AAFMAA life insurance reviews show high satisfaction from its customers by showing an excellent rate of 84%. Meanwhile, great reaches 8%, average and poor are 3%, and the bad is just 2%. Most reviewers give 5 stars as the score of the life insurance service and it deserves to get indeed. It is as the insurer has been trusted for 142 years from January 13, 1879.
AAFMAA Life Insurance Company is established by a group of Army officers to provide financial assistance to the families of deceased soldiers. Formerly, the company just moved as life insurance then it is expanded to offer investing, trust, survivor, mortgage services, and wealth management to past and present members of the Armed Forces. Never doubt AAFMA life insurance to protect your beloved family. Read detailed reviews about this military life insurance to be more convinced about choosing this service.
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Know More About AAFMAA Life Insurance
AAFMAA life insurance is based in Fort Myer, Virginia as a financial service presenting for the family of deceased soldiers. This life insurance company is also established in Reston (VA), Fayetteville (NC), and Morrisville (NC). The purpose of AAFMAA life insurance is to respond to the Battle of Little Bighorn in 1876.
Established in 1876 means this company becomes the longest-standing as non-profit financial solutions provider. AAFMAA or the American Armed Forces Mutual Aid Association supports military families and veterans and gives exclusive benefits to the Members. It as well provides hallmark Survivor Assistance Services and a full range of financial solutions in every policy.
Based on the reviews at the end of 2019, this life insurance policy had exceeded applicant membership up to 85,000. The applicant will be a member of AAFMAA when they meet the requirements like a certain medical condition. Afterward, the members get a life insurance policy and can purchase additional policies for other policies for their children, spouse, grandchildren, and them. AAFMAA life insurance reviews add the policies have no war, no terrorism, and no aviation clauses.
What Do Application Members Say about AAFMAA Life Insurance?
AAFMAA life insurance policy gets good reviews from applicants with excellent grades. Most of them rate this financial service company by giving five stars on its website as the value. On May 10, 2022, an applicant (Frederick Anthony Quihuis) wrote his review by saying “Great service and friendly people”.
In the latest comment on May 13, 2022, Vicky S said “My husband said, “If anything happens to me, and it won’t, just call this number and everything will be taken care of.” Well, the worse happened. I called the number and EVERYTHING (except one call to DEERS to change the auto deduction) was 100% taken care of”. Those are two examples of AAFMAA life insurance reviews that are founded on the internet. Almost all commentators gave positive reviews from year to year. AAFMAA often replied to the comments properly as a form of appreciation to them.
AAFMAA Reviews in 2018 As The Life Insurance
Review always becomes a critical part for a company or business to keep increasing and developing. In 2018, AAFMAA reviews focused on three points included personal, policy, and beneficiary information. By the way, the review is needed by the applicants before joining the members.
- Personal information
The company asks for the applicants to verify their personal information such as name, address, phone number, and email address. The right personal information is useful to use when there is a problem with their policy and the company can contact them easily.
- Policy information
AAFMAA life insurance provides policy and activity for the applicant members. The term life insurance exists to provide an expiration date, period of coverage, and face amount. Meanwhile, the whole life insurance and ANNUITY life insurance gives crediting rate and cash value of each (5.75% in 2018).
- Beneficiary information
All life insurance is aimed to protect the members’ loved ones when they die including this life insurance. AAFMA life insurance asked for giving the accurate named beneficiaries’ information. The relationship between the applicant and the heir must be accurate to ensure the intended beneficiary is named.
AAFMAA life insurance reviews are pathetic regarding the relationship between the beneficiaries to the applicants such as marriage or divorce, birth or death. It turns out some states do not recognize a former spouse as the beneficiary if it is still called “spouse”.
AAFMAA Life Insurance Is Eligible For?
Each applicant member is eligible to access AAFMAA services, products, and benefits including:
- All ranks of militaries like Army, Navy, Air Force, Marine Corps, Space Force, and Coast Guard
These militaries include USAFA, USMA, USNA, USMMA, and USCGA cadets or midshipmen, ROTC contracts, or scholarship cadets. Later on, the guard reserves both full-time and part-time as well the active duty within 120 days after separation.
- Military retirees
The military retirees mean Army and Air Force through the age of 65.
- Honorably discharged veterans residing in current states
Some veterans might be honorably discharged because of the current reason. AAFMAA life insurance policy receives them living in current states. They must reside in Mayland, South Caroline, North Caroline, and Virginia.
- Retired and current members of the uniformed services
The member of the uniformed services both current and retired eligible for AAFMAA life insurance policies.
- AAFMAA member’s beneficiaries
It consists of the spouses, children, and grandchildren mentioned as beneficiaries of the death benefits in the contract.
In addition, the life insurance eligibility from AAFMA for the members and spouses has an age limitation according to the product selected. Member’s children and grandchildren from 6 months through age 17 are eligible for whole life only. Then, Member’s children and grandchildren ages 18-23 are eligible for Term Level I and their whole life. Widows of deceased members are eligible for themselves and children, also grandchildren of the member. Lastly, Level Term I members get term life insurance of up to $10,000. It is for dependent children under age 21 at no additional cost.
