If you are a Federal Employee and have been looking for a way to sell your Federal Employee Group Life Insurance policy, or FEGLI policy, you have come to the right place. In this blog post, we will discuss the process of selling your policy and tips on making the sale go as smoothly as possible.
What is a Federal Employee Group Life Insurance policy?
A Federal Employee Group Life Insurance policy is a life insurance policy that is offered to federal employees by their employer. FEGLI policy coverage is used to help financially protect the employee’s family in the event of the employee’s death, FEGLI coverage also allows the insured to sell their policy for cash if they need money from it now.
Why might someone want to sell a Federal Employee Group Life Insurance policy?
There can be a few reasons someone might want to sell their Federal Employee Group Life Insurance policy. A few reasons may be:
- You are no longer working for the federal government and want to get rid of the policy
- You are looking for some extra cash
- You have become ill and need help paying for treatment
- You have been laid off from your job and can’t afford the policy anymore
Benefits of selling my Federal Employee Group Life Insurance policy
A few benefits of selling a Federal Employee Group Life Insurance policy may be paying for medical expenses, funding retirement, etc. A FEGLI life insurance payout can also allow you to use the money to pay off debts.
On top of these benefits, you also no longer have to pay the premiums on your life insurance policy.
Who is eligible to sell a FEGLI policy?
Any current or former federal employee can sell their Federal Employee Group Life Insurance policy. If you own a FEGLI policy and either have a serious illness or are over the age of 75, you may qualify to sell your FEGLI policy for cash!
What is the process of selling a Federal Employee Group Life Insurance policy?
Selling your Federal Group Life Insurance Policy is as simple as filling out the form on our website. Once we receive the completed form, a member of our team will contact you for more information. We will ask you some questions about your policy and health status. After we have all the information we need, we will give you an offer for your policy. If you accept the offer, we will then send you a contract to sign. Once we receive the signed contract, and your FEGLI payout is approved,we will wire the offer amount to you. It’s that simple!
How much can I expect to receive from selling my FEGLI policy?
How does FEGLI life insurance work? The amount you can be paid from your FEGLI policy is based on the face value of the policy and your age and health. It would be best to contact us for more information so that we can give you a more accurate offer range.
American Life Fund can buy your FEGLI policy for cash now.
If you are interested in selling your policy, please don’t hesitate to contact us. We would be more than happy to help you through the process and answer any questions you may have.
Sell A FEGLI with a life settlement company you can trust.
American Life Fund is a life settlement company with over 15 years of experience in the industry. We have helped hundreds of policyholders get cash for their life insurance policies when needed.
Sell a FEGLI policy with a viatical settlement.
If you have been diagnosed with a serious illness, you may be able to sell your FEGLI policy with a viatical settlement. If you have a serious illness, we can give you more for your policy than a regular life settlment
We are here to help you get the most out of your FEGLI policy and will work hard to get you the best possible price for your policy.
Can I sell a part of my FEGLI policy?
Yes, here at American Life Fund, we offer the option to sell all or just part of a FEGLI policy. This way, if anything should happen, a portion of your policy will be left over for your family.
If you have any questions about selling your Federal Employee Group Life Insurance policy, don’t hesitate to get in touch with us. We would be more than happy to help you through the process of selling your life insurance policy