI working for you?
Many federal employees are over-insured, under-insured, or paying far more than necessary for FEGLI. Octus Financial provides a full federal benefits review — including FEGLI optimization — at no cost for your first consultation.