(2) The full name, and age, of the Assignee must be stated. (3) The actual consideration for the assignment received from the assignee should be written in.Payment Of Premiums. All premiums are due on the Premium Due Dates shown in the Coverage Features. To fill out this form, first gather all necessary personal and organizational information beforehand. To find the forms that best suit your needs, please select the option that best describes you, your state and what type of policy you have with us. There are two types of life insurance under the FEGLI Program: Basic and Optional. Basic insurance pays out your annual rate of basic pay upon death. To update your beneficiaries, complete the Beneficiary Designation form and submit it to your Benefits S​pecialist.​​.