Do women pay too much for WAEPA, GEBA and FEGLI?
Federally employed women have three main choices for optional life insurance…. WAEPA, FEGLI Option “B” and GEBA.
All three are group plans and come with three major problems.
Healthy women do not receive the 30-40% discounts available on the open market.
While insurance companies offer different rate classes…..Preferred-Plus, Preferred, Select and Standard…. virtually all healthy, non-smokers can reduce these group premiums by 50-80%.
WAEPA, GEBA and FEGLI Option “B” all include dramatic price increases…. as much as 400% in only fifteen years.
Additionally, WAEPA and GEBA begin reducing death benefits at ages 60 and 65…further increasing the insurance costs.
These three plan designs result in women paying far more than they need to. They end up with greatly reduced benefits at much higher prices
FegliPLUS offers guaranteed level death benefits AND premiums for 20 or 30 years while including lump sum payouts for Critical Illness and Chronic Care conditions such as heart attack, stroke, cancer, kidney failure, MS, Parkinson’s, ALS, paralysis, dementia and Alzheimer’s.
With a $500,000 policy, our guaranteed twenty year savings for healthy federal employees…..male OR female….can exceed $150,000!
So, are YOU paying too much for your group insurance?
A 60 second inquiry could save you $100,000!
Our WAEPA comparisons include double indemnity for accidental death and dismemberment and their new Chronic Illness Rider.
Our GEBA comparisons include their 50% accidental death and dismemberment.