Life insurance can do more than provide a benefit after you’re gone. Depending on the policy, living benefits may allow you to access part of your death benefit while you’re alive following a qualifying illness or injury.
In this episode of Rayna Retirement, Rayna Reyes explores the difference between FEGLI’s living benefit provision and the benefits available through some individual life insurance policies. She discusses terminal, chronic and critical illness benefits, how eligibility and underwriting work, and why understanding the conditions for a claim matters.
Rayna also shares her family’s experience using a living benefit after her husband’s cancer diagnosis—and how that payment gave them additional financial flexibility during treatment.
For federal and postal employees approaching retirement, this conversation offers another way to think about protecting your savings and preparing for unexpected healthcare needs.
--
Contact Rayna directly at 850-450-6500
Or call the American Federal Benefits Consultants team at 1-800-872-8857
Visit: AmericanFederal.org
--
YouTube: https://www.youtube.com/@RaynaRetirement
Rayna Retirement is the go-to podcast for federal employees – or anyone – looking to make smarter financial decisions with clarity and confidence. Hosted by Rayna Reyes, co-founder of American Federal Benefits Consultants, this show simplifies the complexities of retirement, benefits, and financial planning.
Whether you're navigating your FERS or CSRS pension, maximizing your TSP, or seeking expert advice on 401(k)s or IRAs, Rayna is here to guide you every step of the way. Tune in for practical knowledge, ethical solutions, and expert insights as you prepare for a secure and fulfilling retirement.
In this heartfelt episode, Rayna tackles a difficult but essential topic: preparing your spouse for what happens if something happens to you. Drawing from...
In this episode of Rayna Retirement, Rayna Reyes breaks down what the Postal Reform Act means for your Medicare and health benefits—and how it...
In this episode of Rayna Retirement, host Rayna Reyes breaks down the new rules for catch-up contributions in 401(k) and TSP accounts starting in...