AFBA Life Insurance is the one of the insurance companies which is specialized for setting up coverage to military people and their families. AFBA Life Insurance was founded in 1947 to provide coverage for military families. This company is still in active stage, and successfully operating its service for more than 75 years.
In this article, we’ll explain more information about the AFBA life insurance and what are the benefits you can get over the coverage plan.
Let’s dive.
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History of AFBA Life Insurance Company
Here are the complete history about AFBA Insurance Company you need to know,
In 1947, AFBA (Armed Forces Benefit Association) was initiated in the basement of the Pentagon to support military people to get benefits if any unforeseen event happens.
You know why AFBA started?
Commercial Insurance companies do not pay insurance coverages for the military even if they died in combat. So, with the help of General Army Dwight D. Eisenhower AFBA was started with the motive to help military families.
In 1967, slowly the coverage plan was extended to help retired members, dependents to give more protection for military families.
In 1996, To cover more benefits for military people 5 Star Insurance company was established.
In 2001, After 9/11, AFBA offered membership to first responders.
In 2002, AFBA became a partnership with state associations to offer membership to the National Guard with the help of the State Sponsored Life Insurance Program.
In 2004, Charles C. Blanton Family Survivor Scholarship was established for families of eligible fallen members.
In 2012, AFBA became the partner with the First responder task force. The Task force serves and boots on the ground. More than 7000 agencies served by the task force.
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Now, the AFBA helps more than 535,000 members and their families. AFBA paid more than $2 Billion survivor benefits.
This service was happening from the Korean war to now.
This AFBA life insurance will be really helpful for military people who are looking for insurance coverage plans with affordable prices.
At present, AFBA Life insurance has completely grown and become one of the best and largest Life Insurance providers for Military families in the USA and they provide a wide range of coverage plans like term life insurance to whole life insurance.
So, if any unforeseen losses happen, your family will be safe from financial situations.
To whom AFBA will serve?
AFBA will serve for more peoples like,
- National Guard
- First Responder
- Federal Employees and Contractors
- Active Duty and Veterans
National Guard
You can protect your family with State National Guard Associations with the help of a 5 star Life insurance company.
Yes, The 5 star life insurance specially designed for the National Guard.
Who is Eligible for National Guard Coverage?
If you are Active Guard, then you are eligible for this coverage plan. You will get a coverage plan from 5star Life Insurance company.
First Responder
If you are doing services as a Firefighter, Police officer, Emergency medical technician you will be qualified to get AFBA coverage benefits.
The Armed Forces Benefit Association (AFBA) helps your family financially if any unforeseen event happens for your loved ones.
Who is Eligible for First Responder Coverage?
If you are a present or retired security, correction officer, or firefighters your family is 100% eligible to enroll in the coverage plan.
Federal Employees and Contractors
If You are a federal employee you will qualify for AFBA insurance. AFBA Life insurance helps your family by protecting them with financial needs and helps.
Who is Eligible for this Coverage?
If you are a current Federal employee and contractor or former employee your family is eligible to enroll in the coverage plans.
Active Duty and Veterans
AFBA Life insurance also helps for Active Duty members and Veterans.
Who is Eligible for this Coverage?
If you are an active duty military member or veteran you are eligible to enroll in the AFBA coverage.
Your family is also eligible to enroll in the coverage plan.
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Pros and Cons of AFBA Life Insurance?
Here are the Pros & Cons of AFBA Life Insurance,
Pros of AFBA Life Insurance
- If any unforeseen event occurs for your loved one, Eg. If He/she is dead in combat/fight on the next business day you will get $15,000 payment for the beneficiaries. This will be more helpful for the families to make burial arrangements for your loved ones.
- Some companies ask for a medical exam for applying for life insurance, but In AFBA You can get life insurance without a medical exam.
- Most of the Life insurance companies won’t pay the benefits if you die in war or terrorism attack. But the AFBA company will pay you a full coverage life insurance plan.
- You will get family survivor scholarship
Cons of AFBA Life Insurance
- If you need to qualify for AFBA Policy, you should be a military member, old retired service person, veteran, DOD contractor., etc. If you are not in this category then you can’t be eligible for AFBA Policy.
- In some Insurance companies they offer insurance coverage up to $1M, But in AFBA policy the coverage amount only $500,000
- Some policies available in all states except New York, virginia.
What are the benefits available in AFBA Life Insurance Policy
If you are an Armed Forces Benefit Association (AFBA) member you will get more benefits compared to other insurance company providers.
You will get financial peace of mind by having life insurance in AFBA policy.
Some of the benefits of AFBA life insurance policy are,
- Financial and Legal.
- Health & WellBeing.
- Life Insurance.
- Shopping and Entertainment.
- Travel.
Financial and Legal
- Here, you will get more benefits from auto, home, renters with the help of armed forces insurance (AFI)
- With the help of PenFed Credit Union partnership will provide best auto loans and mortgage rates.
Health & WellBeing
- You will get free online hearing checks with a 20% offer for invisible hearing aids.
- You will get health insurance benefits.
- Long term care insurance helps you more in the long term.
Life Insurance
- More than 75 years AFBA helped military members for life insurance.
- You will get emergency death benefits.
Shopping and Entertainment
- You will get some discounts in parks, sporting events, concerts, movies.,
- You will get a discount for Apple member purchase programs up to 2% – 10%.
- You also get exclusive discounts for top brands such as, Yeti, Oakley.,
- HP offers you free shipping and up to 40% off for their product.
Travel
AFBA Members have access for car rental with huge discounts from different dealers, They get discount from Avis, Hertz, Alamo.,
HERTZ – 1-800-654-3131
Code: CDP# 1636830
ALAMO – 1-800-462-5266
Code By ID 706768
AVIS – 1-800-331-1212
Code: AWD# T568027
Wrap up
AFBA Life Insurance is the insurance which is trusted by Military families because of this coverage plans and goodwill. AFBA Insurance Company with almost 75 years of experience, knows the unique needs of military families.
If you are looking for Term life insurance, whole insurance or universal life insurance AFBA is the one which is suitable for you and your family.
FAQ’s
How do I contact AFBA life insurance?
Address – 909 N. Washington Street
Alexandria, VA 22314
To reach us by phone,
Please call 1-800-776-2322.
Monday – Friday | 8:00 am – 6:00 pm ET
National Guard coverage,
Please call 1-800-462-7441.
Monday – Friday | 8:00 am – 5:00 pm ET
How many employees does AFBA have?
More than 100 employees work for the AFBA Insurance company.
Who is eligible for coverage with AFBA Life Insurance?
If you are a military member, Veterans or retired person, you will be eligible for AFBA life insurance coverage.
Is AFBA Life Insurance a reputable company?
Yes, AFBA Life Insurance is a reputable company working more than 75 years.
Does AFBA Life Insurance offer any additional benefits?
Yes, AFBA Life Insurance offers additional benefits for their families, spouse, children to get scholarships and more other stuff.
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