About Us Famous & Spang Associates a full-service, generalist insurance agency representing many top rated insurance carriers, was founded in Aberdeen, Maryland circa 1909.

Life Insurance Premiums Are Changing

Life Insurance Premiums Are Changing

Rates are going up for Basic, and in some cases for the optional forms of insurance too. In other cases, they’re staying the same or being reduced. 

These changes reflect updated mortality and claims rates in each FEGLI category. The legislative structure of FEGLI assumes that premium rates are set for each age band independently of the other bands so that each band is financially self-supporting. The government pays one third of the premium cost for Basic and the employee pays two thirds. The employee or retiree pays the full cost of optional insurance.

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Contact Famous & Spang Insurance

As an independent agency, we are here to help you find the right coverage.

Famous & Spang Insurance

Aberdeen, MD

200 W. Bel Air Ave.
Aberdeen, MD 21001

Phone: 410-272-2300
Text: 410-449-7540
Fax: 410-575-6927

We write insurance solutions throughout the Mid-Atlantic Region and beyond.