Dedicated to Civilian Federal Employees since 1943

Dedicated to Civilian Federal Employees since 1943

FAQ: General


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How is WAEPA rated for financial soundness?

WAEPA itself, as a nonprofit associate, is not rated. New York Life Insurance Company underwrites WAEPA’s insurance program.

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How long has WAEPA been in existence?

Formed in 1943, WAEPA celebrates its 75th year of existence in 2018.

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Is WAEPA connected to the U.S. government?

No. WAEPA is a non-profit association governed by a board of U.S. government employees who serve without compensation. The organization is administered by a professional staff.

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May I keep my WAEPA group life insurance coverage if I leave government employment?

Yes. Once insured with WAEPA, there will be no change to your coverage due to a change in your employment status. Your coverage may continue until age 85.

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What is group term life insurance?

Group Term life insurance is one-year renewable term insurance.  Coverage is issued by an insurance carrier (New York Life Insurance Company) to a policy holder (WAEPA) for the purpose of insuring the policyholder’s members.  The Economies of scale provide for competitive premiums.

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As long as the premiums are paid on time, can WAEPA cancel the policy for any reason?

No. Other than non payment, or the cancellation of WAEPA’s group master policy, the only other possible way for your coverage to be cancelled is by you officially requesting termination or by you reaching the age of 85; end of the coverage term.

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Can WAEPA at any time require a physical examination to either continue to the plan to keep current benefits?

As long as you maintain your premium payments and your coverage is not terminated due to non-payment, there would be no need for a new physical exam. However, if you submit an application for more coverage than you already have with WAEPA, your application will be subject to a medical underwriting process, which may require an exam.

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How do I cancel my WAEPA policy?

We just need a signed and dated request, so that we have your authorization to terminate your coverage. Please include your Certificate number and specify that you wish to cancel your coverage outright. Upon completion you need to mail this to:

WAEPA
Membership Services
433 Park Avenue
Falls Church, VA  22046

 

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

WAEPA member coverage is Group Term Life Insurance, the term being to age 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 reapply for coverage each year; it automatically renews annually.

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

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Are government contractors eligible to purchase life insurance from WAEPA?

Only civilian federal employees/retires and their dependents can purchase WAEPA coverage.

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What is the maximum amount of coverage WAEPA provides?

If you are less than age 60, you may apply for up to $1,500,000 of group life insurance for yourself and up to $500,000 of dependent group life insurance for your spouse. The maximum amount of coverage available begins to reduce at age 60 and above.

Please view our complete list of rates for all ages and amounts of coverage available.

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Your website indicates that premiums are lower than FEGLI. 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. View our full rate chart here.

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

Compare the complete WAEPA vs. FEGLI policy comparison.

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How do I file a claim?

To begin the claims process, the insurance company requires notification from a person (spouse, relative, friend, etc) that the insured has died. This can be done either by phone (1-800-368-3484) or email (info@waepa.org).

Please be prepared to provide the required information when reporting the death of a member/dependent. We require the member or dependent’s name, certificate number, date of death, manner of death, notifier’s name, phone number and the notifier’s relationship to the member/dependent. A letter of instructions and a claim form will then be mailed or emailed to the beneficiary to be completed and returned to WAEPA, along with a certified certificate of death and any other requested information. This information would then be forwarded to our insurance carrier to process the claim.

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Is there a “waiting period” for benefits to be payable?

There is no “waiting period” for benefits to be payable. If an insured dies within the first two years of coverage, the full benefit is paid, provided death is not a result of suicide or the application does not contain incorrect medical/health information (misstatements).

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