U.S. flag
          An official website of the United States Government  Main navigation
  

        

              Data Initiatives
                              Regulations
                                                                        Row 1
                                              FAR FAR
                              Smart Matrix Smart Matrix
                              Chapter 99 (CAS) Chapter 99 (CAS)
                              Row 2
                                              DFARS DFARS
                              DFARSPGI DFARSPGI
                              AFARS AFARS
                              DAFFARS DAFFARS
                              DAFFARS MP DAFFARS MP
                              DARS DARS
                              DLAD DLAD
                              NMCARS NMCARS
                              Row 3
                                              SOFARS SOFARS
                              TRANSFARS TRANSFARS
                              AGAR AGAR
                              AIDAR AIDAR
                              CAR CAR
                              DEAR DEAR
                              DIAR DIAR
                              DOLAR DOLAR
                              Row 4
                                              DOSAR DOSAR
                              DTAR DTAR
                              EDAR EDAR
                              EPAAR EPAAR
                              FEHBAR FEHBAR
                              GSAM/R GSAM/R
                              HHSAR HHSAR
                              HSAR HSAR
                              Row 5
                                              HUDAR HUDAR
                              IAAR IAAR
                              JAR JAR
                              LIFAR LIFAR
                              NFS NFS
                              NRCAR NRCAR
                              TAR TAR
                              VAAR VAAR
                              Tools
                                                                        Archives
                              Smart Matrix
                              Regulations Search
                              Acquisition Regulation Comparator (ARC)
                              Policy Network
                                                                        CAOC
                              CAAC
                              FAR Council
                              ISDC
 Breadcrumb
        Home
                            Regulations
                            LIFAR
                            2102.101   Definitions.
        
                  HTML
LIFARPart Number: 2102
        
                  

                                
                  
        Life Insurance Federal Acquisition Regulations
« PreviousNext »
2102.101 Definitions.       In this chapter, unless otherwise indicated, the following terms have the meaning set forth in this subpart.          *Contract* means a policy or policies of group life and accidental death and dismemberment insurance to provide the benefits specified by 5 U.S.C. chapter 87.          *Contractor* means an insurance company contracted to provide the benefits specified by 5 U.S.C. chapter 87.          *Contract price* means premium.          *Contract year* means October 1 through September 30. Also referred to as contract term.          *Director* means the Director of the Office of Personnel Management.          *Employees' Life Insurance Fund* means the trust fund established under 5 U.S.C. 8714.          *Enrollee* means the insured, or, where applicable, the assignee.          *FEGLI Program* means the Federal Employees' Group Life Insurance Program.          *Fixed price with limited cost redetermination plus fixed fee contract* means a contract which provides for:                    (1)  			A fixed price during the contract year with a cost element that is adjusted at the end of the contract term based on costs incurred under the contract; and          (2) A profit or fee that is fixed at the beginning of the contract term. The amount of adjustment for costs is limited to the amount in the Employees' Life Insurance Fund. The fee will be in the form of either a risk charge or a service charge.          *Grace period* means 31 days from and including the payment due date of the first business day of the month.          *Insurance company*, as provided in 5 U.S.C. 8709, means a company licensed to transact life and accidental death and dismemberment insurance under the laws of all the States and the District of Columbia. It must have in effect, on the most recent December 31 for which information is available to the Office of Personnel Management, an amount of employee group life insurance equal to at least 1 percent of the total amount of employee group life insurance in the United States in all life insurance companies.          *OPM* means the United States Office of Personnel Management.          *Premium* means an amount intended to cover the estimated annual benefits and administrative costs plus a fixed service or risk charge, made available to the Contractor in 12 equal installments. At the end of the contract year, a reconciliation of premiums, benefits, and other costs is performed as a limited cost redetermination.          *Reinsurer* means a company that reinsures portions of the total amount of insurance under the contract as specified in 5 U.S.C. 8710 and is not an agent or representative of the Contractor.          *Subcontract* means a contract entered into by any subcontractor that furnishes supplies or services for performance of a prime contract under the FEGLI Program. Except for the purpose of FAR subpart 22.8 - Equal Employment Opportunity, the term subcontract does not include a contract with a reinsurer under the FEGLI Program.          *Subcontractor* means any supplier, distributor, vendor, or firm that furnishes supplies or services to or for a prime Contractor under the FEGLI Program contract. Except for the purpose of FAR subpart 22.8 - Equal Employment Opportunity, the term subcontractor does not include reinsurers under the FEGLI Program.    **Parent topic:**  Subpart 2102.1 - Definitions
« PreviousNext »
FavoriteX

      LIFAR Parts
            Regulations Lifar Menu
  

        
      Index
                              2100
                              2101
                              2102
                              2103
                              2104
                              2105
                              2106
                              2109
                              2110
                              2114
                              2115
                              2116
                              2122
                              2124
                              2128
                              2129
                              2131
                              2132
                              2133
                              2137
                              2143
                              2144
                              2146
                              2149
                              2152
                              2153

      ×
        Data Initiatives
                                                              Regulations
                                                              Tools
                                              Archives
                                                              Smart Matrix
                                                              Regulations Search
                                                              Acquisition Regulation Comparator (ARC)
                                                              Policy Network
                                              CAO.gov
                                                        CAO Home
                                                              Council Member
                                                                    Large Agencies
                                                              Small Agencies
                                                              Council Defining Documents
                                                                    CAOC History
                                                              CAOC Charter
                                                              Civilian Agency Acquisition Council (CAAC)
                                                              Federal Acquisition Regulatory Council
                                                              Interagency Suspension and Debarment Committee (ISDC)
                                                              Search
 ˄ Top Sign up for FAR News

                            Share the FAR
                        Upper Footer Menu
  

        
      Useful Links
                              FAR Resources
                              Training
                              Acquisition Systems
            
                            **Contact Us/FAQs**
                        **Privacy and Security Notice**
                        **Accessibility Aids**
                        **Last Updated 03/29/2024**
 ACQUISITION.GOV
                An official website of the General Services Administration About GSA
                Accessibility support
                FOIA requests
                No FEAR Act data
                Office of the Inspector General
                Performance reports
                Privacy policy Looking for U.S. government information and services?
            Visit USA.gov
 «
    
    Tt