Get the free Optional Group Life Late Entrant and Life Event Form

This document is used for enrolling employees and their dependents in life insurance coverage through The Prudential Insurance Company, specifically during qualifying life events or as a late entrant.

How to fill out optional group life late

How to fill out Optional Group Life Late Entrant and Life Event Form

1. Obtain the Optional Group Life Late Entrant and Life Event Form from your HR department or company website.
2. Fill out your personal information at the top of the form, including name, employee ID, and contact information.
3. Indicate the type of late entrant or life event you are applying for in the designated section.
4. Provide necessary documentation to support your application, such as proof of a life event.
5. Review the form for accuracy and completeness.
6. Submit the completed form and supporting documents to your HR department or insurance provider as instructed.

Who needs Optional Group Life Late Entrant and Life Event Form?

1. Employees who missed the initial enrollment period for group life insurance.
2. Individuals experiencing a qualifying life event such as marriage, divorce, birth, or adoption.
3. Employees wishing to increase their life insurance coverage after the initial enrollment.

People Also Ask about

How does optional term life insurance work?

Employers provide a basic level of group term life insurance at little or no cost to all eligible employees. Supplemental coverage is optional insurance at work that employees can purchase for an additional premium if they want more coverage for themselves, their spouse, or their children.

Is optional life insurance worth it?

Optional Term Life Insurance provides additional coverage, including AD&D coverage, up to four times your annual salary (Election 1, 2, 3 or 4). Maximum coverage is $400,000. The monthly premium is based on your coverage election, your salary and your age. Coverage begins to decrease when you reach age 70.

What is the basic payout for FEGLI?

Basic Coverage The death benefit amount paid is slightly higher than the deceased's annual salary was at death. Basic FEGLI Death benefits calculation is as follows; annual salary rounded up to the nearest thousand, then add an additional $2,000.

How much is FEGLI's basic death benefit?

There are two types of FEGLI life insurance: Basic and Optional. Basic: Equals your salary rounded up to the next even $1,000, plus $2,000; includes Accidental Death and Dismemberment coverage at no additional cost; plus “Extra Benefit” coverage for enrollees under age 45.

What is optional group term life insurance?

A single policy that covers many people, most often provided by an employer or a group (like a union). Covers an individual for a certain amount of time only, in contrast to permanent insurance like whole life. Pays a lump sum to a deceased person's beneficiaries.

What is the average FEGLI payout?

Basic Coverage Basic FEGLI Death benefits calculation is as follows; annual salary rounded up to the nearest thousand, then add an additional $2,000. (So, for example, a salary of $50,400 would provide FEGLI benefits of $53,000.)

What is the FEGLI 5 year rule?

FEGLI life insurance coverage after retirement. To carry your insurance coverage(s) into retirement you must have been enrolled in FEGLI for the five years before your retirement, or from your earliest opportunity to enroll. If you don't meet that requirement, you cannot continue coverage.

What is form sf 2817?

To make a change to FEGLI coverage you must complete an SF 2817, Life Insurance Election form – it cannot be done using Employee Express. The government pays about 1/3 of the cost of your premiums for Basic coverage. You pay the full cost for all Optional insurance coverage.

How long does it take for FEGLI to pay out?

The Office of Federal Employees' Group Life Insurance (OFEGLI) is an administrative unit of Metropolitan Life Insurance Company (MetLife) that pays claims for the FEGLI Program. Once a claim for benefits is fully documented, OFEGLI will generally pay it within 10 working days.

For pdfFiller’s FAQs

What is Optional Group Life Late Entrant and Life Event Form?

The Optional Group Life Late Entrant and Life Event Form is a document used by employees to apply for optional group life insurance coverage after the initial enrollment period, usually due to qualifying life events such as marriage, childbirth, or adoption.

Who is required to file Optional Group Life Late Entrant and Life Event Form?

Employees who wish to enroll in optional group life insurance after the initial enrollment period or those who have experienced a qualifying life event must file this form.

How to fill out Optional Group Life Late Entrant and Life Event Form?

To fill out the form, start by providing personal identification details, indicating the type of life event triggering the late enrollment, selecting the desired coverage amount, and signing the form to acknowledge the information provided is accurate.

What is the purpose of Optional Group Life Late Entrant and Life Event Form?

The purpose of this form is to allow eligible employees to enroll in group life insurance coverage after the initial application period has passed, ensuring they have access to this important benefit during life changes.

What information must be reported on Optional Group Life Late Entrant and Life Event Form?

The information that must be reported includes personal information (such as name, address, and employee ID), details about the life event prompting the application, requested coverage amounts, and any additional beneficiaries to be designated.