OPM warns employees about fake FEGLI “discounts”

From USPS News Link:

opmThe Postal Service is warning employees to be wary of companies or individuals marketing Federal Employees’ Group Life Insurance (FEGLI) policies.

The U.S. Office of Personnel Management (OPM) reports it has received complaints from federal agencies that certain private life insurance companies and sales agents have been marketing products that promise discounts on FEGLI premiums. Some have claimed to be OPM approved.

However, neither OPM nor the Office of Federal Employees’ Group Life Insurance (OFEGLI) — the administrative unit of Metropolitan Life Insurance Company that processes FEGLI claims — use sales agents to promote or market FEGLI. Discounts aren’t available for FEGLI because premiums are fixed at government-wide rates based on age, salary and individual enrollment elections.

OPM does not endorse any privately sponsored life insurance policies or products. It also has no connection with any supplemental life insurance products marketed to federal or postal employees. Products or sales pitches that suggest otherwise are misleading. OPM can only offer benefits that have been approved by Congress.

As open season for enrollment in federal benefits programs approaches, companies may step up attempts to sell unauthorized policies to employees. USPS will enforce its “no solicitation policy,” which prohibits vendors from selling products on postal property unless they are under contract with USPS.

Read more: USPS News Link Story – False claims.