Chelsey Tucker graduated with a Bachelor of History degree from Metropolitan State University in 2019. She now writes about insurance with her specialty being life insurance and has been quoted on Help Smart Phone and MEL Magazine.

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Dan Walker graduated with a BS in Administrative Management in 2005 and has been working in his family’s insurance agency, FCI Agency, for 15 years. He is licensed as an agent to write property and casualty insurance, including home, auto, umbrella, and dwelling fire insurance. He’s also been featured on sites like Reviews.com.

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Reviewed by Daniel Walker
Licensed Auto Insurance Agent

UPDATED: Aug 25, 2021

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Company Details
President: Douglas Goodell
Address: 433 Park Avenue
City: Falls Church
State: VA
ZIP Code: 22046
Phone Number: (703) 790-8010
Toll Free: ((888)) 353-1308
Year Founded: 1943
AM Best Rating: A++
Company Rating 0 (0 reviews)

WAEPA is one of the best insurance companies for federal workers who want cheap life insurance policies.

To be a member and buy WAEPA life insurance policies, you must be a federal worker. Federal employees can access life insurance quotes and other free financial services through the WAEPA website. 

WAEPA life insurance rates increase as you get older, especially when you choose to purchase a high coverage amount. Policyholders who are below 35 years old benefit more from WAEPA life insurance.

The main aim of WAEPA is to promote the financial well-being, welfare, and health of its members.

Keep reading our WAEPA life insurance review to get more information on the types of insurance coverage this company provides. Enter your ZIP code into our free quote comparison tool above to compare life insurance rates from different companies in your area.

What life insurance products does WAEPA offer?

The WAEPA life insurance company provides life insurance coverage and other types of insurance to federal employees and their family members. These products include group term life insurance, a chronic illness rider, and group short-term disability insurance.

Term Life Insurance

WAEPA’s term life insurance has coverage up to $1.5 million. The policy is portable, meaning you get to keep it if you leave your federal job, switch to another job, or retire. You can purchase this policy up to the age of 70 and have a 30-day free-look period.

Chronic Illness Rider

A chronic illness insurance rider allows you to access your death benefit early in case you are diagnosed with a severe chronic illness. This rider will increase your rates, but it may be helpful if you need financial assistance during a serious illness.

WAEPA allows you to add this rider to your group term life insurance to access half of your death benefit — up to $500,000 — if you are diagnosed with a permanent chronic illness. This rider can help WAEPA members and their families pay hospital bills and other expenses.

If you don’t ever need to take advantage of this rider, your beneficiary will receive your full death benefit as usual.

Short-Term Disability Insurance

A temporary injury or illness may force you out of your job and stop you from being paid by your employer. A short-term disability insurance policy allows you to continue being paid while recovering from a short-term injury or illness.

WAEPA’s short-term disability insurance policy allows you to receive a monthly check for up to six months. You can apply for benefits up to 60% of your monthly income with a limit of $6,500 per month. You must be between 18 and 65 and work at least 30 hours per week.

This supplement can help you and your family survive under such situations and replace your lost income during the recovery period. Short-term disability insurance has other benefits, including the choice of a 14- or 30-day elimination period.

Short-term disability insurance policies offered by WAEPA have tax-free benefits, which means that you won’t have to pay taxes on your monthly checks as long as you pay your premiums.

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How much is WAEPA life insurance?

The primary determinants of WAEPA life insurance rates are your age and the amount of coverage you want. If you choose to add a chronic illness rider, your premiums are likely to increase. Let’s take a look at WAEPA monthly rates for a $250,000 term life policy:

WAEPA Group Term Life Insurance Monthly Rates, $250,000
AgeGroup Term Life Insurance Monthly Rate without Chronic Illness RiderGroup Term Life Insurance Monthly Rate with Chronic Illness Rider
25-29$8.75$9.17
30-34$8.75$9.17
35-39$12.50$13.13
40-44$17.50$19.58
45-49$30.00$34.38
50-54$45.83$55.83
55-59$75.83$92.92
60-64$120.00$148.13
65-69$270.83$345.21
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People over the age of 69 can still purchase coverage, but the coverage amounts are a maximum of $200,000.

Policyholders below 35 years old tend to pay lower rates compared to older policyholders. As you get older, your monthly premiums increase because you are determined to be a greater potential liability for the company.

What are WAEPA’s industry ratings?

WAEPA life insurance ratings are very good. A.M. Best has rated the company an A++, Moody’s has rated it Aaa, and S&P has rated it AA+.

The A.M. Best rating means that the company has superior financial stability and can easily meet its financial obligations, such as paying claims. The S&P and Moody’s ratings show that WAEPA life insurance company has little credit risk.

WAEPA has an A+ rating from the Better Business Bureau, but it does not have any customer WAEPA life insurance reviews on the page.

How can I get quotes and file claims?

To get WAEPA life insurance quotes, you can use the company’s website. An easy tool allows you to enter your age, coverage amount, spousal coverage, riders, and payment frequency. This gives you an easy quote right on the same page.

WAEPA also lists sample rates for its short-term disability insurance policy on its website. If you need more in-depth information, you can contact WAEPA directly.

To start your claims process with WAEPA, you can call (800) 368-3484 or email [email protected]

To file a death claim, you must submit a copy of the death certificate, W-9, and a completed death claim form, which can be sent to WAEPA, 433 Park Avenue, Falls Church, VA 22046.

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How can I contact WAEPA?

You can contact WAEPA by calling them directly at (888) 353-1308 Monday – Thursday from 8:30 AM to 6:30 PM EST or on Friday from 8:30 AM to 5 PM EST. In addition, you can contact the WAEPA company using the email address [email protected] or the contact form on the website.

Should I buy WAEPA life insurance?

If you are a federal employee between 25 and 50 years old, you may want to consider buying WAEPA life insurance policies, because you will likely be able to find affordable WAEPA life insurance rates.

WAEPA also allows you to insure your spouses and dependents. While the company’s products are simple, they will meet many people’s needs.

However, if you are above 50 years old, you may be able to find affordable life insurance rates elsewhere. You should compare different insurance companies and determine which one will better suit your needs.

Now that you’ve read this WAEPA life insurance review, let us help you identify the best insurance company for your needs and budget. Compare quotes from several companies in your area by entering your ZIP code into our free quote comparison tool below.

WAEPA Life Insurance Review [2021] Additional Information

 

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