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FABC Federal Life Insurance Blog

Many people are unaware of the many affordable life insurance options and FEGLI alternatives that are available to them. We created the FABC Blog to keep you informed about the services we can provide to federal employees, individuals, business owners and seniors. Browse our posts to learn more about how FABC can serve you.

Because federal employees are automatically enrolled in the Federal Employee’s Group Life Insurance’s basic plan, many federal employees do not pay attention to how much it is costing them. FEGLI seems like a good deal for life insurance when you’re young, but the monthly cost of your FEGLI plan increases dramatically every five years. Your monthly cost nearly doubles!

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Many Americans concerned about how ObamaCare will affect the costs and benefits of their health insurance. Affordable health insurance is important to many people, because medical expenses can be quite costly. However, while people are concerned about health coverage, they’re completely forgetting about their need for life insurance coverage – which is just as important.

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The Federal Employee Viewpoint Survey (FEVS) which is conducted yearly by the Office of Personnel Management (OPM) measures the employee satisfaction in the federal government. The results for 2013 prove that employee satisfaction is down even more than it was in 2012. The survey was administered before hundreds of thousands of federal employees were furloughed in the October government shutdown; it’s likely that that the results would be even lower if the survey was administered today.

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College tuition prices are steadily rising, and most financial aid, scholarship, and grant programs are not. If you’d like your child to get a college education, it could cost you anywhere from $50,000 to well over $150,000 for a four year degree. Most people think that 529 plans are the best college savings plans available, but that isn’t the case. Index universal life insurance (IUL) is an insurance policy that gains interest overtime and can be used as a college savings plan. It’s safer than some 529 accounts, and comes with benefits that 529s can’t offer.

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Does your retirement savings plan have market risk? Will you have to pay income taxes on your retirement income? Do you have to wait until retirement age to access your money? If you passed away, would your family have to go through the lengthy and costly probate process to get to your retirement savings money if they could even access it at all?

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