WAEPA's Favorable Policy Claims Experience Yields $7.5 Million in Refunds for Federal Employees
As a civilian federal employee, you probably are aware of your FEGLI life insurance options. Well, did you know that you can obtain economical group term life insurance through WAEPA?
WAEPA is a non-profit association founded in 1943, dedicated to serving the health, welfare, and financial well-being of civilian federal employees and their families.
WAEPA’s group term life insurance program offers flexible coverage options - compare these amounts to the FEGLI group coverage that may be available to you as a civilian federal employee:
- Coverage for You
- $25,000 up to $750,000
- Coverage for Your Spouse
- $10,000 up to $250,000
- Coverage for Your Children
- $1,000 to $25,000
At WAEPA’s website you can compare WAEPA and FEGLI premium rates, as well as the specific details of both plans of insurance.
Also, as a participating group life insurance program, WAEPA is announcing a refund to its members in 2014 for $7.5 million dollars as a result of favorable policy claims experience for the period 4/1/2013 through 3/31/2014. While premium refunds are not guaranteed, over $80 million in premium has been refunded to WAEPA members over the past two decades*.
The WAEPA group term life program is not endorsed by the federal government. Coverage is provided by Life Insurance Company of North America [Policy Form TL 004700 (WP)] and is subject to insurer approval with evidence of good health. This policy contains exclusions and benefits that may reduce by age. For costs and details of coverage, contact WAEPA or visit us at waepa.org.
To learn more about WAEPA and eligibility for our group term life program visit waepa.org. You can also call 1-800-368-3484 to speak with a WAEPA Representative, or you can email questions or requests for information to firstname.lastname@example.org.
*Based on historical policy data as of [3/31/2014]. Past performance is not a guarantee of future results.
This information is not intended for residents of Oregon or West Virginia.
Posted in Hear it from WAEPA