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FAQ: Life Insurance FAQ

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Who is eligible to apply?

This coverage is available to WAEPA members and their spouses under age 70. It is not available to the general public. WAEPA membership is available to current or retired civilian U.S. government employees, including non-appropriated fund (NAF) employees and U.S. Postal Service employees.

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How much life insurance do I need?

For your convenience, you can use our simple calculator to help determine how much coverage is right for you.

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How much coverage is available to me?

Depending upon your age, you can apply for up to $1,500,000 in group life insurance. Coverage for dependents is limited to 50 percent of the member’s coverage or $500,000, whichever is less. Your eligible children may be insured for up to $25,000. Beneficiaries will be paid an extra 20%, if an insured dies as a result of a covered accident.

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Will I lose this coverage, if I am no longer a government employee?

Once insured with WAEPA, this coverage is yours to keep. You won’t lose this coverage — even if you are no longer a government employee.

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How long can I keep this insurance?

Your coverage can continue to age 85, as long as premiums continue to be paid and the group policy remains in force.

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Can my benefit amount be changed over time?

You can reduce your coverage at any time … or apply to increase your benefits any time before you turn age 70.

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How much does it cost?

Premiums are based on your age and will increase as you enter a new five-year age band. To find the rate for your age, use our handy premium calculator or look at the rate chart.

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Are there any exclusions?

There is just one. Suicide is not covered for the first two years your policy is in place. In that event, premiums paid for the person’s coverage will be returned.

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Does this coverage come with a living benefit?

Yes. If diagnosed with a terminal illness and given a life expectancy of 12 months or less, you can access up to half your benefit amount.

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Can I pay through payroll deduction?

If you’re currently employed as a federal worker, your premiums can be automatically deducted from your paycheck. You’ll receive a direct deposit sign-up form, after your insurance coverage is issued. To begin automatic payments, just complete and submit this form to your federal payroll office. Your spouse and family members are not eligible for payroll deduction.

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How do I apply for coverage?

It’s easy.

1. Become a WAEPA member, if you are not one already.

2. Complete your insurance application online in a matter of minutes. There are no health questions to answer online. Instead, an underwriting professional will contact you for a discussion that works best with your busy schedule. You can also download, complete your application, and mail to the provided address- Depending on your age, the amount of insurance you’re requesting and your answers to health questions, a medical exam may be required. If so, it will be performed by a medical examiner appointed by WAEPA — at no charge to you. It takes up to 12 weeks to complete the application process and receive your Certificate of Insurance.

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What if I apply today and decide I don’t want this coverage later?

Once you receive your Certificate of Insurance, you’ll have 30 days to examine it in the privacy of your own home. If you’re not completely satisfied, simply return it, without claim, for a full refund of any premium paid.

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What is the Chronic Illness Rider?

This is an option you can add to your policy at the same time you apply for life insurance.  It allows you to access part of your benefit amount, if you become permanently chronically ill.  You can collect as much as $500,000 in tax-free benefits (consult a qualified tax advisor) over four years to use as you see fit. That could be to help with medical costs, ongoing living expenses, or to replace lost income.  This rider is available for an additional cost, and must be selected at the issue of your policy.

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