Federal Civilian and U.S. Postal Service Employees became a specific and important GPM Life target market in 1977. Since then, our production results from this market have increased dramatically, comprising today approximately 30% of GPM's new sales annually.
There are almost 3 million Federal Employees. Their average age, length of service, income, and benefits program participation make them excellent candidates for Life Insurance and Annuity products…products that can be purchased as a result of the benefits coordination planning our agents provide.
In general, Federal Employees' benefits are excellent and cover a wide spectrum of needs. However, three of those benefits require special attention:
- Federal Employees' Group Life Insurance (FEGLI);
- Surviving Spouse Benefit (SSB);
- Thrift Savings Plan (TSP).
Personally owned permanent Life Insurance, when compared to benefits
FEGLI and SSB, may offer policyowners and their beneficiaries more cost effective benefits in many, if not most cases. GPM Life's Annuities are excellent products for "rollover" contributions from 401(k) type plans, such as in
TSP.
GPM Life's long experience with administering the payment of Life Insurance policy premiums by Federal Allotment provides us with the necessary skills and personnel to "Service What We Sell" according to a high standard of quality.
Federal Civil Service Employees, and their families, will continue to be an important target market for us.
Active agents may order a presentation on Your Federal Civil Service Employees' Benefits from GPM Life.
Additional evidence of GPM Life’s support of federal employees is evidenced by the fact that Mitch Newstadt, Regional Director of Agencies in Shreveport, LA, has been elected President of the Society of Certified Federal Employee Benefits Specialist.
The society of ChFEBC is a training program created to help financial services professionals better understand the retirement needs of the federal employees whose planning is complicated by constant change and requires continuous study for specialists to be able to present pertinent and appropriate planning options to retiring federal employees.
