AFBA Life Insurance Reviews In Detail 2022 and How To Choose It

AFBA life insurance reviews become the only way to figure out this insurer before joining as a customer. The insurer comes to give benefits to active military members, veterans, first responders, their spouses and children, government or municipal employees, and Department of Defense (DoD) contractors. AFBA insurer provides benefits for groups and individuals by giving lower rate of term life coverage and the policy does not have war or terrorism exclusions.

Armed Forces Benefit Association (AFBA) is established by Pentagon in 1947 to provide resources to military service members and their families. Based in Alexandria, Virginia, AFBA has served over 650,000 members and paid nearly $2 billion as a death benefit. Do you need more reviews about AFBA? Let’s check it out!


Pros and cons AFBA Life Insurance

AFBA Life Insurance Reviews


5 Star Life is a group and worksite insurance provider that underwrites AFBA life insurance policy. It has licensed in 49 states such as Puerto Rico, the District of Columbia, American Samoa, Guam, and the Virgin Island. However, 5 Star Life does not have a license in New York through an AFBA life insurance policy is available. Upon to AFBA life insurance reviews, the policy is underwritten by other companies.

Besides life insurance, AFBA provides several other products such as auto insurance, healthcare coverage, and long-term care insurance. The insurer as well receives some payment systems during its contract such as monthly, quarterly, semi-annually, and annually. The customer can contact the AFBA insurer at 1-800-776-2322 or visit to official website AFBA life insurance company comes with pros and cons such as below:

  • Pros

There are 3 points as the pros of AFBA including a $15,000 emergency death benefit, a simplified issue on some policies, and no war or terrorism exclusions. The beneficiaries just need one day to receive $15,000 emergency death benefits after they inform of the insured’s death. This help is so significant and useful to make burial arrangements.

The simplified issue on some policies becomes one of your benefits from AFBA when you apply for the life insurance product. The simplified issue means the applicant does not need to do a medical exam and bloodwork collected like other life insurers.

AFBA policy does not give exceptions including the members who die in a war zone or are caused by a terrorist attack. Meanwhile, most other life insurers are not willing to pay the death benefit because of terrorism or war.

  • Cons

Equal to prons, AFBA notes three points as the cons or disadvantages of the insurance policy. Firstly, AFBA insurer does not sell policies to the general public and only provide life insurance. If you are not the spouse of a qualifying member or the other mentioned policyholder’s category, you are ineligible for AFBA’s life insurance policies.

Secondly, AFBA life insurance reviews inform on the insurer gives relatively low coverage maximums. AFB’s policy provided a maximum cap of $400.000 while the other insurers dare to give until $1 million or more.

5 Star Life gets more complaints from AFBA insurers than the other companies. The firm underwriting AFBA’s policies receive high-level customer complaints about the underwriting process and policy handling.


Term Life Insurance as AFBA’s Featured Product

Pros and cons AFBA Life Insurance


AFBA insurer offers a lot of financial services for its customers but term life coverage is the most popular product. The insurer provides for both individuals and groups with a more affordable premium rate. But, the coverage is temporary, and if the life insurance contract ends you will not get anything. The beneficiaries will receive the death benefits of AFBA term live coverage when they die inside the agreement.

ABA insurer offers four different term life options for the members such as:


Smart Start Child

The Smart Start Child plan is suitable for the policyholders who want to protect their children or grandchildren. It includes a basic life policy with coverage up to $15,000 but the beneficiaries must be aged 14 days and 18 years old. Later, the policy lasts until their age is 25 years old.

AFBA insurer merely provides a single premium payment by purchasing $10,000 with the coverage for $150 or $15,000 of the coverage for $225. After reaching 25 years old, the beneficiaries can convert the policy to a whole life policy without a medical exam. They can change it to five times the original benefit amount.


Children Term

Children’s term policy allows purchasing up to $50,000 of level term insurance for them aged 1 – 17 years old. The policy will last until the beneficiaries turn 70 years old if you keep paying the premiums. But, the covered child is only 45 years old and the rates will increase when the child reaches different age brackets.


Group Level Term

The policy of Group Level Term provides coverage for up to $500,000. It has no medical exam for coverage amounts up to $250,000 and it last until you turn 70. However, the rule is as usual as long as the premiums are paid properly.


Better Alternative Term

Lastly, AFBA offers Better Alternative Term coverage only for separates, retirees, and active-duty military. This term life insurance plan allows purchasing the coverage between $50,000 and $400, 000. AFBA life insurance reviews add this package does not need a medical exam for the coverage of $250, 000. Equal to the Group Level Term, it also lasts until 70 years if the term is paid on time.