AAFMAA Life Insurances Benefits for Members
AAFMAA life insurance reviews inform a lot of benefits to get by the member group. The applicants registered before July 1, 2000, receive special Living Services from AAFMAA. The policy is also intended for the members who have maintained a policy issued before 1 July 2000. However, AAFMAA only issues policies to their spouses, service members, and military retirees in current territories or states such as DC, MS, NJ, NY, UT, WA, and WI.
The other benefits of AAFMAA life insurance for the members cover them applying for the benefits and entitlements they have earned. It will help them every day through Survivor Assistance Team. AAFMAA life insurance also provides two services such as Survivor Assistance Service and Premier Services:
Survivor Assistance Service
It includes the expeditious payments, claims initiation, advocacy, and surviving spouse’s continued support. By the way, it is included with AAFMAA Life Insurance Membership.
Premier Service
AAFMAA life insurance with premier service covers Digital Vault document storage, VA Disability claims coordination, Transition Readiness Assessment, Military Benefits analysis, and ask for addition for just $5.95 a month.
Outside of those benefits, AAFMAA advantages as well add flexibility, military focus, confidence, always with you, survivor benefits, and come first for you. Flexible means the coverage you need suits the price you want through every stage of life. Military focus refers to your coverage including when you are deployed or training.
The meaning of confidence is protection for your family with up to $1,000,000 of coverage. It stays with you is the benefit of the members can keep their coverage even after they leave the military. Survivor benefits are is a protection for the loved ones you leave behind through lifetime survivor assistance. Further, it comes first for you mean the members will not spend money on penalties or fees if they terminate your policy.
All AAFMAA Life Insurance Policies To Learn
AAFMAA life insurance reviews describe this company provides term and whole life policies in detail:
Term Life Insurance
It provides 4 types of the term life insurance included:
- Level Term I
The policy is intended for National Guard, Active Duty, Veterans, Retirees, and Reserve aged 18-49. It receives member spouses aged 18-49 and member children aged 18-49 also grandchildren aged 18-26.
It offers $50,000 – $800,000 coverage. There is $10,000 coverage for the children up to age 21 at no additional cost. Besides that, it appears less expensive than SGLI and stays with you after retirement or separation.
- Level Term II
AAFMAA offers the Level Term II for National Guard, Active Duty, Veterans, Retirees, and Reserve aged 18- 75. It receives member spouses aged 18-75 and member children aged 18-75 also grandchildren aged 18-26.
The insurance policy provides $50,000 – $800,000 coverage. It is 75% less expensive than VGLI. Alongside that, it includes our hallmark Survivor Assistance Services.
- 5-Year Renewable Term
It serves veterans, retirees, member spouses, and children aged 45+ years. The coverage from 5-year renewable term is $50,000 – $800,000. It has covered hallmark Survivor Assistance Services and is up to 75% less expensive than VGLI includes.
- Simple Term
The Simple Term of AAFMAA life insurance is aimed at aged 45 – 75 years with $10,000 – $100,000 coverage. Here, no medical exam or lab work is required from the applicant members.
Whole Life Insurance
AAFMAA life insurance reviews release 5 services from the whole life policy:
- ANNUITYLife®
It serves veterans, military spouses, and member children aged 60+ also the surviving Military Spouses. It offers financial confidence in retirement and everything you want from an annuity as nothing you don’t. There are no upfront fees, commissions, or surprises.
- Value-Added Whole Life
The policy serves active duty, national guard, reserve, veterans, retirees, member spouses, and member children up to age 80. Meanwhile, the grandchildren are under the age of 26.
Value-Added whole life provides a premium never increases. It covers $5,000 increments from $10,000 to $1,000,000 and gives long-term care settlement option.
- Wealth Builder Life Insurance
It serves veterans & military spouses and member children age 60+ also surviving military spouses. Besides that, it exists for the members might not meet the medical requirements of other policies.
It offers $10,000 – $1,000,000 coverage and long Term Care Settlement Option no additional premium. The life insurance policy builds wealth through cash value growth.
- Veteran Survivor Plan
It services surviving military spouses, veterans, retirees, their spouses & children aged 45-84. The policy is for the members who do not want to endure, do not meet medical underwriting requirements, and do not have existing permanent life insurance coverage.
Besides that, it is for the aging out of their current expiring term life policies. It offers $10,000 – $25,000 coverage and you cannot be turned down though no medical exam.
- Generations Plus
The Generations Plus serves Member Children & Grandchildren aged 15 days to 14 years with $10,000 – $50,000 coverage. It offers low premiums but it is locked in when the child is young. Then, the coverage amount automatically doubles with no increase in premium at age 18.
The Bottom Line
AAFMAA life insurance reviews reveal the history of the company, benefits, eligibility, and so on. It looks detailed so the applicant members do not need to give more questions about AAFMAA again.
