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.
Healthy women do not receive the 30-40% discounts available on the open market.
Healthy non-smokers pays the same as diabetic smokers.
Why would a healthy women relinquish her healthy lifestyle credits back to the insurance company?
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 and GEBA include dramatic premium increases…. as much as 400% in only fifteen years
FEGLI Option B premiums can increase up to 500% in only 15 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, coma, Parkinson’s, ALS, paralysis, dementia and Alzheimer’s.
With a $500,000 policy, our guaranteed twenty year savings for healthy SeniorFeds…..male OR female….can exceed $150,000!
Are YOU paying too much for your group insurance?
Our WAEPA comparisons include double indemnity for accidental death and dismemberment and their new 50% Chronic Illness Rider.
Our GEBA comparisons include their 50% accidental death and dismemberment.