It’s that time of year when you will receive your Armed Forces Mutual Annual Statement by mail or online in the Member Center. Before it arrives, it’s a good idea to familiarize yourself with the information it provides you. Here’s what you should know.
What is an annual statement and why is it important to review?
Your Armed Forces Mutual Annual Statement is a yearly report of the status of your Armed Forces Mutual life insurance policies. It’s important to note that information on your Armed Forces Mutual Annual Statement is specific to your own policy and does not apply to all policyholders. Be sure to examine your statement carefully to ensure the information on it is accurate and up to date.
Let’s look at the Armed Forces Mutual Annual Statement and break down each section:
- Section 1 contains policy information. You will find the name of the policy’s owner, the person who is insured, the certificate number, issue date, statement period, policy issue age, and contact information. If a policy is owned by someone other than the insured, please make sure a successor owner is named to enable the easy transition of ownership in case the non-insured owner dies before the insured dies.
- Section 2 contains a policy summary from the date of issue. For term policies, your current death benefit will be listed. For Value-Added Whole Life policies, this includes the face amount of insurance you selected when the policy was issued and adjustments for any changes you’ve made since then. It also includes cash value earned over time from premiums paid, cash value growth, any policy loans, and the net balance of the death benefit and cash surrender value. Below the policy summary box, you’ll find the 2025/2026 crediting rates and the 2026 loan interest rate.
- Section 3 contains a summary of activity for the year. For term policies, only your current death benefit will be listed. For Value-Added Whole Life policies, you will see a breakdown of transactions that occurred during the previous policy year.
- Section 4 contains your beneficiary designation. Upon the death of the insured, the death benefit from your policy will be paid to the surviving beneficiaries listed in this section. Please check to ensure your beneficiaries’ current legal names and relationship are listed. If you need to make beneficiary changes, complete an Beneficiary Designation form.
- The back page provides an overview of the terms used within the statement.
If you aren’t sure how your Annual Statement will be delivered to you, log into the Member Center and click on "Account Settings" under "My Profile." Scroll down to “Paperless Options” to review selected settings. Click on the “Edit” button to update your preferences.
To access your Annual Statement in the Member Center, hover over the “My Documents” tab and click on “Insurance Documents”. Select the “Annual Statements” tab. Scroll down and choose either to “View” or to “Download” your annual statement.
If you need our assistance to gain access to the Member Center, contact Armed Forces Mutual Member Benefits at 703-707-1182.
If you have questions about your 2025 Armed Forces Mutual Annual Statement, contact Policy Services at 800-336-4538.
This article was originally published January 26, 2024.
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