Waepa Life Insurance: Afghanistan Coverage Explained

WAEPA is a nonprofit association that has been providing life insurance exclusively to current and former Civilian Federal Employees and their families since 1943. WAEPA's Group Term Life Insurance is underwritten by New York Life Insurance Company, which is a recognised leader in the group insurance field. WAEPA's life insurance covers death from COVID-19 or a pandemic, as long as the original application did not include any material misrepresentations. However, it is unclear whether WAEPA's life insurance covers Afghanistan specifically.

Does Waepa life insurance cover death caused by COVID-19?

Waepa understands the fear and uncertainty that a pandemic such as COVID-19 can cause. If you are a Civilian Federal Employee, you may be concerned about whether your life insurance would cover death caused by the coronavirus.

Your Waepa Group Term Life Insurance policy does not include exclusions related to death from COVID-19 or a pandemic overall. So long as your original application did not include any material misrepresentations, a death caused by COVID-19 would be covered.

The two-year contestability period does not mean this policy won't pay claims within the first two years of being covered. If you answered the application questions honestly, you would have very little reason to be concerned about a COVID-19-related claim placed within that two-year period.

Waepa's Group Term Life Insurance is underwritten by New York Life Insurance Company, which has received the highest financial strength ratings currently awarded to any life insurer by all four major rating agencies: A.M. Best (A++), Fitch Ratings (AAA), Moody’s Investors Service (Aaa) and Standard & Poor’s (AA+).

If you have recently travelled to affected regions, underwriting guidelines as a result of COVID-19 are evolving as new research becomes available. For those applying for life insurance from Waepa for the first time, some questions in the application or underwriting process may refer to international travel and current health status, so that Waepa can best serve you throughout the underwriting process.

If you have specific questions about underwriting during this pandemic, please contact Waepa's Member Services team at (800) 368-3484, Monday-Thursday: 8:30 AM - 6:30 PM ET Friday: 8:30 AM - 5 PM ET.

What is the maximum coverage amount for Waepa life insurance?

Waepa offers current and former Civilian Federal Employees up to $1.5 million in Group Term Life Insurance. The rates are calculated across the entire group of the applicant and their colleagues, rather than for individuals, so the rates are exclusively priced. The rates are also determined by age and increase when the applicant enters a new five-year age group. The maximum amount of coverage begins to reduce at age 60, however, the premiums do not reduce.

For example, Courtney, who is currently 33 years old, pays $0.81 bi-weekly for a $50k policy. She will pay this rate from age 30-34. Upon turning 35, her rate will increase to $1.15 bi-weekly, which will be her rate from ages 35-39. At age 40, she will pay $1.62 bi-weekly.

Waepa's Group Term Life Insurance premium rates are structured in five-year age bands. Coverage automatically renews on an annual basis provided premiums are paid when due.

Applicants must be under 70 when applying, and coverage will carry up to the applicant's 85th birthday.

What is the process for applying for Waepa life insurance?

Waepa life insurance is exclusively for current and former Civilian Federal Employees. The application process is as follows:

• Complete the application online. This should take around 20 minutes. You will need to have important information available, including beneficiaries, Social Security Number, medical history, and payment info.
• Potential lab work. A representative will arrange a convenient time and location for lab work. Avoid strenuous exercise, salt, high cholesterol food, alcohol, caffeine, and nicotine consumption in the 12 hours prior to the appointment, and drink a glass of water just before the appointment.
• Attending Physician's Statement. Further medical information regarding your health history may be requested from your physician. In some cases, a specialist report may also be needed. This will be arranged with your convenience in mind and at no cost to you.
• Other requirements. You will be notified if any additional information is needed to assess your application, based on your medical history or the amount of insurance you are applying for. Arrange for the completion of any additional requirements as soon as possible.
• NYL Underwriter Decision. Once you've provided the necessary details, New York Life will decide whether to approve your application.
• Waepa Approval/Notification to Member. Waepa will send notification of your approval via email and advise of the initial premium payment. If you did not name a beneficiary when you applied, be sure to complete the Change of Beneficiary form included in your New Member Packet.

The average time from the receipt of your application to the receipt of your insurance certificate is 6 to 8 weeks.

Can I keep my Waepa life insurance coverage if I leave federal service?

Yes, you can keep your WAEPA life insurance coverage if you leave federal service. Once you are insured with WAEPA, your coverage is yours to keep, even if you are no longer a government employee or your employment status changes. Your coverage may continue until the age of 85 as long as premiums continue to be paid and the group policy remains in force.

As of 2022, former Civilian Federal Employees are eligible to apply for a new Group Term Life Insurance policy from WAEPA.

What is the difference between Waepa and FEGLI life insurance?

Waepa and FEGLI are both life insurance options for current and former Civilian Federal Employees. However, there are some key differences between the two in terms of coverage, cost, and benefits.

Coverage

Waepa offers up to $1.5 million in Group Term Life Insurance coverage, while FEGLI's coverage is capped at 5 times an individual's Federal salary. Waepa's coverage is also fully portable, meaning it can be retained even if the policyholder changes jobs or retires. In contrast, FEGLI coverage must be maintained for five consecutive years prior to retirement to continue.

Cost

On average, members who switch from FEGLI to Waepa save over $300 a year. Waepa's rates are calculated for the entire group, whereas FEGLI rates are based on individual salaries. Waepa members also typically receive a partial premium refund every year, which is not guaranteed with FEGLI.

Benefits

In addition to higher maximum coverage amounts and lower costs, Waepa offers several auxiliary benefits to its members, including a scholarship program, pre-retirement support, and a financial wellness program. Waepa also provides spouse and dependent coverage, with associate (spouse) membership eligible for up to $1.5 million in Group Term Life benefits and $6,500 in Short-Term Disability benefits. Dependent spouse plans are eligible for up to $500,000 in coverage, while dependent children plans offer up to $25,000. With FEGLI, dependent spouses are only eligible for up to $25,000 in coverage, and children's benefits are limited to $12,500.

Frequently asked questions