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FAQ: Coverage Options


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Can I add a Dependent to my WAEPA Certificate?

Yes. Simply use Additional Coverage to add a spouse or child. Just be sure to only complete the ‘Statement of Physical Condition’ section for the Dependent who’s being added and not for anyone who is already covered.

Additionally, a spouse can be covered for more insurance as an Associate Member and, usually, for considerably less. Unless a spouse is 10 or more years older than the Member, in which case, it would be more cost effective to have a spouse covered as a Dependent.

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How much insurance coverage is available to me?

You may apply for up to $1.5 million of group life insurance for yourself and up to $500,000 of dependent group life insurance for your spouse or $1.5million, if your spouse applies as an Associate Member.

Eligible, Dependent children may be insured for up to $25,000 depending on the level of spousal coverage selected, at least $100,000. Spousal coverage is limited to 50 percent of the member’s coverage.

 

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What type of insurance does WAEPA offer? And for what period?

WAEPA member coverage is term insurance, the term being to the age of 85. The rates change in 5 year increments and the maximum amount of coverage available begins to reduce starting at age 60.

There is no need to re-apply for coverage each year; it is automatically renewable on an annual basis.

View the Complete List of Rates for all ages and amounts of coverage available.

 

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Your website indicates that premiums are lower through WAEPA than through FEGLI at most available ages. What happens after age 60? Are your rates higher? How does this work in conjunction with coverage reductions based upon age?

Our rates change in 5 year increments and the maximum amount of coverage available begins to reduce starting at age 60. The rates are different because the coverages under the two plans is different. To view our complete list of rates for all ages and amounts of coverage available:

Please view our WAEPA vs. FEGLI Rate Comparison page.

The rate comparisons vary drastically based on the options you have with FEGLI. The best way to compare is to enter your comparison information here. This will give you the tailor fit answer for your exact needs.

 

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