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When a Rainy Day Fund is Not Enough

Disability Insurance

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4 min Category: Disability Insurance

Have you ever heard that the only sure thing in life is change? There’s no better example than these current times to tell you that it’s true.

That is why the best advice is to be cautious with money and expenses in case of an economic downturn. When we are spending, buying, and getting into debt, we don’t consider the importance of saving a portion of our income to create a reserve fund.

While it won’t necessarily prevent economic crises, it will help overcome them, especially when diversifying. Even though you may plan to use your reserve funds to help meet medium or long-term goals, such as a celebration, vacation, or continuing education, there are also unanticipated events, such as repairing an appliance, which can require a significant amount of money. For these situations, there is nothing better than an emergency fund.

While savings can help meet personal goals, they are even more important when it comes to your health. An illness or accident can happen at any moment, so it’s extremely important to maintain your income should you experience a medical emergency.

The expenses for an unpredicted health event can rise and accumulate quickly. Did you know that your federal employee benefits don’t include short-term disability coverage? With WAEPA Group Short-Term Disability Insurance, you can continue to receive a paycheck.

Is it for you?

This protection is reserved for all eligible WAEPA members who are full-time, non-seasonal Civilian Feds, ages 18 to 69, that may suffer a temporary, covered illness or injury that keeps them out of work, and will replace their income for up to six months.

Up to $6,500 in Monthly Benefits

All WAEPA members are eligible to apply for benefits up to $6,500 a month to help replace income while recovering from a covered short-term disability. This is limited to up to 60% of your average monthly income. The supplemental paycheck will help create a safety net for you and your family.

How Do You Apply?

It’s easy. You can apply online. In some cases, a medical exam and/or copies of medical records may be required.

Decide When the Coverage Begins

Choose a 14 or 30-day elimination period when you apply. This means you only have to wait 14 or 30-days after being disabled before benefits are paid out.

Is Short-Term Disability Insurance portable if you leave federal service?

Yes, provided you are transitioning to a job actively working at least 30 hours per week and will have a W-2 from your new job.

Tax-Free benefits

Benefits are paid directly to you and are usable as you see fit. If you pay the monthly premiums yourself, benefits are tax-free*.

*Consult a tax advisor regarding your specific financial circumstances

Think for a moment that you are responsible for a loved one who has a chronic condition or illness involving an unforeseen physical or emotional burden. It becomes necessary to plan this care well in advance.

As a living benefit, a Chronic Illness Rider offers the means to get you through hardships. You and your spouse, under age 65, are eligible to apply, and coverage can last until age 80. You can also double your protection under a single policy by including this rider with your application for WAEPA Group Term Life Insurance.


  • Help take care of extensive medical bills
  • Can be used however the recipient chooses
  • Pre-death benefits for unexpected, covered illnesses

How Does a Chronic Illness Rider Work?

A Chronic Illness Rider allows you to leverage your life insurance coverage to help mitigate the costs associated with chronic illness needs.

Need more information?

You can explore our resources through the following webinars:

Preparing for Financial Emergencies

Unprecedented illnesses have increased uncertainty regarding finances. Don’t let a health crisis become a financial crisis.

  • Where are we today?
  • Using debt in emergencies
  • Loan options
  • Avoiding emergencies
  • Appropriate amount of debt
  • Estate and insurance documents

How Much Do You Know About Short-Term or Long-Term Disability?

Most employees have little knowledge of what would happen if they became seriously ill and unable to work. This webinar covers pertinent Federal employment information related to:

  • Sick leave accrual and use
  • Advanced sick leave
  • Participation in a leave bank
  • Leave Without Pay
  • Private short-term disability insurance
  • Long-term disability (disability retirement)
    • Requirements
    • Benefit

Planning for retirement is important. Make sure you are prepared before reaching that point in your career and life.

Life Insurance 101

Determining needs and evaluating options for yourself and your family, whether you are looking to buy for the first time or already have a policy.

  • How much coverage do you need?
  • How long should you have it?
  • What type should you have?
  • Pros, cons, and pitfalls
  • Implications on coverage due to severe illness, including the impact on applying, determining need, and paying for coverage through adverse scenarios.

Join WAEPA Today!

You can apply for Group Term Life Insurance any time of the year (no Open Season or qualifying life event required). After more than 75 years of serving Civilian Federal Employees, WAEPA is the life insurance choice of over 46,000 Feds and their families. Calculate how much coverage you should consider and apply today.

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