eli5 federal employee group life insurance (FEGLI) open season


I was looking around for a reason why FEGLI isnt a yearly open season, and i couldn’t find anything. It makes sense in a way to me i just can’t find any actual sources that explain the why. Not looking for advice to leave it or anything (what most posts are about) but just an actual reason that they don’t have a scheduled open season, but instead rely on “when the feel like it” scheduling. Any opinions or sources would be great as i can’t find anything myself.

Again i would like to make sure this is clear i understand how it works i just want to know the why it works this way.

In: 6

You don’t necessarily need frequent open seasons when there are some many qualifying life events. Think about when you’d need insurance…getting married, getting divorced, having a baby, baby grows up and leaves, child dies, etc…all of which are reasons that cause people to opt in are QLEs.

FEGLI doesn’t have a checkup/physical required. The life insurance company doesn’t want to sell life insurance to people who just got a terminal diagnosis and has a high chance of dying within the year.

By restricting open seasons to major reasons why people might want to change their life insurance they can offer new policies without a physical and keep risk reasonable.