Federal Employees to Receive 25 Percent Premium Refund

These are hard times for federal employees. A multi-year pay freeze, rumors of furloughs and discussions on reducing existing federal benefits is the reality federal employees and their families face. Now, more than ever, it is important to find ways to save your hard earned money.

Even in these very difficult economic times, WAEPA, a nonprofit association, announced a 25 percent life insurance premium refund. This is the fifteenth refund since 1996, and over these years, WAEPA policyholders have received over $58 million in returned premiums. In comparison, FEGLI has never declared a premium refund.

WAEPA, which was founded in 1943, provides group term life insurance at rates that are significantly less than the federal program (click here to compare rates).

Additionally, WAEPA offers a wide range of coverage options for federal employees ($25,000 up to $750,000) and their spouses ($10,000 up to $250,000). As a federal employee, your FEGLI Basic coverage is determined by your annual pay, and the maximum dependent spousal coverage under FEGLI is $25,000.

The bottom line is that WAEPA enables federal employees and their families to purchase better life insurance at far better prices. As a superior alternative, or supplement to FEGLI, WAEPA gives its members more coverage, more benefits and greater flexibility - yet costs much less.

You can download an application here, or call toll free 1-800-368-3484. (As a nonprofit association, WAEPA does not use agents or telemarketers). Questions or requests for information can also be emailed to WAEPA. Act Today - Let WAEPA protect your entire family and become eligible for future WAEPA premium refunds.

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