This is my archive
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What To Do When You Lose a Loved One
As the life insurance choice of over 46,000 Feds and their families, WAEPA is committed to providing our members with access to products and services that promote their health, welfare, and financial well-being. Keeping in line with that goal, WAEPA has developed a “What To Do When You Lose a Loved One” eBook to support our members who may be experiencing a loss and are responsible for managing their love ones’ affairs. This eBook is particularly helpful if you are serving as an executor of their estate.
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4 Tips for College Funding
According to U.S. News, the average cost of college tuition in 2018-2019 ranged from $9,716 to $35,676. These costs are based on whether the college was private or public and in- or out-of-state. While college tuition costs may seem daunting, funding some or all of your child’s college education can be achieved if you create a plan a stick to it. Start now by getting to know all your potential options for making that goal happen. Depending on your circumstances, any one or more of these paths could help fund a college education for your child.
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7 Essential Mobile Apps for Federal Employees
Most Civilian Federal Employees own smartphones loaded with apps designed to add value to their daily lives. For those looking for guidance on government information and services, there are a variety of mobile apps sponsored by the Federal government which provide relevant and accurate information. If you’re looking to simplify your life as a Fed, consider downloading the following mobile apps to bring important information about your career into the palm of your hand.
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Do You Have Enough Emergency Savings?
Life happens, and sometimes it brings a financial hardship to your doorstep, leaving you scrambling to find the cash needed to handle the unexpected and often, unwelcome situation. Many people turn to credit cards or loans to weather a financial storm. Twenty-three percent of Americans have zero savings to turn to in an emergency, according to a recent survey by Bankrate.com.
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Government Shutdown Q&A with Shane Canfield
WAEPA (Worldwide Assurance for Employees of Public Agencies), a nonprofit Voluntary Employee Benefits Association which offers Group Term Life Insurance* exclusively to Civilian Federal Employees, made headlines in January when they announced they were waiving January’s premiums for all their members, including those for Members not impacted by the partial Government Shutdown, which went on for 35 days from December 21, 2018 to January 25, 2019, and affected approximately 22% of Federal workers.
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What My Family Needs to Know at My Death
For many, acquiring a life insurance policy can be uncomfortable due to the morbid nature of the planning, and all of the considerations that come into play as part of the process. However daunting it may seem, though, it is a necessary tactic in the overall strategy you should have in place when working to help protect your family in case something happens to you. After you’ve established a policy, it is equally important to let your loved ones know about the structure of your coverage, and the documents they’d need to file a claim.
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Evaluating Life Insurance Coverage Outside of Open Season
While it’s not Open Season for Life Insurance, it’s a perfect time to evaluate your coverage. Life insurance is a vital tool when it comes to safeguarding your family’s future. How would your family’s income be impacted if you passed away? What if you receive a terminal diagnosis? What will your family need to retain financial stability? Fortunately, you can apply for WAEPA’s Group Term Life Insurance at any point in the year – meaning you don’t have to wait for an Open Season period to supplement or replace your coverage from FEGLI.
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Carrying Coverage with WAEPA is Easier Than Ever
In addition to the many benefits we offer our Members, Civilian Federal Employees insured under our Group Term Life Insurance* and Guaranteed Issue Life Insurance Programs enjoy the ease of carrying coverage from us. Part of the many factors that makes WAEPA unique are our convenient payment options.
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Should I Still Buy Life Insurance After Age 50?
Life insurance provides your dependents with financial support in the case of your death. If you’re over age 50 and retiring from a government job, your life insurance policy may need to be reevaluated. Perhaps you’ve paid off your mortgage, the kids are grown up and not dependent on you financially, or Medicare and Social Security are on the way. At this stage in life, it’s crucial to assess if and where life insurance fits into the bigger picture.
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Choosing the Right Executor for Estate Planning
Most individuals understand the fundamental importance of having a will, but few know that selecting the right executor to help manage their affairs is equally pressing. The executor, or personal representative, is tasked with various responsibilities including cataloging assets, paying debts and other bills, classifying your assets and allocating leftover finances to heirs. Picking the wrong person to manage your estate could result in tax problems, lengthy delays, and a will contest in the worst case scenario. To choose someone fit for the job, here are some of the factors to consider.