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In The News

Rod Azama Joins Board of Managers for AAFMAA Wealth Management & Trust and AAFMAA Mortgage Services

2018-10-02

AAFMAA is proud to announce the addition of Rod Azama to the Boards of Managers of both AAFMAA Wealth Management & Trust and AAFMAA Mortgage Services.

Azama brings a depth of background to AAFMAA as business and operations manager, national security and cybersecurity specialist, director of information analysis, and contributor to books on financial planning, infrastructure development, and national security. He is a graduate of the U.S. Military Academy, the Wharton School of Business, the University of Southern California, and various government and military schools. Azama taught in the U.S. Military Academy’s Department of Social Sciences as an Assistant Professor of Management and Economics Instructor, and was an adjunct faculty member at the University of Pennsylvania.

As a career soldier, Azama served at strategic, operational, and tactical levels for over 20 years, including service as a Special Forces A-Team commander and national military intelligence team chief during Operations Desert Shield and Desert Storm.

After the Army, Azama was a US trade finance official and managed a large regional investment portfolio.  He has served as a risk management and international business consultant, and an emerging technology advisor.  Azama was a Principal at CSC Corporation, a cyber Project Manager at the Department of Homeland Security, and is currently a cybersecurity advisor to a Fortune 100 company. He is active in veteran causes, currently serving on the Maryland Governor’s Veterans Home Commission and as a Wounded Warrior Mentor. Additionally, he is a member of the American Legion, Veterans of Foreign Wars, National Eagle Scouts Association, and a Life Member of the American Association of Individual Investors,

With his extensive and dedicated military and corporate career and proven leadership ability, Azama is a valuable asset to the Boards of Managers and will help achieve the organizations’ goals of ensuring the financial security and independence of members of the American Armed Forces community.

Common Questions

Yes, your AAFMAA policy will cover a death related to COVID-19 if you are an existing AAFMAA Member with a policy issued more than two years ago or prior to a COVID-19 diagnosis, even within the first two years the policy is owned. The only exclusion on AAFMAA policies is death by suicide within the first two years.

However it is important to note that death claims made against an underwritten policy issued within the last two years are contestable, regardless of the cause of death. Contestable death claims are reviewed and subject to denial if we find undisclosed material information that would have changed the outcome of the policy issuance decision.

Yes, if you are applying for a policy that requires medical underwriting, you must disclose a positive COVID-19 diagnosis. Not doing so would be considered material misrepresentation and could result in your policy being voided.

As mentioned above, death claims made against an underwritten policy issued within the last two years are contestable, regardless of the cause of death. Additionally, you don’t have to die for a material misrepresentation to void your contract. The policy can be voided at any point within the first two years if AAFMAA finds that you provided incorrect information about your health history and that the correct information would have prevented us from issuing the policy.

If you were diagnosed with having contracted COVID-19 prior to applying for life insurance and you failed to disclose that diagnosis on your application, your death claim could be denied. This is because, if you had disclosed your COVID-19 diagnosis, we would have followed current industry guidelines and possibly postponed acceptance of your application. In this case, your policy would be voided and your survivors would only receive a refund of the premiums you had paid.

No, the COVID-19 vaccine is classified as a typical wellness check, for which we do not require disclosures and do not deny death claims. We strongly suggest that our Members follow CDC recommendations and receive the COVID-19 vaccination as soon as they are eligible.

Industry guidelines indicate that a COVID-19 diagnosis may postpone acceptance of your application for a period of three weeks to 1 year following recovery, depending on the severity of symptoms and treatment. This timeline is subject to change as new information becomes available and industry guidelines are adjusted accordingly. Those who experience a full recovery may be considered for issue before 12 months, while serious cases (such as those which required a ventilator) may be postponed for longer.

No. Receiving a COVID-19 vaccination will not affect the acceptance of your application.

No, AAFMAA cannot change your premiums or your health classification on a policy you currently hold. Your premiums and health classification will remain the same, even if you have been diagnosed with COVID-19 or you are at a higher risk of exposure due to your job, living situation, or recent travel, or if you get one of the COVID-19 vaccinations approved for emergency use by the USFDA.