Permanent life insurance is one of the most powerful tools for building financial security — especially when it includes guaranteed benefits and cash value growth. But for many, it can seem intimidating to figure out which type of coverage is the best fit for them. There are several types of permanent insurance to meet the diverse needs of the military community — you just need to determine which one is right for your family for all that the future may hold.  

Breaking Down the Basics 

Permanent life insurance policies, like Value Added Whole Life (VAWL), Wealth Builder Life Insurance, and ANNUITYLife® from Armed Forces Mutual offer:  

• Lifetime protection 
• Tax-advantaged cash value 
• Access to policy loans 
• Exclusivity for military families 

To begin the process of choosing which policy makes the most sense for you, start by asking yourself the following questions:  

• How long do you plan to pay premiums? 
• Are you currently building wealth or working to secure it? 
• How quickly do you want to access the policy’s cash value?  
• What stage of life are you in? Are you early in your career, growing a family, making post-service plans, spending time with grandchildren, or somewhere in between?  

Once you determine your answers and understand the features of each policy, you can make an informed decision about which option will work best within your family’s budget to ensure you have affordable financial protection for the future.  

Essential Policy Details  

To ensure you make the best choice, consider the advantages of each permanent life insurance solution. Keep in mind that even though each of these Armed Forces Mutual policies tends to serve certain groups well, your needs may be unique — and it’s okay if you don’t fit a specific mold. 

✅ 1. Value-Added Whole Life (VAWL) 

Ideal for: Servicemembers and spouses who want long-term peace of mind, predictability, and a growing cash value reserve. 

Offers: Long-term protection with stable, guaranteed growth 

• Guaranteed level premiums for life 
• Guaranteed death benefit 
• Guaranteed cash value accumulation over time 
• Eligibility to earn annual dividends (not guaranteed) 
• Access to policy loans against your cash value 
• Available up to age 80 
• Built for lifetime coverage — a strong foundation for military families at any stage 

✅ 2. Wealth Builder Life Insurance 

Ideal for: Servicemembers with lump-sum savings (e.g., TSP rollover, inheritance, bonus) who want to grow wealth safely and efficiently — without market exposure. 

Offers: Accelerated cash value growth with flexible access 

• Single premium or short-payment period options 
• Cash value grows quickly, offering faster liquidity 
• Guaranteed death benefit 
• No medical exam required in many cases 
• Often used for retirement planning, estate transfer, or legacy gifting 

✅ 3. ANNUITYLife® 

Ideal for: Servicemembers nearing or in retirement who want guaranteed protection and steady, conservative growth for future income. 

Offers: The opportunity to turn a lump sum into permanent insurance with guaranteed income potential 

• Single premium used to fund both a whole life policy and a deferred annuity 
• Earns guaranteed interest on the annuity portion 
• Immediate cash value access through policy loans 
• Helps preserve assets while still providing a death benefit 
• Combines the security of insurance with retirement income features 

🔍 Key Differences at a Glance 

Feature	Value-Added Whole Life	Wealth Builder	ANNUITYLife
Premium Structure	Level	Single Premium	Single Premium
Death Benefit	Guaranteed	Guaranteed	Guaranteed
Cash Value Growth	Moderate	Accelerated	Moderate + annuity interest
Access to Funds	Loans from cash value	Loans or surrender	Loans from cash value
Ideal Use	Lifetime protection & stability	Estate building & wealth transfer	Legacy + income planning

We’re Here to Help  

If you’re not sure which permanent policy best fits your family’s unique needs and goals, an Armed Forces Mutual Membership Coordinator can help guide you to make this important decision with full confidence. Contact us online or at 877-398-2263 today to get started.