U.S. Code > Title 5 Government Organization and Employees > PART III—EMPLOYEES (§§ 2101—10210) > Subpart G—Insurance and Annuities (§§ 8101—9009) > CHAPTER 87—LIFE INSURANCE (§§ 8701—8716) > § 8704. Group insurance; amounts

§ 8704. Group insurance; amounts

(a) An employee eligible for insurance is entitled to be insured for an amount of group life insurance equal to—
(1) the employee’s basic insurance amount, multiplied by
(2) the appropriate factor determined on the basis of the employee’s age in accordance with the following schedule:

 
If the age of the employee is The ­appropriate ­factor is:
35 or under 2.0
36 1.9
37 1.8
38 1.7
39 1.6
40 1.5
41 1.4
42 1.3
43 1.2
44 1.1
45 or over 1.0.  

(b) An employee eligible for insurance is entitled to be insured for group accidental death and dismemberment insurance in accordance with this subsection. Subject to the conditions and limitations approved by the Office of Personnel Management which are contained in the policy purchased by the Office, the group accidental death and dismemberment insurance provides payment as follows:

 
Loss Amount payable
For loss of life Full amount of the employee’s basic insurance amount.
Loss of one hand or of one foot or loss of sight of one eye One-half the amount of the employee’s basic insurance amount.
Loss of two or more such members Full amount of the employee’s basic insurance amount.

For any one accident the aggregate amount of group accidental death and dismemberment insurance that may be paid may not exceed an amount equal to the employee’s basic insurance amount.
(c) The Office shall prescribe regulations providing for the conversion of other than annual rates of pay to annual rates of pay and shall specify the types of pay included in annual pay. For the purpose of this chapter, “annual pay” includes—
(1) premium pay under section 5545 (c)(1) of this title; and
(2) with respect to a law enforcement officer as defined in section 8331 (20) or 8401 (17) of this title, premium pay under section 5545 (c)(2) of this title.
(d) In determining the amount of insurance to which an employee is entitled—
(1) a change in rate of pay under subchapter VI of chapter 53 of this title is deemed effective as of the first day of the pay period after the pay period in which the payroll change is approved; and
(2) a change in rate of pay under section 5344 or 5349 of this title is deemed effective as of the date of issuance of the order granting the increase or the effective date of the increase, whichever is later, except, that in the case of an employee who dies or retires during the period beginning on the effective date of the increase and ending on the date of the issuance of the order granting the increase, a change in rate of pay under either of such sections shall be deemed as having been in effect for such employee during that period.