Just like when you buy a home, you’re planning for the long run when you purchase an AAFMAA life insurance policy—10, 20, or 30 years or even for life. So, much like a home, you should expect to perform some routine maintenance on your policy to make sure it performs the way you’d like down the road. Many changes can occur during the life of your policy, so you should consider these three things on a periodic basis:
1. Update Your Contact Information. It’s critical that you keep your contact information up to date with AAFMAA, so you can be sure to receive important information regarding your policies and benefits. Contact us if there is a change to your mailing address, primary and/or secondary phone numbers or email addresses.
2. Reconfirm Your Family Status. You purchased life insurance to protect your loved ones, so it’s important to let us know if there are changes in your family. Did you have a new child, lose a loved one, or a change in your marital status? This could mean you should consider a change in beneficiary. Keep us updated on these changes in case they affect your policy.
3. Review Your Policy Ownership. Are you the owner of life insurance policies insuring family members? If so, you should establish a Successor Owner to make decisions on the policies and aid your loved ones in the event of your passing. Likewise, selecting a Successor Owner allows AAFMAA to quickly transfer the ownership of a policy when the original policy owner passes. This means your survivors can avoid time-consuming paperwork later on and get the support they need right away. It’s easy to designate a Successor Owner, simply download and complete this form and return it to AAFMAA at [email protected].
Remember, as the policy owner you can review and update all of your information anytime in AAFMAA’s Member Center. You can access the Successor Owner and Beneficiary forms there as well. Need help? AAFMAA Policy Service representatives are ready to assist you, Monday-Friday, 8:30 a.m. to 5:30 p.m., ET at 800-336-4538.