[Code of Federal Regulations]
[Title 5, Volume 2]
[Revised as of January 1, 2002]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR870.702]

[Page 402]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
          CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT (Continued)
 
PART 870--FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM--Table of Contents
 
                Subpart G--Annuitants and Compensationers
 
Sec. 870.702  Amount of Basic insurance.

    (a) The amount of Basic insurance an annuitant or compensationer can 
continue is the BIA on the date insurance would otherwise have stopped 
because of the individual's separation from service or completion of 12 
months in nonpay status. The amount of Basic insurance in force is the 
BIA minus any reductions applicable under Sec. 870.703(a).
    (b)(1) For the purpose of paying benefits upon the death of an 
insured individual under age 45 who is retired or receiving 
compensation, the BIA will be multiplied by the appropriate age factor 
shown in Sec. 870.202(c) of this part. Exceptions:
    (i) If the insured individual retired or became insured as a 
compensationer before October 10, 1980, or
    (ii) If the insured individual elected a partial Living Benefit as 
an employee under subpart K of this part.
    (2)(i) For an annuitant or compensationer who elected a partial 
Living Benefit as an employee, the amount of Basic insurance he/she can 
continue is the post-election BIA, as shown in Sec. 870.203(a)(2) of 
this part.
    (ii) For the purpose of paying benefits upon the death of an insured 
annuitant or compensationer under age 45 who elected a partial Living 
Benefit as an employee, the BIA will be multiplied by the age factor in 
effect on the date OFEGLI received the completed Living Benefit 
application.

[64 FR 72463, Dec. 28, 1999]