How Do I Cancel Federal Life Insurance? 
You can voluntarily waive or cancel federal life insurance -LRB- FEGLI - Federal Employees ' Group Life Insurance Program -RRB- by completing a Life Insurance Election -LRB- SF 2817 -RRB- . On it , sign for the insurance you wish to keep ; the rest will be cancelled . If you cancel Basic , you will have automatically cancelled all forms of Optional insurance . 