Did you know that WAEPA is just like FEGLI? To get a better understanding, let’s take a closer look.
Let’s start with a 55-year old woman with $500,000 in coverage. She will be paying $56 per day.
WAEPA goes up in price every 5 years JUST like FEGLI. Here is what happens at 60: You will be paying $88.62 per pay:
The price goes up again at age 65. At 65 you will pay $200 per pay. After 65 the $400,000 will drop.
Now let’s look at what happens when she turns 70. The 400k is no longer available. She will then have to pay $192 bi-weekly or $412 a month for $200,000.
While WAEPA is cheaper than FEGLI, it is still no comparison to a private policy since the cost continues to rise every 5 years. The best bet is always to get a private policy.
Here is a $400k, 20-year policy that is fixed for 20 years lasting until 75 years old. The cost on that is $65 per pay fixed.
If you would like to talk about your personal situation, please visit us at www.fedlegacy.com
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More and more people are retiring late… but not by choice.
One of the major reasons for this is because people simply wait too long to get set up right! Nothing more, nothing less.
If you are one of those people who PROCRASTINATE on taking the steps you need to Retire On Time, you could end up just like those older people you see with no money to pay the bills.
Retiring from the government on your own terms is not difficult. It just requires small tweaks to what you’re already doing… at no extra cost. So many clients walk into our meetings convinced they are headed for doomsday.
The truth is, they are already super close to where they actually need to be. All it takes is some simple guidance.
Get the help you deserve and retire ON TIME with confidence. Planning will save you YEARS, so you can retire with peace of mind.
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