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Life Insurance

How Life Insurance Underwriting Works


When you apply for a life insurance policy, you are asking a life insurance company to consider the degree of risk they are willing to take to cover your expenses. The company will determine whether to accept or reject your application and the amount of premium to charge you that is commensurate with the degree of risk accepted. This risk is based on your medical history, and these decisions are based on careful consideration and underwriting guidelines adopted by the company. Underwriting Guidelines are one of the tools all life insurance companies use to determine risk in a fair and equitable manner.

AAFMAA uses underwriting guidelines that are created and published by a leading underwriting company. In addition to those guidelines, we also have a partnership with a company that specializes in underwriting life insurance. The guidelines we use are based on historical data (life expectancies, medical treatments, etc.), plus new medical research to ensure that the information used to underwrite every policy is current. We strive to apply our guidelines in a uniform and consistent way. The underwriters do not know your medical future; therefore, all underwriting decisions must be based on current and past information.

Our objective is to assign an appropriate premium rate that matches the insurance risk your association assumes. As a non-profit, this is consistent with our philosophy that each Insured person pays the premium rate commensurate with their personal risk.

Please note that AAFMAA is a non-profit, Member-owned organization. We were created by and for our Members and we exist to serve them. AAFMAA receives no benefits from the VA, Military, or Federal or State governments. We are truly Members helping Members.

Why Should Military Families Choose AAFMAA?

  • No war clause, no aviation clause, and no terrorist clause — and no surcharges of any kind on any of our policies.
  • No exclusion for hazardous occupations for Active Duty.
  • No exclusions or extra fees for aviation
  • No automatic denial for PTSD — each case is carefully considered on its own merits.
  • No surrender charges on whole life policies.
  • Discuss your insurance needs with salaried employees who receive no commissions, in a stress-free environment.
  • A non-compensated Board of Directors comprised of Association Members, including active-duty and retired Veterans from enlisted and officer ranks represent all Members in the leadership decision-making of the Association.

In all cases, we provide the reason for our action and clear contact information on how to reach us with any questions.