A useful life insurance comparison matches the benefit, the time period and the status of each offer. A preliminary quote for a medically underwritten policy is not equivalent to coverage already in force. Start with the confirmed FEGLI record and obtain the insurer's actual terms for any alternative under review.
Define what is being compared
Write the purpose of the review in ordinary language: a particular household obligation, a period of income replacement or another identified need. Then record which coverage applies to the employee and which applies to family members. Avoid comparing one person's death benefit with a combined household total.
For FEGLI, separate current employee coverage from the retirement election and any age-related reduction. For an individual policy, identify the insured person, product type, coverage period and current application status. Do not treat a federal benefit and a private contract as versions of the same program.
Match the comparison fields
| Field | FEGLI evidence | Individual contract evidence |
|---|---|---|
| Benefit amount | Accepted Basic and Optional record | Insurer-issued quote or policy schedule |
| Time period | Employee or retirement coverage assumptions | Term length or policy duration |
| Premium | Current official estimate and future changes | Guaranteed schedule and any nonguaranteed illustration |
| Reductions | Accepted retirement election and timing | Any changing benefit or expiration provision |
| Eligibility | Confirmed federal continuation record | Underwriting, delivery and effective-date conditions |
| Control and changes | Applicable federal election rules | Contract options, charges and restrictions |
| Status | In force, pending or estimated | Quoted, applied, approved, delivered or in force |
Compare the same interval and payment units. Keep a separate line for future premiums that are not guaranteed. A lower first payment does not establish a lower total cost or equivalent future coverage.
Separate conversion from a new underwritten offer
OPM describes conversion rights after certain qualifying losses of FEGLI coverage, with an individual policy available without a medical examination under the applicable rules. Conversion is a specific time-sensitive route, not a promise that any voluntarily cancelled coverage can be restored or that an unrelated quote will be approved.
If conversion is relevant, obtain the official notice and ask what coverage, forms, deadlines and premium basis apply. Compare that actual offer separately from a new medically underwritten application. Do not assume that a preliminary health discussion establishes the outcome of either process.
Confirm readiness before changing existing coverage
Ask the insurer to identify every condition remaining before the proposed coverage is in force. Keep application, approval, payment, delivery and effective date as separate statuses. Have a qualified licensed professional explain any applicable replacement requirements for the actual state and transaction.
Before submitting a federal reduction or cancellation, ask the benefits office about its consequences and reversibility. Preserve the current coverage until the intended decision and any replacement conditions have been reviewed. This worksheet does not instruct the reader to replace FEGLI.
Retain an understandable decision record
Save the comparison date, source documents, assumptions and unanswered questions. Keep medical and financial details in the appropriate secure application process. A website inquiry can request a comparison discussion without carrying the application itself.
Use the FEGLI record worksheet to reconcile existing coverage and the retirement timeline for federal reduction questions. No carrier is ranked here, and no premium, underwriting outcome or suitability conclusion is invented.
Browse federal benefits, retirement and insurance topics or read how we prepare and check our guides.
Sources
- OPM: Life insurance benefits and retirement, checked November 3, 2026
- OPM: Continuing coverage after leaving federal service, checked November 3, 2026
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