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Life Insurance

The importance of life insurance

2015-03-16

Life insurance is a daunting topic that many families want to get settled as quickly and easily as possible. Some people just avoid it altogether. It's understandable, of course, that most people don't like to deal with paperwork sorting out details of death.

But life insurance isn’t around to make you and your family suffer; it exists to keep you from suffering in the event that something should happen to you or your spouse. A recent LIMRA study found that insurance coverage has fallen dramatically in recent years. According to the study, 4 in 10 American families with children under the age of 18 would struggle to pay bills if the primary earner passed away.

While Servicemembers Group Life Insurance (SGLI) is definitely worth having, it may not be enough for many families. Remember, life insurance isn’t for you, it’s for those who depend on you.

If your servicemember spouse is thinking about retiring from the military, AAFMAA’s Level Term I life insurance policy would supplement SGLI coverage and continue after separation from the military. This policy would also cover your spouse while deployed and offer $10,000 coverage for children under 21 at no additional cost. Your spouse can also get a coverage amount of $800,000 with no limitation based on rank or deployment status.

Once you become an AAFMAA member, you and your family become eligible for Premier Services. If your family relocates every few years with your servicemember, digital and vault document storage through AAFMAA’s secure member center (accessible 27/7) might be a good idea. Avoid the ridiculously inconvenient consequences of losing a birth certificate or insurance policy by entrusting AAFMAA.

Premier Services can also help with VA Disability Claims Coordination, Military Benefits Analysis and Transition Readiness.

If you’re recently married, in an established marriage or thinking of starting a family, get your life insurance situation settled to give your family the security they deserve.