Do women pay too much for WAEPA, FEGLI and GEBA?
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.
Commercial insurance companies offer different rate classes…..Preferred-Plus, Preferred, Select and Standard.
Healthy women do not receive the 30-40% discounts available on the open market.
Virtually all healthy, non-smokers can now reduce these group premiums by 50-80%.
Healthy federally employed women need to take advantage of AND get credit for their healthy lifestyle.
WAEPA, FEGLI Option “B” and GEBA also 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.
Covered conditions may include heart attack, stroke, cancer, kidney failure, MS, Parkinson’s, ALS, paralysis, dementia and Alzheimer’s.
With a $500,000 policy, guaranteed 20 year savings for healthy federal employees…..male OR female…. can exceed $100,000!
Are YOU paying too much for your group insurance?
WAEPA comparisons include double indemnity for accidental death and dismemberment and their new 50% Chronic Illness Rider.
GEBA comparisons include their 50% accidental death and dismemberment.