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ANNUITYLife®

A Better Solution for Your Immediate Annuity Needs

  • CheckmarkEverything you want from an annuity, and nothing you don't
  • CheckmarkNo upront fees, no commissions, no surprises.
  • CheckmarkGet an income stream you cannot outlive
  • CheckmarkBe financially confident in your retirement

About ANNUITYLife

What Is Included in ANNUITYLife?

  • You're in control, with the option to annuitize immediately and earn 3%.
  • Create your own pension, with an income stream you cannot outlive.
  • Easy and transparent application process.
  • Permanent benefits of AAFMAA Membership, including Survivor Assistance Services and your own secure online Digital Vault to store your essential documents at no additional cost to you.

Who Is ANNUITYLife for?

  • Veterans, Retirees, and their Spouses
  • Surviving Military Spouses (Widows and Widowers)
  • Those approaching, or in, retirement with savings they want to convert to a stream of income, such as RMDs, investments in higher risk assets, proceeds from inheritance or asset sales, etc.
 

Are You Considering an Immediate Annuity? 

Anticipating and preparing for your needs in retirement is critical to ensuring your financial security.

Annuities are contracts in which you pay a set amount of money in exchange for a stream of income at some point in the future. Annuities offer the peace of mind that comes with knowing you’ll have financial stability in retirement—as long as your annuity payments cover your expenses.

There are generally two kinds of annuities—fixed and variable. Fixed annuities are relatively simple and guarantee to pay you a locked interest rate for a defined period of time. Variable annuities are more complex investment vehicles that do not guarantee a return, but rather provide a market-based return with the risk of loss.

Additionally, annuities are created in one of two basic ways—immediate or deferred. An immediate annuity is an insurance contract in which you invest a lump sum of money today and start receiving periodic payments immediately. You can start receiving a stable, locked income right away and you never need to worry about monitoring your investment. Immediate annuities can also allow you to defer taxes until later in retirement because you only pay taxes on the earnings you receive as part of your periodic payments at the time when you receive them. Your remaining principal continues to earn interest tax-deferred. Deferred annuities are created in a similar way—some amount of principal is accumulated either through lump sum or through periodic investment over time—but that principal is held and the annuity is deferred, earning interest until you need the stream of income. At that point your annuity payments are based on your principal investment and the interest you’ve earned, resulting in higher periodic income payments.

Are you thinking a deferred annuity is what you really need? Check out Wealth Builder Life Insurance.

Get a Better Solution with ANNUITYLife

ANNUITYLife is a safe and affordable way to get secure, lifetime income from your retirement savings, without the concerns you might have about traditional immediate annuities. You won’t have to worry about running out of money in retirement again. Before you annuitize, you can redeem your money at any time with no charges from AAFMAA.

ANNUITYLife is not a traditional immediate annuity—it’s better. Here’s how:

  • No upfront fees, commissions or hidden charges.
  • You’re in control. Annuitize immediately and earn 3%.
  • You’ve got options. Before you annuitize, you have whole life insurance coverage with a long-term care settlement option at no additional cost and you can get back all of your initial investment with no surrender charges from AAFMAA.
  • You get exclusive AAFMAA Membership benefits.
  • You get the benefit of being part of an organization that exclusively serves Veterans and their families.

ANNUITYLife is a Modified Endowment Contract (MEC). A MEC is a tax qualification of a life insurance policy where premiums are paid into a life insurance policy more quickly than normal, usually less than seven years. Since MECs grow tax-deferred and have a tax-free death benefit, they are seen as a beneficial alternative to traditional annuities.

It's More Than an Immediate Annuity. Enjoy All the Rewards of AAFMAA Membership.

With ANNUITYLife from AAFMAA, you get all the benefits of AAFMAA Membership, including our exclusive Survivor Assistance Services. After you pass away, your loved ones get the dedicated support of an expert Survivor Assistance Counselor in navigating the complex process of receiving all the entitlements and benefits you earned from your military service. AAFMAA will be with your survivors for life.

You’ll also get your own online Digital Vault in the AAFMAA Member Center to store your essential documents efficiently and securely, at no additional cost to you. Not to mention, if you pass away prior to annuitizing your policy, your survivors will receive the face value death benefit, tax-free, because ANNUITYLife is whole life insurance until you annuitize.

Download the ANNUITYLife Brochure to print or share more information about this better solution for your immediate Annuity needs with your loved ones.

Think you might not want to annuitize? Learn more about AAFMAA’s Wealth Builder Life Insurance, which may be another option for you.

Choose ANNUITYLife to protect your financial future. Start your application online and finish it by phone with an expert AAFMAA Membership Coordinator at 866-716-4579.

Common Questions

Unlike a traditional immediate annuity, ANNUITYLife gives you options and the flexibility to design your own retirement and create your own pension on your terms, without any upfront fees or hidden charges.

If you delay annuitizing, you have whole life insurance coverage with a long-term care settlement option, at no additional cost, and you can get back all of your initial investment with no surrender charges from AAFMAA. It’s a safe, trusted solution available only to members of the military community that allows you to set up a secure income stream in retirement ensuring your money lives as long as you do.

No. AAFMAA does not require a medical exam to apply for an ANNUITYLife policy. All you have to do is answer three simple medical questions confirming that you are neither presently in a hospital, confined to a bed, nor have a known terminal illness expected to result in death within two years of policy issue.

Unlike other annuity products, ANNUITYLife has no upfront fees or commissions to pay. You simply make your initial investment, which comes in the form of a net single premium of $785 per $1,000 of policy benefit ($10,000-$1,000,000 coverage)—because ANNUITYLife is a life insurance policy first with an immediate annuity option. Otherwise, as your money earns our industry-leading current crediting rate* of 5.0%, we subtract the small administrative cost of 0.75% from those earnings—giving you a net crediting rate of 4.25%. When you annuitize, AAFMAA bases your income stream on your initial premium plus any cash value growth in the policy at that time.


Subject to terms and conditions of the policy, including exclusions and limitations. There is no insurance coverage unless you apply and are accepted by AAFMAA, a policy is issued and you pay the required premium. No war, aviation, terrorist clause. All policies include Survivor Assistance Services.

*AAFMAA's crediting rate for ANNUITYLife is currently 5.0% for 2020, minus an administrative cost, currently 0.75% for a net current return of 4.25%. This rate is NOT guaranteed and is subject to change. The guaranteed crediting rate is 3.0%, minus the administrative fee for a net guaranteed return of 2.25%.

ANNUITYLife is a life insurance policy. It is not long-term care insurance.

ANNUITYLife is a Modified Endowment Contracts (MECs) subject to the Technical and Miscellaneous Revenue Act of 1988 (TAMRA). Under TAMRA, you may owe taxes and penalties if you surrender or take a loan against the cash value in your ANNUITYLife policy. Please read important tax information here. AAFMAA does not provide tax advice. If you have questions about the tax implications of this product or other life insurance products you own, please consult a qualified tax professional.