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Retirement Security

Wealth Builder Life Insurance

Make your retirement savings work harder with our industry-leading 5.1% crediting rate* while creating flexible options for your future — all with no upfront fees, no market risk, deferred taxes, and no medical exam. Policies are available in $10,000 face value increments from $10,000 to $1 million.

1 Plan, 4 Retirement Solutions

Wealth Builder Life Insurance gives you complete control over your retirement savings with multiple built-in options.

5.1% Tax-Deferred Growth*

Grow your retirement savings at an industry-leading crediting rate.

Create Your Own Pension

Convert your policy into lifetime income at no cost.

Long-Term Care Settlement Option

Access your death benefit to cover long-term care expenses if needed.

Your Money Is Yours, Always

You can borrow from your cash value or surrender the policy with no fees or penalties from Armed Forces Mutual.

Retirement Solutions

Your Savings, Your Control

Wealth Builder Life Insurance transforms your retirement savings into a versatile financial tool that can satisfy your changing needs in retirement.

If you don't need to live off the required minimum distributions (RMDs) from your retirement accounts, Wealth Builder Life Insurance offers a smart way to put that money back to work. Your premium grows tax-deferred at our industry-leading 5.1% crediting rate,* so you don’t pay taxes on that growth unless you surrender the policy. Unlike market-based investments, your principal is protected from market volatility, creating predictable growth you can count on throughout retirement. This stability is especially valuable for Veterans over 55 who want to maximize their savings without unnecessary risk.

Get Started with Wealth Builder

Wealth Builder Life Insurance allows you to convert your cash value into a guaranteed income stream — essentially creating your own pension. Unlike traditional annuities or other retirement products, this conversion comes with absolutely no fees, commissions, or surrender charges from Armed Forces Mutual. This feature is particularly valuable for Veterans who may not have a traditional pension or who want to supplement existing retirement income with a source they can’t outlive.

Wealth Builder Life Insurance includes a valuable Long-Term Care Settlement Option that allows you to access your death benefit while still alive, should you need funds to cover long-term care costs. This built-in feature provides peace of mind knowing that your policy can adapt to one of retirement's most significant financial risks. Unlike standalone long-term care policies with use-it-or-lose-it premiums, your Wealth Builder premium builds cash value for you whether you end up needing long-term care or not, ensuring your money always works for you or your beneficiaries.

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Wealth Builder Life Insurance gives you unmatched flexibility with your retirement savings. You can take policy loans against your cash value, or even surrender the policy completely and receive your cash value back — all with no penalties from Armed Forces Mutual. This liquidity ensures your money remains accessible when you need it, unlike other retirement vehicles with strict withdrawal penalties or limitations. Combined with permanent life insurance protection, Wealth Builder Life Insurance creates a truly versatile financial tool that adapts to your changing needs throughout retirement.

Wealth Builder Life Insurance is designed for members of the military community, their spouses and widows/widowers, typically over age 55, who want to maximize their retirement savings while creating flexible options for the future.

Growth & Security

Put Your RMDs Back to Work

Get Started with Wealth Builder

Income Options

Create Guaranteed Retirement Income

Long-Term Care Settlement Option

Funds Available as Needed

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Using Your Savings

Your Money, Your Choice

Who Can Apply?

A Plan to Retire with Options

Voice of the Member

Retirement Success Stories

Hear from fellow Veterans who have secured their retirement with help from Armed Forces Mutual.

Want to Know More?

Find answers below.

Can I access the money in my Wealth Builder Life Insurance policy if needed?

Yes. You may access your Wealth Builder Life Insurance cash value any time by taking out a policy loan, annuitizing the cash value, or surrendering your policy.

If you choose to surrender your policy, you will receive all of your money back, including the premium paid and any interest earned. If you receive the funds before you are age 59-½, you may have to pay a 10% tax penalty on the interest earned to the IRS.

Alternatively, after holding your Wealth Builder Life Insurance policy for 10 years, you may convert it into a lifetime annuity payment. Additionally, at any time you may take a policy loan of up to 75% of the cash value in the policy.

What are the tax advantages?

Wealth Builder offers multiple tax advantages: cash value grows tax-deferred, death benefits are generally income tax-free to beneficiaries, and policy loans can provide tax-advantaged access to your money during retirement.

What are the potential tax implications of accessing my Wealth Builder Life Insurance cash value?

All Wealth Builder Life Insurance policies are Modified Endowment Contracts (MECs) and subject to TAMRA. You may own any number of Wealth Builder Life Insurance policies, in increments of at least $10,000 each, up to a total combined face value of $1 million.

If you decide to cash surrender one or more Wealth Builder Life Insurance policies purchased during the same calendar year, you will pay taxes on the interest earned for all of the policies you own — even those you do not surrender, which remain in force. When you cash surrender subsequent policies, since you have already paid some or all of the taxes, you will pay less tax on the gain for those policies.

Ultimately, the amount of total taxes on the policies surrendered will be roughly the same because the tax basis of the subsequent policies will be increased to reflect the taxes already paid. This will not have an impact on policies that are annuitized, if all policies are surrendered simultaneously, or in the event of the policy owner’s death.

What is guaranteed about my Wealth Builder Life Insurance policy?

Your Wealth Builder Life Insurance policy is guaranteed to earn a minimum crediting rate (specified in your policy) less administrative charges for mortality and expenses. The graded death benefit only applies to policies issued to Members ages 78 and higher and will pay 90% of the initial death benefit in year one, 95% in year two, and 100% in year three, and thereafter.

How much does Wealth Builder Life Insurance cost?

To buy a Wealth Builder Life Insurance Policy, you pay a one-time, net single premium of $750 per $1,000 of death benefit. Policies can range from $10,000-1,000,000 of coverage.

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Secure Your Future

Put Your Retirement Savings to Work

Join thousands of Veterans who have discovered how Wealth Builder can transform retirement savings into lifetime security with our industry-leading 5.1% crediting rate and no fees or commissions.

Armed Forces Mutual Wealth Builder Life Insurance is a life insurance policy. This is not long-term care insurance.

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

*Armed Forces Mutual's crediting rate for Wealth Builder Life Insurance is currently 5.1% for 2025, minus an administrative cost, currently 0.75% for a net current return of 4.35%. This rate is not guaranteed and is subject to change. The guaranteed crediting rate is 2.5%, minus the administrative fee for a net guaranteed return of 1.75%.

Wealth Builder Life Insurance policies are 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 Wealth Builder Life Insurance policy. Please read important tax information here. Armed Forces Mutual 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.

The U.S. Government does not sanction, recommend or encourage the sale of this product. Subsidized life insurance may be available from the Federal Government.