Worldwide Assurance For Employees of Public Agencies
WAEPA is a nonprofit membership association, founded in 1943 and headquartered in Falls Church, VA, that provides portable Group Term Life Insurance and Short-Term Disability Insurance exclusively to current and former U.S. Civilian Federal Employees and their families, underwritten by New York Life.
- Company typePrivate
- Founded1943
- HeadquartersFalls Church, United States
- Headcount11–50
- GTM typeB2C
- OfferingServices
What Worldwide Assurance For Employees of Public Agencies does
WAEPA (Worldwide Assurance For Employees of Public Agencies, Inc.) is a nonprofit membership association founded in 1943 and headquartered in Falls Church, Virginia, that exclusively serves current and former U.S. Civilian Federal Employees and their families. Its core products are Group Term Life Insurance (up to $1.5 million in coverage, age-banded five-year pricing) and Group Short-Term Disability Insurance (up to $6,500 per month for up to six months), supplemented by riders (Chronic Illness Rider, Automatic Benefit Increase Rider), Guaranteed Issue coverage for new federal hires, Associate Membership covering spouses independently, and ancillary member benefits such as premium refunds, scholarships, and free financial planning. All policies are fully portable, meaning coverage persists after members leave federal service (extending to age 85), which is the central point of differentiation against FEGLI — the Federal Employees' Group Life Insurance program.
Insurance risk is carried by New York Life Insurance Company, which underwrites WAEPA's group policies (Policy Forms GMR/G-30280-0 and G-30281-0). The technology stack is explicitly modest: a web-based application portal, a member portal for self-service account management, online quote and comparison calculators, and a resource library of 147 educational assets. No proprietary technology, AI/ML capabilities, or data flywheels are disclosed.
The business model is subscription-recurring premiums on insurance products, with GTM executed as direct-to-consumer plus community-led acquisition: word-of-mouth among federal employees, SEO-targeted comparison content (WAEPA vs FEGLI), email newsletters, organic social on LinkedIn/Twitter/Facebook/YouTube, and partner-hosted webinars on FERS retirement and workforce transition topics. Customer segments are the primary federal civilian employee, former employees/retirees (for portability), and family members (spouses and dependents), priced on age-banded monthly premiums with an average stated savings of $300+ per year vs FEGLI for switchers. As a nonprofit, WAEPA does not have external shareholders and is not subject to typical PE/VC exit dynamics.
Worldwide Assurance For Employees of Public Agencies firmographics
Firmographics- Name
- Worldwide Assurance For Employees of Public Agencies
- Legal name
- Worldwide Assurance for Employees of Public Agencies, Inc.
- Website
- https://waepa.org
- Company type
- Private
- Founded year
- 1943
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- WAEPA is a nonprofit membership association, founded in 1943 and headquartered in Falls Church, VA, that provides portable Group Term Life Insurance and Short-Term Disability Insurance exclusively to current and former U.S. Civilian Federal Employees and their families, underwritten by New York Life.
- Ownership category
- akta.pro rank
Worldwide Assurance For Employees of Public Agencies industry classification
Industry- Product category
- Group Life Insurance
- NAICS
- Direct Life Insurance Carriers (524113), Other Insurance Funds (52519)
- SIC
- Life Insurance (6311), Accident & Health Insurance (6321)
- akta.pro primary industry
- Group Term Life Insurance (FSAIAAAJ)
- akta.pro secondary industry
- Group Disability Income Insurance (Employer-Sponsored) (FSAIAIAB)
Keywords
Where Worldwide Assurance For Employees of Public Agencies is headquartered
LocationHeadquarters
- HQ city
- Falls Church
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Worldwide Assurance For Employees of Public Agencies business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Marketing or Sales, Technology or R&D, Others
Revenue model
- Group Term Life Insurance Premiums: WAEPA generates revenue through membership fees and insurance premiums for Group Term Life Insurance coverage. Eligible members (current and former Civilian Federal Employees) pay age-banded premiums for coverage up to $1.5 million. Coverage is underwritten by New York Life Insurance Company.
- Short-Term Disability Insurance Premiums: WAEPA offers Group Short-Term Disability Insurance providing up to $6,500 monthly in paycheck protection for up to six months. Members pay recurring premiums for this coverage.