AFBA Life Insurance Provides Insurance Riders

Same as other life insurance policies, AFBA also provides insurance riders policy when the policyholder buys the coverage for your beloved family. Even though, this insurer limits the policy only for:

  • Child Insurance

AFBA gives an option to purchase coverage for your kids until getting $15, 000 in the Child insurance. Your kids must be aged less than 21 years old or up to 23 if they are full-time students.

  • Spouse Coverage

The Spouse Coverage in AFBA insurance rider reaches $500, 000 but your partner is on the same application.

  • Family Survivor Scholarship

Family Survivor Scholarship on AFBA policies offers $10,000 per year, per family for your spouse and children. The mentioned beneficiaries will accept the coverage if the insured is killed in a war or terrorist attack. In addition, per family just receive the maximum benefit of $40, 000 and the residents of Virginia cannot apply for Family Survivor Scholarship (not available).


Cancelation Policy In AFBA Life Insurance

AFBA life insurance reviews reveal the cancelation policy without getting a penalty. The applicant candidates can cancel their purchasing coverage and get a full refund. AFBA policy offers a 10-day free look period and it becomes the best time to decide to continue or stop it. Outside of the free look period, your cancelation will not get a refund of any premiums you paid. Anytime you cancel it, contact AFBA’s customer support team at 800-776-2322.


AFBA Life Insurance Price

AFBA insurer has stated the policies are less expensive than other common life insurers. The company will give an overview of the premium that becomes competitive with industry leaders. It takes the example of monthly premiums for a 25-year-old male in good health.

The premium for coverage of $100, 000 is paid $10, $250, 000 coverage is paid $25, and $400, 000 is paid $40. Well, it is just an estimation and if you want to know the recent price just call the customer service. As with other life insurers, AFBA just receives the policyholder both male and female.


Tips for Choosing Life Insurance For Military

Being an active-duty military, veteran, or other kinds of an army is not easy. They must sacrifice their time, energy, family, and also soul to serve the country. Seemly, they also do not have time as free as common people with other jobs. However, protecting their family until grandchildren is so essential. Moreover, they can be killed anytime when undergoing their duty in the military.

AFBA life insurance reviews also give some tips to choose the right life insurance policy. Let’s check 6 tips to follow:

  1. Need

It does not matter to ask yourself whether you will need the life insurance policy. If you are single, you might not need to purchase life insurance. But, it becomes so essential when you are married and have kids and or grandchildren. The death benefits can be their income replacement if you die and still undergo the contract.

  1. Why purchase life insurance independently?

The military has a lot of dangerous jobs such as being fighter pilots and paratroopers. Both rare get the life insurance from the company as it is supposed as a too risk profession. Therefore, the military member should find life insurance independently by choosing an AFBA insurer.

  1. Find the life insurance term to respond to war and terrorist attacks

Not all life insurance policies pay for the insured to die because of war and terrorist attacks. Meanwhile, a lot of military insurers spread in the US so you must be selective in choosing one of them. Read the rule properly and make sure you find it with no war and terrorist clauses. It implies, that your family or the beneficiaries keep receiving the death benefits if you die in combat duty or get a foreign terrorist attack.

  1. Think about how much insurance you need

Getting the right type of life insurance and the amount will help your beneficiaries in the future. Think the death benefits will meet your burial arrangement, debts, and unpaid medical bills. You can also buy the policy to meet your children’s education fee or spouse if you die suddenly. To get the right answer to your need, you should consult the customer service of the insurer.

  1. What kind and how long do you need it?

AFBA life insurance reviews guide to getting the right coverage policy by asking for the kind and how long it is needed. Always consider the kind of insurance you want like the term or permanent life insurance policy. Permanent life insurance will last for a lifetime but it has a higher premium rate than the term. Besides that, it allows you to borrow against or withdraw to meet your unexpected need.

For both term and permanent life insurance, you have to register first. Do not forget to be careful during the registration process by researching information and consulting with a financial adviser.

  1. Who will be the beneficiaries?

Lastly, think about the beneficiaries to receive the claim when you die. It can be your spouse or yourself. Coverage for your spouse means the death benefits will be received by your spouse as long as it is qualified. Meanwhile, coverage for you is useful to be used to cover your medical treatment if you get an injury or terminal illness during active duty.


Final Word

Military members both active and in retirement should have life insurance for their loved ones. AFBA life insurance reviews have spelled out the policy, price, beneficiaries, and other detailed information.

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