[Code of Federal Regulations]
[Title 5, Volume 2]
[Revised as of January 1, 2004]
From the U.S. Government Printing Office via GPO Access
[CITE: 5CFR870.906]

[Page 412]
 
                    TITLE 5--ADMINISTRATIVE PERSONNEL
 
          CHAPTER I--OFFICE OF PERSONNEL MANAGEMENT (CONTINUED)
 
PART 870_FEDERAL EMPLOYEES' GROUP LIFE INSURANCE PROGRAM--Table of Contents
 
                 Subpart I_Assignments of Life Insurance
 
Sec. 870.906  Cancellation of insurance.

    (a) The right to cancel (or reduce) insurance transfers to the 
assignee; the insured individual cannot cancel (or reduce) insurance 
after making an assignment.
    (b) The assignee has the right to cancel insurance according to the 
provisions of Sec. Sec. 870,502 and 870.505. When there is more than 
one assignee, all assignees must agree to the cancellation. A 
cancellation of Basic insurance also cancels all Optional insurance.