- Associate Membership: Spouses of eligible members can obtain their own WAEPA policy through Associate Membership, applying for up to $1.5 million in coverage independently, generating additional premium revenue.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Group Term Life Insurance - Age 44 example: $250,000 coverage for $14.70/month |
| Subscription | Monthly | Group Short-Term Disability Insurance - Up to $6,500/month for up to six months |
| Subscription | Monthly | Guaranteed Issue Group Term Life Insurance - Up to $100,000 for new federal employees |
| Subscription | Monthly | Chronic Illness Rider - Living benefit rider |
| Subscription | Monthly | Automatic Benefit Increase Rider - Coverage increase of $25,000/year for up to 10 years |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels6 records
Worldwide Assurance For Employees of Public Agencies product offering
Product offeringCore offering
WAEPA is a nonprofit membership association that provides portable Group Term Life Insurance (up to $1.5 million) and Group Short-Term Disability Insurance (up to $6,500 monthly for six months) exclusively to current and former Civilian Federal Employees and their families. Policies are underwritten by New York Life Insurance Company and remain in force even after the member leaves federal service, distinguishing the coverage from FEGLI.
Product overview
WAEPA offers a portfolio of group insurance products exclusively for current and former Civilian Federal Employees. The core offerings are Group Term Life Insurance (up to $1.5 million) and Short-Term Disability Insurance (up to $6,500 monthly), both underwritten by New York Life Insurance Company. These are complemented by add-on riders including a Chronic Illness Rider (living benefit) and an Automatic Benefit Increase Rider. The company also provides Guaranteed Issue Group Term Life Insurance for new federal employees and Associate Membership for spousal coverage. Member benefits include free financial planning and scholarship programs. All coverage is portable, meaning members can retain their insurance even after leaving federal service.
Differentiator
Problem solved
Functional benefit
Products and services
- Group Term Life Insurance Portable group term life insurance coverage up to $1.5 million for current and former Civilian Federal Employees, with five-year age-band monthly pricing; coverage remains in force after leaving federal service. Underwritten by New York Life Insurance Company.
- Group Short-Term Disability Insurance Group short-term disability insurance providing up to $6,500 monthly in paycheck protection for up to six months, replacing lost income when a member is unable to work due to a covered illness or injury. Available to eligible Civilian Federal Employees.
- Guaranteed Issue Group Term Life Insurance New federal employee offering that provides up to $100,000 in coverage without medical exams or blood tests when applied within the first year of federal employment. No health questions required for this benefit.
- Associate Membership Spousal membership tier that allows eligible spouses of WAEPA members to apply for and hold their own WAEPA policy with up to $1.5 million in coverage, independent of the federal employee's policy.
Quantifiable outcome
- Members who switch from FEGLI save over $300 per year on average
- +2 more outcomes
Companies that use Worldwide Assurance For Employees of Public Agencies
Customer profileNamed customers2 records
Segments3 records
Ideal customer profiles3 records
Worldwide Assurance For Employees of Public Agencies technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Worldwide Assurance For Employees of Public Agencies partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- New York Life Insurance CompanycoreNew York Life Insurance Company is the underwriter for WAEPA's Group Term Life Insurance policies. Located at 51 Madison Ave. New York, NY 10010, New York Life is one of the largest and most established life insurers in the United States. WAEPA policies are underwritten on Policy Form GMR/G-30280-0; G-30281-0. New York Life is domiciled in New York and licensed to transact business in all 50 United States, the District of Columbia, Puerto Rico and Canada.
Scale indicators4 records
Recent moves5 records
Expansion highlights4 records
Worldwide Assurance For Employees of Public Agencies competitors and assessment
Company assessmentDirect peers
- Government Employees Benefit Association (GEBA): Member-owned nonprofit association offering insurance and benefit products to federal employees. Mirrors WAEPA's association-based distribution model and federal-employee niche.
- FEGLI (Federal Employees' Group Life Insurance): OPM-administered default group life program for federal employees. WAEPA's primary comparison anchor and the alternative product on its WAEPA-vs-FEGLI comparison calculator that drives conversion.
