The government shutdown has impacted hundreds of thousands of government employees and it is unclear when it will end and if all of those employees will get their jobs back. Many of these employees have life insurance policies with the Federal Employees’ Group Life Insurance (FEGLI). Although FEGLI benefits appear not to be affected by the shutdown yet, the money to cover these benefits could quickly disappear if the shutdown continues. Many sources are reporting that the shutdown could cost $200 million each day.
Although FEGLI may have seemed like a good deal when it was first offered to you, your benefits may no longer be guaranteed. Even if this chaos does not last long, you cannot be certain that the government will not become unstable again in the future. If you had life insurance with a private insurance carrier, you would not have to worry about the safety and security of your money and life insurance benefits. You could also find a plan that offers more affordable premiums than FEGLI does.
Here at Federal Advantage Benefit Company (FABC), we offer life insurance plans from many of the top carriers like Foresters, Monumental Life, Mutual of Omaha, and ING. Because we have so many plans to choose from, we can offer you a life insurance plan with the same amount of coverage that you get with FEGLI with more affordable premiums. Unlike a FEGLI policy, your money will not be threatened by a government shutdown. Your money will be safer and your benefits will be guaranteed, even if the government is not operating.
Visit our page for federal and government employees to learn more about how FABC could help you protect your family with an affordable and secure insurance policy.
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