Ensure Your Loved Ones Are Protected

Life insurance is the primary way to care for those you love should the unthinkable occur. However, whole life insurance has the added benefit of building tax-deferred cash value that can be used later in life, such as for higher education, large purchases, or retirement.

Unlike term insurance, whole life is permanent coverage, meaning it does not run out after a specified amount of time. (Some whole life policies do have an age limit, but newer policies usually last at least until you reach age 100.) Additionally, whole life monthly premiums never go up, which is why it is smart to take out a whole life policy as early in life as possible. However, because of the many benefits of whole life insurance, the premium is higher than an equivalent term life policy. It costs more because you get more.

No matter your age or life situation, Armed Forces Mutual offers a variety of whole life insurance policies designed to meet your family’s needs. Plus, with an Armed Forces Mutual policy, you receive all the added benefits that come with Armed Forces Mutual Membership while you grow your policy cash value at industry-leading crediting rates.

Take a look at Armed Forces Mutual’s whole life insurance policies:

Value-Added Whole Life

Armed Forces Mutual’s Value-Added Whole Life insurance is a smart military whole life insurance policy for Veterans, servicemembers (active duty, National Guard, or reserve), their spouses , and their children or grandchildren under 26 years of age. Because it is a whole life policy, it provides permanent coverage that stays with you for life, builds cash value, and the monthly premiums never go up.

ANNUITYLife^®

An annuity is a contract in which you agree to pay a specific amount of money now that creates a stream of payments back to you later, typically for retirement. ANNUITYLife^® is a modified endowment contract (MEC), which refers to a life insurance policy that meets specific tax qualifications. With a MEC, you pay premiums into the life insurance policy faster than normal — typically in seven years or less. The tax-deferred policy cash value growth, plus the tax-free death benefit, and the fact that there are no upfront fees, commissions make this a smart alternative to traditional annuities.

ANNUITYLife gives you the benefits of an immediate annuity, however before you annuitize the policy it also provides whole life insurance coverage, a long-term care settlement option and, unlike a traditional annuity, you can get back all of your initial investment plus any earned interest with no surrender charges from Armed Forces Mutual. ANNUITYLife is a smart option for any Veteran, retiree, or military spouse approaching or in retirement who would like to convert savings to a stream of income.

Wealth Builder Life Insurance

Armed Forces Mutual Wealth Builder Life Insurance is designed to help servicemembers, spouses, and widows/widowers over age 55 feel confident preparing for retirement. This policy provides permanent coverage that can build your tax-deferred retirement savings at a high rate. Moreover, Wealth Builder Life Insurance is one plan with four solutions:

1. Permanent life insurance coverage that grows a cash value at Armed Forces Mutual’s industry-leading crediting rate;

2. Your own pension, provided by converting your cash value into a stream of income;

3. A long-term care settlement option should you need to access your death benefit to help cover long-term care expenses; and

4. A cash value that can be used as a policy loan or surrendered with no penalties from Armed Forces Mutual.

You can also choose to diversify your retirement mix and use your Wealth Builder Life Insurance cash value as your needs change. The plan also includes Armed Forces Mutual’s exclusive Survivor Assistance Services to personally assist family members when the time comes.

Veteran Survivor Plan

The Veteran Survivor Plan is a guaranteed acceptance whole life plan with coverage from $10,000 to $25,000 that is designed for Veterans, retirees, and spouses ages 45 to 84. The plan is intended for those who do not have permanent life insurance and may not meet or do not want to endure medical underwriting requirements. It is also a good option if you are aging out of your term policies. There is no medical exam required, allowing you to take out permanent insurance so that your final expenses, such as medical bills and funeral services, are covered.

Generations Plus

Although it may not seem like children need life insurance, investing in a whole life policy while your children or grandchildren are young provides them with protection and a smart path to a solid financial future. Generations Plus policies are available in amounts from $10,000 to $50,000 at low premiums that will be locked in for life. That makes investing in a policy while they are young a smart choice because you will pay a much lower rate than they will be charged if they wait until they are older to purchase coverage. By purchasing this life insurance now, it can help them later on if they are  unable to qualify in the future due to unforeseen health issues.

Generations Plus  coverage automatically doubles when your kids turn 18, with no premium increase. The policy provides your child or grandchild with lifetime access to Armed Forces Mutual benefits and the ability to invest in future life policies, as well as mortgages, wealth management, and other Armed Forces Mutual services that are only available to members of the military community.

Armed Forces Mutual Can Help You Choose the Right Plan

Armed Forces Mutual offers affordable whole life insurance for Veterans, servicemembers, military spouses, and dependents with superlative personal service from an organization that understands military families’ unique needs. Work with Armed Forces Mutual’s Life Insurance experts to find the right policy for you. Call 1-888-973-8490 to speak with a Membership Coordinator or get a free quote online today!