If you’re working in the public sector, you’re likely looking at many factors that may be involved in what you can choose for your health insurance. How do you look at the options between WAEPA vs. FEGLI? Which one is going to be better for your needs? Is it a better idea for you to also get private insurance to supplement it? Do you even need life insurance? What are you looking at here and how much should you spend?
The fact is, WAEPA and FEGLI are two different types of life insurance that offer similar things. The terms are going to be different based on what it is that you’re doing and what your employment is, but it basically comes down to the rates that you want to pay. In some cases, FELGI is going to be more affordable for you and your spouse. In other instances, especially if you’re the only one being covered, WAEPA is going to be your better option. You have to use calculators and other resources to really get a handle on what you want and need to get with it.
Talk with your insurance professional and your investment professionals, and maybe even a lawyer, to figure out which of these is right for you. There’s a lot of information to go through, but you will be able to sort out which is going to be most affordable or best for everything that you’re trying to take care of. Do some research to see what it is that you want to get and then figure out what is going to give you the best coverage and the biggest safety net. In the end, that’s going to be your better choice and the best way to take care of things.