You can cancel your FEGLI at any time, whether you’re a current or retired federal employee. If you’re an employee, start by filling out this form, Life Insurance Election SF 2817, and send it to your human resources offices. You may opt-out as follows: Customize your policy by signing only the required coverages Sign in Box 5 to terminate all coverages However, it’s impossible to cancel or reduce your Basic, Option A, or Option B plan after transferring your life insurance policy to another entity.
To cancel or reduce coverage while retired, you should mail a signed request to OPM's Retirement Office.