Is there such a thing as FEGLI "replacement policy number" (wrt: obtaining new policy from a broker)

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InvisibleAerobar
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Joined: Mon Jan 15, 2018 12:33 pm

Is there such a thing as FEGLI "replacement policy number" (wrt: obtaining new policy from a broker)

Post by InvisibleAerobar » Fri Nov 15, 2019 11:18 am

TLDR: If so, how do I locate it? If not, would something else suffice, for purpose of when I'm applying for life insurance policy obtained via broker?

Back story. After reading about the benefits and downsides of FEGLI, as it pertains to someone of reasonably health, I decided to look elsewhere for a new policy. I submitted an application via HealthIQ and have since completed a physical and went through the entire process.

Now the underwriter for the new policy asks that I provide "replacement policy number of your current life insurance". I called HR and was told that such a number doesn't exist. I was also told that there may be something called a group account. Not sure if that's at relevant wrt: what the new policy underwriter needs

Silk McCue
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Re: Is there such a thing as FEGLI "replacement policy number" (wrt: obtaining new policy from a broker)

Post by Silk McCue » Fri Nov 15, 2019 11:53 am

Just tell them it is Federal Group Insurance and ask them specifically what they need you to provide for that. They may not even care once they know that.

Cheers

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BL
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Re: Is there such a thing as FEGLI "replacement policy number" (wrt: obtaining new policy from a broker)

Post by BL » Fri Nov 15, 2019 12:17 pm

Did you shop around for price using independent brokers or something like term4sale.com ? It is not too late to do a quick check online if not, just to see if you have received a low-cost policy quote.

Agree with suggestions you received.

Topic Author
InvisibleAerobar
Posts: 354
Joined: Mon Jan 15, 2018 12:33 pm

Re: Is there such a thing as FEGLI "replacement policy number" (wrt: obtaining new policy from a broker)

Post by InvisibleAerobar » Fri Nov 15, 2019 1:29 pm

Silk McCue wrote:
Fri Nov 15, 2019 11:53 am
Just tell them it is Federal Group Insurance and ask them specifically what they need you to provide for that. They may not even care once they know that.

Cheers
understood; thank you
BL wrote:
Fri Nov 15, 2019 12:17 pm
Did you shop around for price using independent brokers or something like term4sale.com ? It is not too late to do a quick check online if not, just to see if you have received a low-cost policy quote.

Agree with suggestions you received.
thanks for the suggestion. the quote is about $50/year higher than the lowest priced quote available, but I think this has to do with my family health history, which ruled out a few carriers

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