- Armed Forces Benefit Association (AFBA): Member-based association offering group life and supplemental insurance to military and federal employees. Directly comparable distribution model and federal/military employee segment.
- Navy Mutual Aid Association: Nonprofit membership association providing life insurance and financial services to Navy/Marine Corps officers and their families. Closest structural analog to WAEPA's nonprofit-association model serving a defined federal/military cohort.
Broad incumbents
- New York Life Insurance Company: WAEPA's exclusive underwriter and one of the largest U.S. life insurers. While WAEPA leverages NY Life's balance sheet to issue coverage, NY Life itself competes broadly in group and individual life across the U.S.
- MetLife: Large U.S. group life, disability, and benefits carrier with a national broker distribution model. Provides the broad-incumbent benchmark for WAEPA's group life and group disability product categories.
- USAA: Member-owned financial services organization serving military members and families. Comparable niche-member-driven model and trust-based acquisition, scaled much more broadly across P&C, banking, and investments.
- Unum Group: Leading U.S. specialist in group disability and group life benefits, including group STD. Direct benchmark for WAEPA's short-term disability line, though Unum operates at broader scale through employer-sponsored channels.
- Prudential Financial: Major U.S. life insurer and group benefits provider (life, disability, retirement). A broad-market peer on the group life and disability products WAEPA distributes to federal employees.
Emerging players
- Bestow: Digital-first direct-to-consumer term life insurer offering fully online underwriting and instant-issue coverage. Emerging competitive threat to traditional acquisition funnels like WAEPA's, particularly for younger digital-native federal hires.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Worldwide Assurance For Employees of Public Agencies social profiles
Digital presenceWorldwide Assurance For Employees of Public Agencies financial estimates
Financial estimateRevenue estimate
Valuation estimate
Worldwide Assurance For Employees of Public Agencies leadership team
Management profileNumber of profiles
Worldwide Assurance For Employees of Public Agencies funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Worldwide Assurance For Employees of Public Agencies M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Worldwide Assurance For Employees of Public Agencies
What does Worldwide Assurance For Employees of Public Agencies do?
WAEPA is a nonprofit membership association that provides portable Group Term Life Insurance (up to $1.5 million) and Group Short-Term Disability Insurance (up to $6,500 monthly for six months) exclusively to current and former Civilian Federal Employees and their families. Policies are underwritten by New York Life Insurance Company and remain in force even after the member leaves federal service, distinguishing the coverage from FEGLI.
Is Worldwide Assurance For Employees of Public Agencies a public or private company?
Worldwide Assurance For Employees of Public Agencies is a private company. It is classified as nonprofit foundation owned and is currently operating.
When was Worldwide Assurance For Employees of Public Agencies founded?
Worldwide Assurance For Employees of Public Agencies was founded in 1943. It employs 11 to 50 people.
Where is Worldwide Assurance For Employees of Public Agencies based?
Worldwide Assurance For Employees of Public Agencies is headquartered in Falls Church, United States, in the North America region.
How does Worldwide Assurance For Employees of Public Agencies make money?
Three revenue lines are on record. Group Term Life Insurance Premiums are the primary driver. The others are short-Term Disability Insurance Premiums and associate Membership.
Who are Worldwide Assurance For Employees of Public Agencies's main competitors?
Direct peers on record are Government Employees Benefit Association (GEBA), FEGLI (Federal Employees' Group Life Insurance), Armed Forces Benefit Association (AFBA) and Navy Mutual Aid Association. Broad incumbents are New York Life Insurance Company, MetLife, USAA, Unum Group and Prudential Financial. Bestow is listed as an emerging player.
Does Worldwide Assurance For Employees of Public Agencies have an API?
No public API is recorded for Worldwide Assurance For Employees of Public Agencies.
What industry is Worldwide Assurance For Employees of Public Agencies in?
Worldwide Assurance For Employees of Public Agencies's product category is Group Life Insurance. Its primary akta.pro industry code is FSAIAAAJ, Group Term Life Insurance, with a secondary code of FSAIAIAB, Group Disability Income Insurance (Employer-Sponsored). Its NAICS code is 524113 and its SIC code is 6311.