AFBA Life Insurance

Founded in 1947, the Armed Forces Benefit Association (AFBA) provides life insurance and other financial solutions to military personnel, federal employees, and their families. With over 445,000 members, the association has been serving those who serve our country for over seven decades. This article provides an overview of AFBA life insurance, its benefits, products, and how to apply.

What is AFBA Life Insurance?

AFBA life insurance is a term life policy offered by the Armed Forces Benefit Association to its members. It provides military personnel, veterans, and their families with an affordable way to secure financial protection for their loved ones in the event of their death. The policy provides financial security for the beneficiaries of the policyholder by paying a death benefit upon the death of the policyholder.

AFBA life insurance policies are underwritten by 5Star Life Insurance Company, a subsidiary of AFBA. The policies are available to active and retired military personnel, federal employees, National Guard and reserves, and their families.

Benefits of AFBA Life Insurance

AFBA life insurance provides several benefits to its members, including:

AFBA Life Insurance Products

AFBA offers several life insurance products to its members, including:

Level Term I

Level Term I is a term life insurance policy that provides level coverage for 10 years. The policy is renewable and convertible, which means that policyholders have the option to renew their policy at the end of its term or convert it to a permanent policy.

Level Term II

Level Term II is a term life insurance policy that provides level coverage for 20 years. Like Level Term I, it is renewable and convertible.

Level Term III

Level Term III is a term life insurance policy that provides level coverage for 30 years. It is also renewable and convertible.

Value Life

Value Life is a whole life insurance policy that provides coverage for the lifetime of the policyholder. It also includes a cash value component that accumulates over time.

Value Protector

Value Protector is a universal life insurance policy that provides both death benefit protection and cash value accumulation.

How to Apply for AFBA Life Insurance

Applying for AFBA life insurance is straightforward and easy. To apply, follow these steps:

Step 1: Determine the Coverage You Need

The first step in applying for AFBA life insurance is to determine the coverage you need. Consider factors such as your income, debt, and the needs of your beneficiaries.

Step 2: Choose a Policy

AFBA offers several life insurance policy options to its members. Choose the policy that best meets your needs and budget.

Step 3: Fill Out an Application

Fill out an application form for the policy you’ve chosen. You can do this online, by phone, or by mail. The application process is simple and straightforward.

Step 4: Wait for Approval

AFBA policies are guaranteed to be issued to members, regardless of their health status. You’ll be notified of your approval status within a few days of submitting your application.

FAQs

1. Who is eligible for AFBA life insurance?

AFBA life insurance is available to active and retired military personnel, federal employees, National Guard and reserves, and their families.

2. What is the coverage amount available for AFBA life insurance?

AFBA life insurance policies are available with coverage amounts ranging from $10,000 to $800,000.

3. Can I renew or convert my AFBA life insurance policy?

Yes, all AFBA policies are renewable and convertible. Policyholders have the option to renew their policy at the end of its term or convert it to a permanent policy.

4. Is there a medical exam required for AFBA life insurance?

No, there is no medical exam required for AFBA life insurance. All policies are guaranteed to be issued to members, regardless of their health status.

5. How can I make a claim on my AFBA life insurance policy?

To make a claim on your AFBA life insurance policy, contact the AFBA claims department by phone or email. You’ll need to provide proof of the policyholder’s death, such as a death certificate.

Conclusion

AFBA life insurance is a great option for military personnel, federal employees, and their families to secure financial protection for their loved ones. With its affordable premiums, flexible coverage options, and guaranteed coverage, AFBA life insurance is an excellent choice for those looking for reliable life insurance coverage. Apply for AFBA life insurance today and enjoy the peace of mind that comes with knowing your loved ones are protected.