Ensure Your Loved Ones Are Protected
Life insurance is the primary way to care for those you love should the unthinkable occur. However, whole life insurance
has the added benefit of building tax-deferred cash value that can be used later in life, such as for higher
education, large purchases, or retirement.
Unlike term insurance, whole life is permanent coverage, meaning it does not run out after a specified amount of
time. (Some whole life policies do have an age limit, but newer policies usually last at least until you reach
age 100.) Additionally, whole life monthly premiums never go up, which is why it is smart to take out a whole
life policy as early in life as possible. However, because of the many benefits of whole life insurance, the
premium is higher than an equivalent term life policy. It costs more because you get more.
No matter your age or life situation, AAFMAA offers a variety of
whole life insurance policies
designed to meet your family’s needs. Plus, with an AAFMAA policy, you receive all the added benefits that
come with AAFMAA Membership while you grow your policy cash value at industry-leading crediting rates.
Take a look at AAFMAA’s whole life insurance policies:
Value-Added Whole Life
Value-Added Whole Life insurance
is a smart military whole life insurance policy for Veterans, servicemembers (active duty, National Guard, or
reserve), their spouses , and their children or grandchildren under 26 years of age. Because it is a whole life
policy, it provides permanent coverage that stays with you for life, builds cash value, and the monthly premiums
never go up.
An annuity is a contract in which you agree to pay a specific amount of money now that creates a stream of payments
back to you later, typically for retirement.
ANNUITYLife® is a
modified endowment contract
(MEC), which refers to a life insurance policy that meets specific tax qualifications. With a MEC, you pay premiums
into the life insurance policy faster than normal — typically in seven years or less. The tax-deferred
policy cash value growth, plus the tax-free death benefit, and the fact that there are no upfront fees, commissions
make this a smart alternative to traditional annuities.
ANNUITYLife gives you the benefits of an immediate annuity, however before you annuitize the policy it also provides
whole life insurance coverage, a long-term care settlement option and, unlike a traditional annuity, you can
get back all of your initial investment plus any earned interest with no surrender charges from AAFMAA.
ANNUITYLife is a smart option for any Veteran, retiree, or military spouse approaching or in retirement who would like
to convert savings to a stream of income.
Wealth Builder Life Insurance
Wealth Builder Life Insurance
is designed to help servicemembers, spouses, and widows/widowers over age 55 feel confident preparing for retirement.
This policy provides permanent coverage that can build your tax-deferred retirement savings at a high rate. Moreover,
Wealth Builder Life Insurance is one plan with four solutions:
1. Permanent life insurance coverage that grows a cash value at AAFMAA’s industry-leading crediting
2. Your own pension, provided by converting your cash value into a stream of income;
3. A long-term care settlement option should you need to access your death benefit to help cover long-term
care expenses; and
4. A cash value that can be used as a policy loan or surrendered with no penalties from AAFMAA.
You can also choose to diversify your retirement mix and use your Wealth Builder Life Insurance cash value as your
needs change. The plan also includes AAFMAA’s exclusive Survivor Assistance Services to personally assist
family members when the time comes.
Veteran Survivor Plan
Veteran Survivor Plan
is a guaranteed acceptance whole life plan with coverage from $10,000 to $25,000 that is designed for Veterans,
retirees, and spouses ages 45 to 84. The plan is intended for those who do not have permanent life insurance
and may not meet or do not want to endure medical underwriting requirements. It is also a good option if you
are aging out of your term policies. There is no medical exam required, allowing you to take out permanent insurance
so that your final expenses, such as medical bills and funeral services, are covered.
Although it may not seem like children need life insurance, investing in a whole life policy while your children
or grandchildren are young provides them with protection and a smart path to a solid financial future.
policies are available in amounts from $10,000 to $50,000 at low premiums that will be locked in for life. That
makes investing in a policy while they are young a smart choice because you will pay a much lower rate than they
will be charged if they wait until they are older to purchase coverage. By purchasing this life insurance now,
it can help them later on if they are unable to qualify in the future due to unforeseen health issues.
Generations Plus coverage automatically doubles when your kids turn 18, with no premium increase. The policy
provides your child or grandchild with lifetime access to AAFMAA benefits and the ability to invest in future
life policies, as well as mortgages, wealth management, and other AAFMAA services that are only available to
members of the military community.
AAFMAA Can Help You Choose the Right Plan
AAFMAA offers affordable whole life insurance for Veterans, servicemembers, military spouses, and dependents with
superlative personal service from an organization that understands military families’ unique needs. Work
with AAFMAA’s Life Insurance experts to find theright policy for you. Call
1-888-973-8490 to speak with a Membership Coordinator or
get a free quote