Premium Refund Program
While premium refunds are not guaranteed each year, since 1996, WAEPA has proudly refunded over $100 Million to its members.
Based on WAEPA’s performance in the previous year, our board of directors evaluates our earnings and determines if a refund is possible. Refunds are based primarily on the claims ratio for each fiscal year vs. new business vs. the overall market performance.
Premium refunds are evaluated on a yearly basis and are primarily based on the annual claims ratio and solely on your Group Term Life Insurance policy, and not a Group Short-Term Disability Insurance policy you may have in place.
If a refund is awarded, members receive their payment in the form of a check.
Despite fluctuations, WAEPA has awarded a refund 25 of the past 26 years. When was the last time FEGLI gave you money back?
Continued growth is an important factor in the decision to continue our annual refund – as such, we encourage you to mention the benefits of WAEPA to your coworkers. Refer your friends or colleagues who work as Civilian Federal Employees and get rewarded.